January 7, 2025
United States:
US Trade Deficit Widens on Largest Jump in Imports Since 2022
The US trade deficit widened in November, reflecting the biggest jump in imports since March 2022 as companies accelerated shipments ahead of a possible dockworkers’ strike and in anticipation of potential tariffs by the Trump administration.
The gap in goods and services trade grew 6.2% from the prior month to $78.2 billion, Commerce Department data showed Tuesday.
Europe:
Euro-Zone Inflation Rebounds But Won’t Derail ECB Rate Cuts
Euro-area inflation accelerated last month, supporting the European Central Bank’s gradual approach to reducing interest rates, without derailing them altogether.
Consumer prices rose 2.4% from a year ago in December, up from 2.2% in November and matching the median estimate in a Bloomberg poll.
Asia:
Japan Warns on Speculative FX Moves After Yen Hits 6-Month Low
Japan flagged its concern over sudden and one-sided moves in the currency market in its first warning to speculators in 2025 after the yen hit its lowest level since July.
“We will take appropriate action if there are excessive movements in the currency market,” Finance Minister Katsunobu Kato told reporters Tuesday, in a veiled threat of direct intervention.
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