April 16, 2021
On April 16, the U.S. Treasury Department issued its semiannual
Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, the first release during the Biden administration and under Secretary Yellen. In this latest “FX report,” Treasury declined to designate any country for currency “manipulation,” reversing its December 2020 designation of Switzerland and Vietnam. However, it concluded that Switzerland and Vietnam, as well as Taiwan, met three criteria to trigger “enhanced engagement” to “address underlying causes” of currency undervaluation and external imbalances.
Q1:
What is the FX report and how does it determine “manipulation”?
Ojo a balanza comercial por superávit entre México y EU reporteindigo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reporteindigo.com Daily Mail and Mail on Sunday newspapers.
Inflation report on deck
THIS week’s economic calendar includes key readings on the consumer price index (CPI), leading economic index and foreign reserves.
The Statistics Department is announcing inflation data for March 2021 on Friday while Bank Negara is expected to announce international reserves as at April 15 on Thursday.
Economists expect inflation to grow faster in March but do not see inflation becoming a threat anytime soon.
According to Bloomberg estimates, inflation in March is expected to grow 1.6% year-on-year from 0.1% in February.
The CPI increased 0.1% in February 2021 to 122.5 as against 122.4 in the same month of the preceding year.
For the period January to February, the CPI decreased 0.1% as compared to the same period last year.
No major trading partner manipulates currency: US Treasury
By IANS |
1 Views
US blacklists individuals, entities over Hezbollah links. Image Source: IANS News
Washington, April 17 : The US Treasury Department said that no major trading partner of Washington meets the criteria as a currency manipulator, but Vietnam, Switzerland and Taiwan will be under enhanced monitoring for their currency practices.
In its semi-annual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US, the Department on Friday concluded that Vietnam, Switzerland and Taiwan met all three criteria for enhanced currency analysis under the Trade Facilitation and Trade Enforcement Act of 2015 during the four quarters through December 2020, reports Xinhua news agency.