Shift from declining to rising dollar extends for another day

The drivers seem to be better than expected U.S. retail sales for November; a report that industrial production in the EuroZone contracted in October; and a sense that a possible decision to begin tapering off the current $85 billion in asset purchases at the Federal Reserve’s December 18 meeting might not be especially scary. That last would reduce demand for the safe-haven Japanese currency.

China’s exports rise more than expected adding to optimism on global economic growth

China’s exports rise more than expected adding to optimism on global economic growth

Continuing last Friday’s trend—when U.S. financial markets rallied after deciding that economic growth in the United States might just be strong enough to offset any slowdown from a Federal Reserve taper—today global financial markets are rallying on optimism about the global economy after China reported a 12.7% increase in exports in November over November 2012. Economists surveyed by Bloomberg had projected a 7% gain in exports.