BBC.- The number of Americans seeking unemployment benefits has hit a record high for the second week in a row as the economic toll tied to the coronavirus intensifies.
BBC.- The number of people without jobs in the US has surged to a record high as the economy goes into lockdown due to the coronavirus pandemic.
BBC.- US Treasury Secretary Steven Mnuchin says he supports sending money directly to Americans as part of a $1tn (£830bn) stimulus aimed at averting an economic crisis caused by the coronavirus.
BBC.- The US has cut interest rates to almost zero and launched a $700bn stimulus programme in a bid to protect the economy from the effect of coronavirus. It is part of a co-ordinated action announced on Sunday in the UK, Japan, eurozone, Canada, and Switzerland.
BBC.- Shares have tumbled after US President Donald Trump restricted travel to the US from mainland Europe in a bid to slow the spread of the coronavirus. London’s FTSE 100 index sank more than 5%, with similar declines seen in other European markets.
Bloomberg.- America’s streak of robust job gains is being threatened by a spreading coronavirus that’s roiling financial markets and may exact a growing toll on the U.S. economy.
BBC.- The US central bank has slashed interest rates in response to mounting concerns about the economic impact of the coronavirus. The Federal Reserve lowered its benchmark rate by 50 basis points to a range of 1% to 1.25%.
MarketWatch.- The wholesale cost of U.S. goods and services posted the sharpest increase in January in 15 months, but most of the uptick appeared to reflect temporary price swings instead of an underlying increase in inflation.
BBC.- The US saw another month of strong jobs growth in January, extending a streak of gains that has surprised many economists.
BBC.- China plans to halve tariffs on 1,717 goods it imports from the US as the country faces the fresh challenge of the coronavirus. Chinese officials said tariffs on some goods would be cut to 5% from 10%, and on others from 5% to 2.5%.
MarketWatch.- The trade deficit fell slightly in 2019 to mark the first decline in six years, mostly reflecting U.S. tariffs on Chinese goods that reduced the flow of imports from the Asian giant.
MarketWatch.- Orders for long-lasting or durable goods surged 2.4% in December owing to the military, but business investment in the civilian part of the economy declined again to finish the year weakly.
BBC.- Trade tensions with the US have spiralled after the chancellor, Sajid Javid, took a defiant stance at Davos. US treasury secretary Steve Mnuchin has threatened new tariffs on UK carmakers after the chancellor defied pressure to cancel a new tax on tech firms.
MarketWatch.- The Federal Reserve’s expansion of its balance sheet since last fall has supported cyclical and financial stocks and hurt defensive ones like utilities and telecommunication, according to a new study released Tuesday.
Bloomberg.- China’s pledge to boost imports from the U.S. under a recently signed trade deal could end up costing the European Union about $11 billion next year.
BBC.- The US and China have signed an agreement aimed at easing a trade war that has rattled markets and weighed on the global economy. Speaking in Washington, US President Donald Trump said the pact would be “transformative” for the US economy.
El Comercio.- El inicio de la guerra comercial, que influyó en la ralentización de la economía mundial, se remonta a marzo del 2018, cuando el presidente estadounidense Donald Trump anunció que su gobierno elevaría los aranceles a 1.300 productos chinos. En respuesta, el gigante asiático informó que sumaría 106 artículos estadounidenses a una lista de insumos a los que se les impondrían aranceles del 25% sobre el producto en sus impuestos de ingresos.
MarketWatch.- The economy created 145,000 jobs in the final month of 2019 to cap off the ninth straight year in which employment gains topped the 2 million mark, but workers still aren’t reaping a windfall from the strong labor market in the form of rapidly rising pay.
BBC.- Oil prices have risen after two bases hosting US troops in Iraq were hit by ballistic missiles. Brent crude was up by 1.4% at $69.21 per barrel in the middle of the Asian trade, easing back from earlier gains.
BBC.- Drivers are already feeling the effects of climbing oil prices, with growing tensions between the US and Iran set to push them higher, according to the RAC. “Prices at the pump have already increased by about a penny a litre,” said Simon Williams, who tracks fuel prices for the company.
Las crecientes tensiones geopolíticas entre Estados Unidos e Irán redujeron la aversión al riesgo. Además, los datos de manufactura débiles en EEUU y en China también contribuyeron a aumentar la cautela de los inversores al final de la semana, a pesar de que los datos de la Eurozona fueron mejores de lo esperado.
Bloomberg.- The Chinese trade delegation plans to sign the first phase of its trade deal with the U.S. in Washington on Jan. 15, according to people familiar with the matter.
BBC.- Oil prices have risen sharply after the killing of a top Iranian general in Iraq. Analysts warned the action could escalate tensions in the region and affect global oil production.
BBC.- Donald Trump has announced he will sign a long-awaited trade agreement with China on 15 January. The pact, a “phase one” deal, is expected to reduce tensions between the two economic giants.
MarketWatch.- The number of Americans applying for unemployment benefits fell for the second week after a big spike earlier in December.
Bloomberg.- Chinese officials expect the U.S. will delay a threatened tariff increase set for Sunday as both sides focus on de-escalating tensions by cutting import taxes currently in place rather than removing specific products from the target list, according to people familiar with the matter.
Artículo de Katherine Salazar, publicado en el Reporte Semanal (del 2 al 6 de diciembre del 2019) del Departamento de Estudios Económicos del Scotiabank. La economía china se ha ido deteriorando durante el 2019 producto del conflicto comercial con EE.UU. El crecimiento de los últimos cinco años promediaba 6.9%; sin embargo, la percepción de un crecimiento horizontal cambio hacia una “desaceleración”. En el 3T19 la economía china creció 6%, el menor crecimiento durante los últimos 27 años, y el país espera crecer en un rango entre 6.0%-6.5% este año, esperando un registro menor al 6% en el último trimestre.
América Economía.- Perú está cerca de firmar un acuerdo para impulsar las inversiones de Estados Unidos en infraestructura y energía en el país, una iniciativa de Washington para contrarrestar la influencia china en la región, dijo una diplomática peruana.
MarketWatch.- The nation’s trade deficit dropped almost 8% in October to a 16-month low, largely because of lower imports from China tied to the ongoing U.S. trade dispute with the Asian giant.
Bloomberg.- Chinese state media said the government would soon publish a list of “unreliable entities” that could lead to sanctions against U.S. companies, signaling trade talks between the two nations are increasingly under threat from disputes over human rights in Hong Kong and Xinjiang.