EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
View Hot-Chart..
Evidence of strengthening domestic spending in China undermined the case for Premier Wen Jiabaos government to resist a faster pace of currency appreciation days before U.S. lawmakers meet to address the issue.
Industrial production rose 13.9 percent in August from a year before, the most in three months, and retail sales and lending figures topped economists estimates, statistics bureau and central bank data released Sept. 11 in Beijing showed. Imports also accelerated, in another sign Chinese growth is picking up after a second-quarter moderation.
Inflation is 1.25 percentage points above the benchmark one-year deposit rate. So-called negative real interest rates often encourage savers to shift money into assets such as real- estate, sparking risk of bubbles.
The central bank reported August new loans of 545.2 billion yuan ($80 billion) and a 19.2 percent increase in M2, the broadest measure of money supply. Both numbers were above economists estimates. The rebound in M2 growth was the first in nine months.
Ashraf
not a brilliant idea. As Russia has high inflation as a result of lack of productivity and China as a result of aid packages this move will drive inflation up in both economies eventually PBOC will
quit USD peg and let Yuan flow. Only the oligarchs both Russian and Chinese will profit.
China may start trading its currency against the ruble within weeks, three bankers with knowledge of the matter told Bloomberg, and sent out a document last week allowing lenders to apply for ruble trading licenses, one of them said. Russias Micex Stock Exchange is making preparations to trade the ruble against the yuan in an initiative that has the backing of the countrys central bank, Ruben Aganbegyan, the head of the bourse, told reporters at a conference in Moscow today.
Given the risk to the dollar and U.S. assets from their fiscal position they want to reduce their dependence on the dollar as an invoicing currency,
http://www.businessweek.com/news/2010-09-08/china-russia-push-yuan-ruble-trading-to-diminish-dollar-role.html
Ashraf
Ashraf
http://bit.ly/firstdayofthemonthsqueeze
http://bit.ly/seekingalphafxcftcrules