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Daily Dispatches
BRICs bank seeks move away from funding in dollars
Submitted by cpowell on Tue, 2019-08-06 08:10 Section: Daily DispatchesBy Tom Hancock
Financial Times, London
Monday, August 5, 2019
The New Development Bank, a lender owned by Brazil, India, Russia, China, and South Africa, is aiming to almost double its lending this year and shift its loan book away from the U.S. dollar to emphasize lending in local currencies.
Yuan's slide is watershed moment for China
Submitted by cpowell on Tue, 2019-08-06 08:04 Section: Daily DispatchesBy George Magnus
Bloomberg News
Tuesday, August 6, 2019
Trump imposes total U.S. freeze on Venezuelan government assets
Submitted by cpowell on Mon, 2019-08-05 23:16 Section: Daily DispatchesBy Makini Brice, Eric Beech, Matt Spetalnick, and Roberta Rampton
Reuters
Monday, August 5, 2019
WASHINGTON -- President Donald Trump today imposed a freeze on all Venezuelan government assets in the United States, sharply escalating a diplomatic and sanctions drive aimed at removing socialist President Nicolas Maduro from power.
China limits yuan's fall after being labeled currency manipulator
Submitted by cpowell on Mon, 2019-08-05 23:10 Section: Daily DispatchesBy Tian Chen
Bloomberg News
Monday, August 5, 2019
China took steps to slow the yuan's descent as the effects of Monday's tumble continued to weigh on markets.
This year more than ever, gold and silver investors should be in New Orleans
Submitted by cpowell on Mon, 2019-08-05 21:51 Section: Daily Dispatches9:53p ET Monday, August 5, 2019
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy and your secretary/treasurer again will be speaking at the New Orleans Investment Conference this year, and in the letter below the conference's organizer, Gold Newsletter Editor Brien Lundin, explains why you should join us there.
Pot calls kettle black as U.S. labels China a currency manipulator
Submitted by cpowell on Mon, 2019-08-05 19:31 Section: Daily DispatchesThe irony here is immense. The U.S. has just denounced China for withdrawing central bank support for its currency and thus letting its currency be valued by the market, while the U.S. government itself secretly trades in the currency and commodity markets and won't come clean about it even when a member of Congress asks:
Slide of China's yuan had OK of policymakers, sources tell Reuters
Submitted by cpowell on Mon, 2019-08-05 14:23 Section: Daily DispatchesBy Keith Zhai and Zheng Li
Reuters
Monday, August 5, 2019
Chinese monetary authorities let the yuan slide past the key 7-per-dollar level so that markets could finally factor in concerns around the Sino-U.S. trade war and weakening economic growth, three people with knowledge of the discussions said today.
Swiss central bank sight deposits hit record, suggesting FX interventions
Submitted by cpowell on Mon, 2019-08-05 12:41 Section: Daily DispatchesBy Catherine Bosley
Bloomberg News
Monday, August 5, 2019
The Swiss National Bank may have intervened to tame the franc's rise, with record-high sight deposits pointing to currency market activity.
Ambrose Evans-Pritchard: Currency war begins as China hurls devaluation back in Trump's face
Submitted by cpowell on Mon, 2019-08-05 08:27 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Monday, August 5, 2109
China has hit back against the Trump administration with a drastic exchange rate devaluation, almost guaranteeing a superpower showdown and a lurch towards full trade war.
Dollar intervention risk rises as yuan's slide stokes currency war bets
Submitted by cpowell on Mon, 2019-08-05 08:03 Section: Daily DispatchesBy Ruth Carson and Masaki Kondo
Bloomberg News
Monday, August 5, 2019
The risk of U.S. intervention to rein in the dollar is rising as a tumbling Chinese yuan stokes speculation that a global currency war is getting underway.
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