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Daily Dispatches
China lets yuan fall below 7 per dollar as trade war escalates
Submitted by cpowell on Mon, 2019-08-05 00:05 Section: Daily DispatchesBy Tian Chen
Bloomberg News
Sunday, August 4, 2019
The yuan plunged beyond 7 per dollar for the first time since 2008 amid speculation Beijing was allowing currency depreciation to counter President Donald Trump's latest tariff threat.
As gold and silver catch fire, what's happening?
Submitted by cpowell on Sun, 2019-08-04 23:43 Section: Daily Dispatches11:53p ET Monday, August 4, 2109
Dear Friend of GATA and Gold:
A friend who has not been paying close attention to the gold market for a while asked your secretary/treasurer this afternoon for a summary of his outlook. With the monetary metals on fire tonight as they have not been for a long, long time, maybe the reply is worth sharing:
Abrupt ousters, public missteps sink morale inside New York Fed
Submitted by cpowell on Sun, 2019-08-04 22:00 Section: Daily DispatchesPoor things.
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By Matthew Boesler, Alex Harris, and Liz McCormick
Bloomberg News
Sunday, August 4, 2019
As the financial world watches the White House turn up the heat on the Federal Reserve in Washington, another Fed drama has been playing out right on Wall Street's doorstep.
Putin's pledge to ditch the dollar is slowly being fulfilled
Submitted by cpowell on Sun, 2019-08-04 10:06 Section: Daily DispatchesBy Andrey Biryukov
Bloomberg News
Saturday, August 3, 2019
Russia is acting on a pledge by President Vladimir Putin to shrink the role of dollar in international trade as tensions sour between Washington and Moscow.
White House's Kudlow again says no dollar intervention
Submitted by cpowell on Fri, 2019-08-02 23:54 Section: Daily DispatchesBy Ryan Haar
Bloomberg News
Friday, August 2, 2019
White House economic adviser Larry Kudlow said today the administration would not undertake currency intervention, one week after President Donald Trump explicitly said he had not ruled out taking steps on the dollar.
Stefan Gleason: As Fed disappoints, will Trump try currency intervention?
Submitted by cpowell on Fri, 2019-08-02 11:01 Section: Daily DispatchesBy Stefan Gleason
Money Metals Exchange, Eagle,Idado
Thursday, August 1, 2019
Following months of cajoling by the White House, the Federal Reserve finally cut its benchmark interest rate. However, the reaction in equity and currency markets was not the one President Donald Trump wanted -- or many traders anticipated.
Trump's new tariffs may set stage for more Fed rate cuts
Submitted by cpowell on Fri, 2019-08-02 10:36 Section: Daily DispatchesBy Ann Saphir and Richard Leong
Reuters
Friday, August 2, 2019
U.S. President Donald Trump's surprise move on Thursday to impose new tariffs on Chinese imports has thrown the Federal Reserve another curveball that may force the central bank to cut interest rates more than it had hoped was necessary to protect the U.S. economy from trade-policy risks.
Torgny Persson: The history of the world is a history of gold
Submitted by cpowell on Thu, 2019-08-01 19:42 Section: Daily Dispatches7:40p ET Thursday, August 1, 2019
Dear Friend of GATA and Gold:
Ted Butler hails new CFTC chairman's support for limiting derivatives positions
Submitted by cpowell on Thu, 2019-08-01 18:53 Section: Daily Dispatches6:50p ET Thursday, August 1, 2019
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler today welcomes a statement by the new chairman of the U.S. Commodity Futures Trading Commission, Heath Tarbert, that the commission "must issue long-awaited rules to limit derivatives positions that help unscrupulous traders corner commodity markets."
While incomplete, records show that JPMorganChase is the New York Fed
Submitted by cpowell on Thu, 2019-08-01 13:58 Section: Daily Dispatches1:57p ET Thursday, August 1, 2019
Dear Friend of GATA and Gold:
Wall Street on Parade's Pam and Russ Martens today delve into the intimate relationship between the Federal Reserve Bank of New York and JPMorganChase & Co., the latter having been commissioned as the New York Fed's agent in rescuing the investment bank Bear Stearns in 2008 with billions of New York Fed money.
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