Asia overgrows USA

News of the day, Friday, 14 January:

China's exports severely outnumbered imports, achieving an all-time record trade surplus in 2021 – $676.43 billion. Customs data also shows a $94.46 billion surplus in December solely, making it the greatest export month. Such success is due to China's effective pandemic measures – only 143 cases were reported since the year started. 

Indonesian exports and imports rose as well – the economy is thriving on commodity prices increase. Since May 2020, Indonesia reports a positive trade surplus each month which supports the Rupiah, making it one of the 2021 top-performance Asian currencies.

The US dollar heads in the opposite direction. During this week, the dollar index has decreased by 0.9% – the largest dip since May 2021. These changes have become one of the main topics recently, as the USA faced the highest inflation rate since the 1980s.

The price of Brent crude is 85.19$, WTI — 82.63$, GBP/USD — 1.3736, EUR/USD — 1.1466, and gold costs 1823.85$ per ounce.

Author: GC
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