Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Singapore’s non-oil domestic exports (NODX) are likely to have declined during the month of August and the pain is expected to continue against a backdrop of sluggish global outlook and concerns of a slowdown in China.
The country’s NODX data, due to be released Friday is expected to register a decline of 5.4 percent. While this is an improvement from the drastic 10.6 percent plunge in the previous month, the point to note is that it is still stuck in the red zone. Indeed, nothing has changed in the external environment to warrant an improvement at this juncture.
The ongoing slowdown in China is the main concern. It is structural in nature and hence, is here to stay for a while. Sluggish growth in the United States, compounded with the risks of the Federal Reserve interest rate hike and the upcoming US election will continue to weigh down on the global outlook.
In addition, the uncertainties surrounding a post-Brexit Eurozone and a potent mix of downside risks to export performance and growth dampen the situation further. The next few months will be tough going for any export-dependent economy, including Singapore, DBS reported.
