What Has Worked (And What Hasn’t) With A Stronger Dollar
Submitted by Eric Bush via Gavekal Capital blog,
You are here
Business
GDP Hopes Slashed As Trade Deficit, Inventories Tumble In October
The resurrected hopes of lift-off velocity GDP growth in America suffered a double whammy this morning.
A considerably bigger than expected trade deficit (-$62mm vs -$59mm exp) suggests Q4 GDP growth may take a hit...
and then wholesale inventories tumbled 0.4% MoM (the 2nd biggest plunge in over 3 years) notching more potential from economic growth hopes.
Still forget Q4 right? 2017 will be trumperrific.
'Black Friday' Channel Checks Turn Red: "Store Traffic Is Subdued Across The Country"
Two days ago we reported that according to a troubling - for retailers - survey conducted by Reuters/Ipsos, nearly two thirds, or 63% of US adults, did not plan to shop on Black Friday. It is unclear what exactly is causing this sharp slump in US consumerism: according to Christopher Baldwin, CEO of BJ's Wholesale Club, one excuse is that "Black Friday is no longer a one-day event; it has turned into a multi-week event." Another possible reason is that shellshocked by soaring Obamacare premiums, US adults simply have far less disposable cash which to splurge on holiday trinkets.
Gold Down 13.5% In 13 Days – Trump Bearish For Gold?
Cash Crackdown Escalates: India May Impose 60% Tax On "Unaccounted" Deposits, Curbs On Gold Holdings
As reported yesterday, India's unexpected crackdown on "black money" which saw the elimination of the old high denomination bills, is not going well, not only because former PM Manmohan Singh slammed the idea warning it would cut as much as 2% from the GDP of the world's fastest growing economy, but because so far the voluntary participation in the "exchange" of old for new notes ahead of today's exchange suspension (deposits of old cash may still take place until December 31) has been far below expectations.