May 5, 2026
United States:
US Trade Gap Widened in March as Imports Outpaced Exports
The US trade deficit widened in March as an increase in the value of imports exceeded exports in a sign of solid consumer and business demand.
The gap in goods and services trade grew 4.4% from the prior month to $60.3 billion, Commerce Department data showed Tuesday.
Europe:
ECB’s Lagarde Urges Europe to Reduce Energy-Import Dependency
European Central Bank President Christine Lagarde said soaring energy costs due to the Iran war should act as a wake-up call for Europe to reduce its reliance on fossil fuels and energy imports.
With Europe importing about 60% of its energy – almost all fossil fuels — Lagarde told a climate conference Tuesday in Frankfurt that the status quo is “clearly unsustainable.”
Asia:
Japan Has Two More Windows for Yen Intervention by IMF Rules
Japan can conduct only two more sessions of three-day interventions by November if it wants to maintain its status of having a freely floating exchange rate, based on International Monetary Fund guidelines.
A Japan Finance Ministry official cited an IMF rule on Monday noting that three days of intervention count as a single market operation. The comments came after the yen surged last Thursday following reported intervention by the authorities, and also saw a number of intraday rallies on the following days.
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