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Not sure what happened to my tweet on Singapore lack of shipment (-17.3% for non-oil domestic exports). By country breakdown:
USA +1.5%YoY 😬
EU 28 down -22.1% 🥶
China -15.8% 🥶
EM -17.% 🥶
India -10.8% 🥶
Others -19.1% 🥶
Relatively speaking, US demand stronger so USD strong🤗
USA +1.5%YoY 😬
EU 28 down -22.1% 🥶
China -15.8% 🥶
EM -17.% 🥶
India -10.8% 🥶
Others -19.1% 🥶
Relatively speaking, US demand stronger so USD strong🤗
In other words, if u look at the drag to Singapore non-oil domestic exports, then u see that the only customer that is GROWING, albeit at a pretty low rate, is the US 🇺🇸 & that is relatively stronger than say the -22.1% contraction of the EU or China's -15.8% or everyone else👈🏻
Remember that the USD is about relative growth of the US vs the rest of the world or more specifically the freely floated guys like EUR, JPY, GBP, CHF, CAD etc.
This chart 👇🏻that summarizes manu activity then u see that a US slowdown is still better than a meltdown elsewhere.
This chart 👇🏻that summarizes manu activity then u see that a US slowdown is still better than a meltdown elsewhere.
