Home » Posts tagged 'yuan'
Tag Archives: yuan
Iraqi central bank to drop dollar for yuan in trade with China
Iraqi central bank to drop dollar for yuan in trade with China Iraq is the latest nation in the Global South to move away from the US dollar in bilateral trade with China (Photo credit: AFP) The Iraqi central bank announced on 22 February that, for the first time, it plans to allow trade from […]
Zoltan Pozsar: G7 Investors Should Worry About Gold-Backed Renminbi Eclipsing Dollars, Commodity Encumbrance
Zoltan Pozsar: G7 Investors Should Worry About Gold-Backed Renminbi Eclipsing Dollars, Commodity Encumbrance Credit Suisse contributor Zoltan Pozsar has continued his ongoing series about Bretton Woods III where commodities will dictate the new world order. For his last dispatch of the year, he described how the world is now shifting to a multipolar order “being built not […]
What? Default? Where? Dollar?
What? Default? Where? Dollar? It won’t come as a surprise to anyone that the first half of 2020 has brought, among many other things, renewed calls for the demise of the US dollar. It’s been pretty much a non-stop call for over a decade now, and longer. But this time, like all previous ones, I’m […]
Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps
Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps While gold is spiking higher and stocks are getting hammered lower after a weekend of ugly headlines surrounding the lethality and spread of the novel coronovirus, the Saudis are desperately talking down the crash in crude oil prices… Brent is back below $60 and […]
Powell Rate Cut Unleashes Volatility Tsunami
Powell Rate Cut Unleashes Volatility Tsunami It wasn’t supposed to work this way. In the rate cut playbook envisioned by Trump, Powell’s July 31st rate cut was supposed to send stocks higher while crushing the dollar. However, when the FOMC announce a “mid-cycle”, 25bps cut, the outcome was not only a surge in the dollar […]
Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low; Global Markets Tumble After Beijing Suspends US Agri Imports
Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low; Global Markets Tumble After Beijing Suspends US Agri Imports Update 3: The carnage from yuan volatility is starting to spread… Chinese bond yields are tumbling… Dow futures are down 300 points… S&P futures below 2900… UST yields are collapsing… And the yield curve […]
The Dying Days Of An Empire
The Dying Days Of An Empire Something’s been nagging me for the past few days, and I’m not sure I’ve figured out why yet. It started when Donald Trump first called off the alleged planned strikes on targets in Iran because they would have cost 150 lives, and then the next day said the US […]
Has China Finally Lifted its Thumb off of Gold?
Has China Finally Lifted its Thumb off of Gold? There’s a lot of talk about the Yuan price of gold falling out of a price suppression channel. Both Zerohedge and Nomura have weighed in on this. The Yuan price of gold surged overnight to above CNY 8500 per ounce which is a major breakdown But […]
Market crash? Another red card for the economy
Market crash? Another red card for the economy A few months ago I wrote this article at the World Economic Forum called “A Yellow Card For The Global Economy“. It tried to serve as a warning on the rising imbalances of the emerging and leading economies. Unfortunately, since then, those imbalances have continued to rise […]
Beijing Eases Policy, Yuan Slides Towards 10-Year Low
Beijing Eases Policy, Yuan Slides Towards 10-Year Low On Sunday, the Bank of China cut the level of cash that banks must hold as reserves. The Yuan continued its slide. Reuters reports China Set to Reopen After Beijing Eases Policy. Shares in Asia stumbled in early trade on Monday as investors waited with bated breath […]
“Something Has to Break” as China’s Onshore Defaults Hit a New Record
“Something Has to Break” as China’s Onshore Defaults Hit a New Record Recent news from China has been really ugly. But what can you expect? They’re trying to fight a trade war against the U.S. – deal with slowing growth – and survive against a stronger U.S. dollar. And because of these problems – China’s major […]
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 […]
“Virtually Everybody Knew This Was Coming”
“Virtually Everybody Knew This Was Coming” Was it Turkey’s “executive presidency” and its unwillingness to hike rates in the face of soaring inflation? Or maybe the record global debt accumulated over the past decade? Maybe the artificially low interest rates? Or perhaps it was the pervasive current account deficits amid easy outside capital. How about […]
Gold Yuan Crypto
Gold Yuan Crypto George Caleb Bingham The verdict of the people 1854It’s been a while since we last heard from Dr. D, but here he’s back explaining why neither gold nor the yuan nor cryptocurrencies can or will replace the dollar as the reserve currency, but together they just might: Dr. D: “Some debts are […]
Has the PBoC deliberately weakened CNY as part of the trade war?
Has the PBoC deliberately weakened CNY as part of the trade war? It has been another trade war week, as the market has been looking for clues on the Chinese retaliation measures against the Trump tariffs that are planned to go live on 6 July. Global trade momentum started to weaken even before the trade […]
