India News: America’s share of global GDP has stayed at 24-25% for 50 years. Post-Covid, its $25trn economy saw robust growth. America more than makes up for the
US-China relations: Is Biden’s stimulus plan enough to stop China becoming the world’s leading economic power?
US President Joe Biden pledged in March he would prevent China becoming the world’s ‘leading’ and ‘wealthiest’ country
But economists say in the long run no amount of spending or tailored growth policies will stop China from surpassing the US
Euro dips below 1.19, US retail sales see red
March 16, 2021SharePrint
The euro continues to weaken this week, as the currency is down for a third successive day. Currently, EUR/USD is trading at 1.1894, down 0.30% on the day.
German ZEW Economic Sentiment rises
The euro remains under pressure, and even a strong outing from the German ZEW Economic Sentiment earlier in the day has failed to stem the currency’s slump. In March, the indicator rose to 76.6, up from 71.2 beforehand. This marked a fourth straight month of acceleration, pointing to stronger confidence in Germany’s economy from financial experts. The Eurozone ZEW reading showed a similar move, rising from 69.6 to 74.0.
Modest markets mask Fed fears
March 16, 2021SharePrint
US dollar, Wall Street show gains
US bonds stabilised overnight, allowing the FOMO buy-everything crowd to dip their toes back into the magical healing waters of technology stocks. Buy everything really did mean buy everything, though, with all three major Wall Street indexes closing higher. Unusually, that same premise saw the US dollar and precious metals, notably gold, rise as well, a deviation from the mechanical correlation playbook of late.
The relief that Friday’s US bond tantrum did not result in another trip to the naughty corner was palpable. However, the US dollar and gold rising even as technology stocks rose hints that all is not quite right. One must respect the linkages of late, sell bonds, sell technology, buy cyclical, buy oil every day, buy US dollar, buy gold, oh wait, its gold, sell it anyway no matter what is going on. Bitcoin has also given up all its “we’re Sleepless on Saturday what shall we do,