Reuters (May 22)
“Asia buys about 80% of oil shipped through the shuttered Strait of Hormuz and stress in foreign exchange markets is one of the clearest signs that rising fuel prices are starting to hurt growth.” Asian governments have been left in “an unenviable position. The path to preserving growth is precarious because falling currencies can shake confidence and stoke inflation, but supporting them with higher rates means a hit for consumers and the economy’s growth engine on top of the fuel shock.”
Tags: Asia, Confidence, Consumers, Currencies, Forex, Governments, Growth, Inflation, Markets, Oil, Precarious, Prices, Rates, Shuttered, Strait of Hormuz, Unenviable
USA Today (July 9)
The U.S. passed another “grim milestone” on Wednesday, racking up 3 million COVID-19 cases, which “represents roughly a quarter of the world’s cases and the same percentage of its deaths.” The U.S. now strongly “leads an unenviable group. Its 3 million cases for a nation of 330 million beats out Brazil’s 1.7 million cases (210 million population), India’s 742,000 cases (1.4 billion) and Russia’s 699,000 cases (145 million).”
