China’s Export Decline Slows
China’s export decline slowed to 15.2% YoY in September from 23.4% in August and 21% consensus. Positive surprise, but still far away from +25% pre-crisis levels. As usual equities and commodities are trading higher on the news; U.S. dolar lower.
Chart 1. Chinese Export Growth YoY
Source: Bloomberg
My short crude oil trade performing poorly at the moment, will decide what to do after the Energy Information Administration (EIA) petroleum stats tomorrow if it isn’t closed by then on outstanding stop loss order.
The U.K. job benefits rose 20,800 vs. 24,500 consensus. A notable slowdown. Bloomberg story: U.K. Unemployment Rises Least in a Year as Slump Ebbs.
Largest world spirits company in the world Diageo reported earnings. Falling revenue is the game even in one of the anti cyclical industries out there. Reuters story: Diageo’s Q1 sales dip 6 pct, sending shares lower.
Chinese Exports, Crude Oil, Diageo (DEO), U.K. Unemployment, U.S. Dollar