In Brazil, the Real currency and benchmark Bovespa stock index strengthened slightly on Wednesday. Political uncertainty in Brazil took a toll after judicial authorities canceled the release of a closely-watched opinion poll on technical grounds.
World stock markets pushed lower on Wednesday amid simmering trade tensions and the spreading financial firestorm across emerging market currencies. MSCI’s emerging markets equity index dropped for the sixth straight day, losing more than 1% in Asia and nearly fully reversing the late August bound in the benchmark.
Argentina’s economy minister sounded upbeat on Wednesday about clinching a new deal with the International Monetary Fund after two days of talks in Washington, and said had sought U.S. support for securing approval from the IMF’s board.
The U.S. trade deficit rose to a five-month high in July, with the politically sensitive gap with China hitting a record high, which economists said could embolden the Trump administration to aggressively pursue its “America First” agenda.
U.S. President Donald Trump said on Wednesday that the United States was not yet ready to come to an agreement over trade disputes with China but he said talks would continue.
The international tourism sector has seen uninterrupted growth in arrivals for eight straight years, with 2017’s growth being the highest since 2010; with a record performance of US$ 1.6 trillion. This represents an increase of 7%, according to the World Tourism Organization (UNWTO).
Argentina’s peso slid further on Tuesday as investors reacted with skepticism to president Mauricio Macri’s plans. Many worry he will not be able to push reforms through a restive Congress amid growing frustration on the streets of Buenos Aires.
The Falkland Islands Government operating surplus of £38 million for 2017/18 was driven primarily by favourable Corporation Tax receipts. The original budgeted deficit in my view led the former Legislative Assembly to be over cautious in their demands leading to unnecessary thrift in some areas, according to MLA Roger Spink, who is head of the Government Services Portfolio of the Assembly.
Argentina “made progress” on Tuesday in talks with the International Monetary Fund aimed at securing an accelerated disbursement of a US$50 billion loan it hopes will calm its debilitating economic crisis.
The Brazilian Real erased early losses on Tuesday after state prosecutors charged Workers Party vice presidential candidate Fernando Haddad with corruption, driving investors to pare bets on his electoral strength.