Good spirits. This hour brings earnings for samsung. A crucial report amid the virus disruption will show how the chip industry is weathering the global storm. Shery lets start you with breaking news out of south korea. We are getting become your current account balance. Right now, the surplus coming in at 6. 41 billion. Also for the goods trade surplus ining in at 6. 58 billion february. Both numbers are a significant rebound from the plunge that we saw in january when it hit the lowest level in seven years. Exports have been stabilizing after that hit from global trade spats and the double chip industries downturn. For the month of february, we are seeing an update and a rebound with a current account surplus at 6. 4 billion. The goods surplus at 6. 6 billion in february but of course we are headed to seymour economic fallout from the coronavirus outlet, so we will keep an eye on those trade figures out of south korea. For now, lets get you a quick check on markets. He restocks at th
Reopening amid Delta variant surge deepens contradictions in global economy
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ECB struggles to marry its outlook to the market s mood
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3/12/2021 8:01:35 AM GMT
EUR/USD has been on the back foot as US yields lift their head again.
The ECB s front-loading of bond-buys has failed to convince markets.
Europe s vaccine issues are also pointing to losses.
Friday s four-hour chart is showing bears are gaining ground.
Time to give back weekly gains? EUR/USD has been retreating from the highs and may have substantially more room to give up previous gains as the week draws to a close.
There are three fundamental downside drivers:
1) US yields have ended their correction
Returns on US debt remain the main market driver – and when they rise, the dollar moves higher as well. The rise in