{"id":11139,"date":"2015-08-17T07:26:59","date_gmt":"2015-08-17T12:26:59","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11139"},"modified":"2015-08-17T07:26:59","modified_gmt":"2015-08-17T12:26:59","slug":"asian-currency-crisis-continues-as-china-holds-malaysia-folds-japan-heads-for-quintuple-dip-recession","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11139","title":{"rendered":"Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession"},"content":{"rendered":"

Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession<\/a><\/h3>\n

Asia got off to an inauspicious start this evening with\u00a0Japan printing a disappointing 1.6% drop in GDP – heading for its fifth recession in 6 years…<\/strong>\u00a0so much for Abenomics, but, of course, Amari spewed forth some standard propaganda that he expects Japan to recover moderately (and Japanese stocks popped modestly assuming moar QQE). Then Malaysia continued its collapse with the\u00a0Ringgit down another 1% hitting fresh 17-year lows<\/strong>\u00a0and stocks dropping further,\u00a0as the Asian Currency crisis continues<\/a>. Heading into the China open, offshore Yuan signaled further devaluation but the CNY Fix printed very modestly stronger at 6.3969; and following last week’s best gains in 2 months,\u00a0Chinese stocks are plunging at the open<\/strong>\u00a0after Chinese farmers\u00a0extend their streak of margin debt increases<\/strong>. Finally,\u00a0WTI Crude drifted back to a $41 handle<\/strong>\u00a0in early futures trading.<\/p>\n

Asian Contagion…<\/strong><\/u><\/p>\n

Japan heads for Quintuple Dip recession…<\/p>\n

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The Asian currency crisis continues\u00a0(led by Malaysia)<\/a><\/p>\n