this-week-s-state-of-the-economy---what-is-ahead---10-january-2020

This Week's State Of The Economy - What Is Ahead? - 10 January 2020

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U.S. - Well, That De-Escalated Quickly

  • The week began amid rising tensions carrying over from the U.S. killing of Iranian General Qasem Soleimani last Friday. Iran responded with non-lethal airstrikes on U.S. facilities, but President Trump has said the U.S. has no plans to escalate further, and the Iranians appear to have concluded their response for now.
  • Compared to just prior to the drone strike, U.S. stocks are higher as is the dollar and the price for a barrel of oil (after spiking briefly) is now about $2.00 lower.
  • The job market continued to expand adding another 145K jobs although wages rose the least since mid-2018.

 

Global - A (Mostly) Happy New Year

  • It was a relatively busy week for international data and events. In the Eurozone, inflation increased in December at the fastest pace since April, an encouraging sign for the ECB, while European industrial data were sturdy.
  • Canadian employment rebounded in December after two straight months of declines, lessening concerns about a slowdown in job growth.
  • In Mexico, the data was not as promising, however. Mexico’s consumer prices eased further in December and industrial production disappointed in November, supporting the case for additional monetary policy easing from the central bank.

 

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