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EUROPE
These
banks are in the worst affected Eurozone countries, and their continued stress
significantly impedes the flow of credit and also reduces lending. Policymakers
need to seriously consider how and when to restructure and resolve these banks.
The
only thing that can save Europe’s common currency is another common currency —
for the B-Team.
Introducing
an alternative currency is not particularly difficult as long as the
fundamentals of currency design are understood by its architects
This
Working Paper assesses various explanations for the EU’s increased current
account.
UNITED STATES
FEDERAL RESERVE
Chinese
currency’s fall is impacting US monetary conditions – Pictet
Poll:
U.S. Fed likely to raise interest rates twice this year – Reuters
US
Watch – Fed preparing for lift-off – ABN AMRO
Q3
GDP Forecast Slashed To Just 0.7% - ZH
DATA
Retail
Sales Meets Expectations, Leaves Door Open For September Rate Hike – ZH
Retail
Sales increased 0.6% in July – Bill McBride
Retail
Sales Show Broad Gain as U.S. Consumers Spur Growth – BB
U.S.
retail sales rebound; labor market tightening – Reuters
July
retail sales solid, Q2 data were revised up – Pictet
ASIA
CHINA’S DEVALUATION
Chinese
Devaluation Extends To 3rd Day – ZH
A
closer look at China’s currency moves – ABN AMRO
Why
China Devalued the Yuan – BB
China’s
Central Bank Gives Verbal Support to Yuan – BB
Yuan
Fixing Goes From Obscure to Obsession for Global Traders – BB
Yuan
Bears Vindicated by Tumble See More Pain – BB
Recent
History of the Chinese Yuan in One Big Chart – BB
Central
bank soothes, says no reason for yuan to fall further – Reuters
China
defends new currency regime – FT
Paul
Krugman: China 2015 Is Not China 2010 – NYT
EM
FX Weekly – Change in China’s FX regime – ABN
AMRO
REGULARS
U.S. Stocks Recover from
Early Selloff
Global Markets Rally
After China Talks
What China’s Yuan Move
Means for the Fed’s Liftoff
Third CNY devaluation: CNY
worries starting to feed the classic safe haven flows in the Euro-area, big
swings in US Treasuries * Eyes on Sweden: yet another too low Swedish inflation
reading
China's devaluation of
the yuan has sent world markets for a loop with many USD bulls particularly
concerned about the status of the long-awaited September rate hike. So has
Beijing knocked the Federal Reserve off course? Today's data may provide
traders with a clue.
Markets Ease
Exaggeration, Dollar and Stocks Recover
The US equity market made a strong
comeback around key technical levels and the PBOC slammed the brakes on the
yuan devaluation overnight, altering the playing field for the major currencies
for the second time this week. Will the USD respond with a rally?
There is more to the
situation surrounding crude oil and energy prices than the macro currents
coming from China. Here we take a look at some factors driving markets.
Boris Johnson: In the event of
Brexit much of UK-EU relationship would be rebuilt on an intergovernmental
level * German Deputy Finance Minister: We’re open to debt relief for Greece,
but write-down is out of the question * FT: Portugal faces ‘perfect demographic
storm’ * Saxon branch of Merkel’s party calls for border controls to deal with
immigration influx * Heaviest shelling in Eastern Ukraine since February’s
ceasefire accord
Red face over black face
— Uber's X Factor — Carter's cancer
Risk On Despite Third
Chinese Devaluation In A Row As PBOC Jawbones, Intervenes In FX Market
Asian
shares and currencies have gained on hopes that China is slowing the yuan's
descent.
FINNISH
Kiina
pysyi eilen rahoitusmarkkinoiden ajurina | USA:n avoimet työpaikat laskivat |
Ruotsin inflaatio-odotukset laskivat hienoisesti
Työeläkeyhtiö Varman toimitusjohtajan Risto Murron mukaan
euroalueen yhdentymistä olisi syvennettävä selvästi, jotta valuuttaunioni
onnistuisi. Kreikka tulee aina olemaan tuen tarpeessa, ja se on vain
hyväksyttävä, Murto toteaa.
Teollisuuden liikevaihto maalis-toukok. -4% YoY – Tilastokeskus