- The U.S. trade deficit narrowed unexpectedly to $55.0 billion in March in the largest drop in over three years, as exports hit a record and imports from China declined. March exports were $102.2 billion and imports were $157.2 billion resulting in a goods and services deficit of $55.0 billion, $5.6 billion less than the $60.6 billion in February.
- The U.S. Department of Energy said that crude oil supplies were up 2.7 million barrels last week to 329.7 million barrels. Unleaded supplies were up 200,000 barrels and heating oil supplies were up 500,000 barrels. September crude oil closed down $1.28 at $52.75.
- The Bank of England lowered its 2005 growth estimate from 2.7% to 2.6%. Imports in the U.K. were down 0.4% in March and exports were up 3.4%.
- Canada's exports were up 0.2% to C$35.8 billion in March and imports were stable at C$31.5 billion.
- The International Energy Agency said that China's demand for oil increased 4.5% in the first quarter from a year ago.
- YoY consumer prices in Germany were up 1.6% in April .
- YoY Household spending in Japan was down 0.2% in March.
- Canada's trade surplus hit C$4.2 billion ($3.4 billion) in March, up from February's revised figure of C$4.15 billion, Statistics Canada said on Wednesday.
- China has not changed its currency policy, the central bank said on Wednesday, after financial markets were worked up by a report in the nation's top newspaper that predicted the yuan would be revalued next week. On the other hand, Goldman thinks that the Chinese renminbi could be revalued by 5-10%, so says Hong Liang, Executive Director and China Economist at Goldman Sachs Asia
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