10 Dec 2014

Britain’s Trade Deficit Narrows

With a downside surprise in yesterday’s manufacturing production data in the UK, today’s trade balance update has offered no major surprise to investors and showed that trade deficit in the UK narrowed for October. Today’s data might have provided some relief to the British government, which is aiming to improve the nation’s fiscal health going forward. Across the Atlantic, yesterday’s upbeat NFIB small business optimism survey for November failed to stir any movement in the greenback, especially after the survey revealed that hiring and new business investments across small firms remained weak. Meanwhile, investors were caught on the wrong foot yesterday after Greece called for a snap election and China tightened its lending norms.