Uwe Parpart


Fast growth in China manufacturing spurs yuan rise

Fast growth in China manufacturing spurs yuan rise

(ATF) The People's Bank of China (PBoC) set central parity for the yuan (CNY) at 6.9980 to the US dollar on Monday morning. That was down from Friday's 6.9848 and proved a poor predictor of the currency's movement during the trading day.By early afternoon HK time, CNY traded at 6.9721, ...

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US tanks, China grows and their currencies show it

US tanks, China grows and their currencies show it

(ATF) US GDP shrank 9.5% quarter-on-quarter in the three months to the end of June (32.9% on an annualised basis). It was the worst such drop since 1947.There certainly will be a significant turnaround in the third quarter, but it surely won't be as dramatically V-shaped as White House economic ...

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HK-US dollar peg assailable only at large cost to greenback

HK-US dollar peg assailable only at large cost to greenback

(ATF) A couple of months ago, Texas hedge fund manager and sworn China foe Kyle Bass told the world he was raising a fund to make a 200 times leveraged bet against the Hong Kong currency – in effect, a bet that the HKD peg to the USD would be ...

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To hedge against US dollar decline, think China and Korea 

To hedge against US dollar decline, think China and Korea 

(ATF) After a bit of a breather yesterday when gold dropped by more than $50 at one point, the US dollar resumed its decline on Wednesday and at 6pm (HK time) traded at 93.5110 on the dollar index (DXY). It had fallen as low as 93.3970 at 3:45pm.Gold meanwhile has ...

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Gold pauses ... as it awaits more signals of doom?

Gold pauses ... as it awaits more signals of doom?

(ATF) In 1924, John Maynard Keynes called gold – or rather, the gold standard – a "barbarous relic." The phrase is pulled out of the drawer every time a rally in gold appears to have gone too far. It's soon again shelved and forgotten every time the global lead currency, ...

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Hedging dollar decline, buying gold ... and the yuan?

Hedging dollar decline buying gold ... and the yuan?

(ATF) As I write this, at 7pm Hong Kong time, the dollar index (DXY), the US dollar's value against a basket of major currencies, has broken well below a 6-year line of support at 94.3539, and stands at 93.7860 – down 0.7% for the day – and is threatening to ...

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US economy stalling, US dollar at increased risk

US economy stalling, US dollar at increased risk

(ATF) Take a look at the Google Mobility chart for the US below.After some decent recovery through the end of June, workplace and retail-related mobility have taken another hit and economic recovery has stalled.Initial US jobless claims published Thursday painted a bleaker picture: Weekly claims – for the week ended ...

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