Tag Archive: China
FX Daily, August 01: Dog Days of August Begin
The US dollar is trading with a small upside bias in narrow trading ranges. The main news has consisted of PMI reports, while investors continue to digest last week's developments. In particular the BOJ's underwhelming response to poor economic data and a missed opportunity to reinforce the fiscal stimulus, and the dismal US GDP.
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The World’s Central Banks Are Making A Big Mistake
While everyone was talking about Brexit last month, the Bank for International Settlements released its 86th annual report. Based in Basel, Switzerland, the BIS functions as a master hub for all the world’s central banks. It settles transactions among central banks and other international organizations. It doesn’t serve private individuals, businesses, or national governments.
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Hans-Hermann Hoppe: “Put Your Hope In Radical Decentralization”
All major political parties in Western Europe, regardless of their different names and party programs, are nowadays committed to the same fundamental idea of democratic socialism. They use democratic elections to legitimize the taxing of productive people for the benefit of unproductive people. They tax people, who have earned their income and accumulated their wealth by producing goods or services purchased voluntarily by consumers (and of course...
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FX Daily, July 15: Sterling and Yen Remain Key Drivers in FX
The US dollar is broadly mixed against the major currencies. The Swiss franc's 0.25% gain puts it at the top of the board, after sterling's earlier gains were largely unwound in late-morning turnover. The yen is the weakest major; extending its loss by 0.6%, to bring the weekly decline to more than 5%. The pre-referendum result high for the dollar was near JPY106.85. Today's high has been about JPY106.30. In emerging markets, we note that the...
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FX Weekly Preview: Sources of Movement
Electoral politics remains significant. BOE is likely to cut rates, while BoC may tilt more dovishly. US Q2 earnings season formally begins.
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Chinese Gold Demand 973 tonnes in H1 2016, Nomura SGE Withdrawals Chart False
Chinese wholesale gold demand, as measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), reached a sizable 973 metric tonnes in the first half of 2016, down 7 % compared to last year.
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South China Sea: Storm in an Indian Ocean Teacup
With global attention focused on BREXIT calamity, potentially more important questions are being overlooked, and especially in the South China Sea where storms are currently brewing between China and a range of littoral states for strategic control of territorial waters.
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Panama Tax Haven Scandal: The Bigger Picture
The “Panama Papers” tax haven leak is big … After all, the Prime Minister of Iceland resigned over the leak, and investigations are taking place worldwide over the leak. But the Panama Papers reporting mainly focuses on friends of Russia’s Putin, Ass...
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China the lender of last resort for many oil producers
Bawerk explains how China will be the lender of last resort of many oil producers. China might let collapse a smaller producer and become much smarter at covering its political bases across producer states to protect longer term sunk costs.
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China and Japan Chart Update
A chart-up from China and Japan. Growth of Chinese industrial production, retail sales, fixed asset investment is at lows not seen since the Asian financial crisis. The Yuan is falling. Economic data from Japan is not a lot better.
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FX Weekly Preview: Four Central Bank Meetings and More
A couple of weeks ago, the four
central banks that meet in the coming days were thought to be a big deal. Numerous Federal Reserve officials
were preparing the market for a summer hike. Risks of a new downturn in
Japan spurred spe...
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Faber: “Switzerland doing much better than any other country in Europe. So Britain should do the same?”
The European Union is an "empire that is hugely bureaucratic," warns Marc Faber, telling CNBC that he thinks that "a Brexit would be bullish for global economic growth," because "it would give other countries incentive to leave the badly organized EU...
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Visualizing “The 5000 Year Long Run” In 18 Stunning Charts
In the long run, as someone once said, we are all dead, but in the meantime, as BofAML's Michael Hartnett provides a stunning tour de force of the last 5000 years illustrates long-run trends in the return, volatility, valuation & ownership of financi...
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