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Tropical Cyclone Threatens South Florida, Takes Aim At Gulf Coast
Tropical Cyclone Threatens South Florida, Takes Aim At Gulf Coast “Tropical Storm Gordon formed over the Florida Keys Monday morning and is poised to bring very heavy rainfall to south Florida on this Labor Day. As Gordon pushes into the Gulf of Mexico this week, it will interact with anomalously warm waters as it churns […]
Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt
Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt Having been told by The IMF that he must stop using their bailout funds to prop up his currency (which has been utterly futile), Argentine President Mauricio Macri addressed the troubled nation this morning to announce his plans to satisfy Christine […]
Turkey Inflation Soars To 15 Year High As Central Bank Pledges Imminent Rate Hike
Turkey Inflation Soars To 15 Year High As Central Bank Pledges Imminent Rate Hike With the Turkish lira plunging, it was not exactly a surprise that Turkish inflation data reported today came even hotter than expected, with inflation jumping a surprising 17.9% Y/Y in August, up from 15.9% and above the 17.6% consensus, with monthly […]
Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency
Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency On May 11, three days after Argentina secured a $50 Billion IMF bailout – the largest in the fund’s history – we jokingly noted that with the peso resuming its slide, an indication the market did not view the IMF backstop as credible, […]
Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles
Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles Another day, another angry rant by Turkish President Recep Tayyip Erdogan aimed at the US, who on Sunday vowed Ankara would abandon the dollar in transactions with Russia and other countries, accusing the US of behaving like “wild wolves.” “America behaves like wild […]
In Argentina “All Bets Are Off” As Peso Disintegrates
In Argentina “All Bets Are Off” As Peso Disintegrates “All bets are off” in Argentina” – as Bloomberg puts it – where the value of the local peso has plummeted, falling 20% this week alone. It is now 50$ weaker on the year versus the USD, making it the worst performing currency of 2018 and sending […]
China Moves Into Afghanistan As Part Of Its Global Expansion Mission
China Moves Into Afghanistan As Part Of Its Global Expansion Mission For many, it was a stunning development. China will build a brigade-size military training facility in the strategic Wakhan Corridor, the land bridge between Tajikistan and Pakistan, which is located in Afghanistan’s northeast Badakhshan province and borders China. Although Beijing denied the claim that hundreds of […]
Which Emerging Markets Will Run Out Of Money First: Here Is The Answer
Which Emerging Markets Will Run Out Of Money First: Here Is The Answer For years, in fact for the duration of the US dollar’s use as a global carry currency, Emerging Markets – especially those with a currency peg – were a welcome destination for yield starved US investors who found an easy source of […]
Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation
Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation Despite four rate hikes by the Bank of Indonesia since May, the Indonesia’s rupiah slid to a two-decade low, falling to 14,750 per dollar, a level last hit during the Asian Financial Crisis of 1998, and just shy of an all time low, […]
Loonie Slides As Canadian Officials Reportedly Doubt NAFTA Deal Will Get Done
Loonie Slides As Canadian Officials Reportedly Doubt NAFTA Deal Will Get Done Despite outwardly optimistic appearances from Canada’s Freeland, talks between Canadian and U.S. trade negotiators reportedly turned sour last night and Trudeau government officials are now expressing concern that a final NAFTA deal will not be concluded on Friday. “That was a long, intensive […]
Rand Tumbles As Government Warns Of “Catastrophe” Unless ‘Land Reform’ Allowed
Rand Tumbles As Government Warns Of “Catastrophe” Unless ‘Land Reform’ Allowed In a barrage of headlines that sparked chaos in FX algo markets, The South African government proclaimed proudly that it is opposed to illegal land grabs (sparking a rally in the rand) before humans realized that this is mere statement of fact and that […]
Lira Plummets After Turkish Central Bank Deputy Governor Quits
Lira Plummets After Turkish Central Bank Deputy Governor Quits It was already an ugly day for the Turkish Lira, which earlier in the day accelerated its drop for the 4th consecutive session, sending the USDTRY to the highest level since August 14 when the currency crashed over the weekend to the lowest level on record. […]
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever For the first time, FX traders are grappling with wilder swings from China than Europe. As Bloomberg notes, the offshore yuan has been more volatile than the euro all month after first overtaking the shared currency in July, according to 30-day realized data. And while euro […]
NOAA Issues Geomagnetic Storm Warning: “A Crack Opened In Earth’s Magnetic Field & Plasma Started Pouring In”
NOAA Issues Geomagnetic Storm Warning: “A Crack Opened In Earth’s Magnetic Field & Plasma Started Pouring In” According to NOAA Space Weather forecasters, a powerful G3-class geomagnetic storm is in progress on August 26th as Earth passes through the wake of a coronal mass ejection (CME) that arrived with little notice approximately 24 hours ago. Strong […]
