Archived IMT (2009.01.13)

USD gains on the 29% plunge in the US Nov trade deficit to a 5-year low of $40.4 bln, which was a clear manifestation of eroding global growth weighing on world trade. The record 12% decrease in US imports reflected a 36% drop in petroleum imports, highlighting the fact that falling US growth dominated the role of the stronger dollar. The 6% decline in US exports is another sign of slowing global growth in the face of weakening global currencies against the US dollar. But a record twin deficit of over 10% ...You must be a subscriber of Intraday Market Thoughts to read rest of content.