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China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. The development is likely to be welcomed by the German government. Source: Reuters
In January, Russia increased its gold reserves by 37 metric tons, equivalent to more than a million troy ounces, Vesti.ru reported on Tuesday. As a whole, Russia’s foreign reserves grew by four percent last month, and stood at $393.6 billion on February 10. Source: Sputnik
For the first time in almost four years, none of the eurozone’s 19 members was in deflation during January. The European Union’s statistics agency Wednesday confirmed an earlier estimate that showed consumer prices in the currency area were 1.8% higher than a year earlier. Source: MarketWatch