The Traderszone Network

Just a look at USD/CNY
it approached toward yesterday’s highs and has fallen away from there
PBOC briefing is ongoing

China’s central bank reiterated that there was no need for more currency depreciation, calling reports of a possible yuan drop of 10 percent “groundless.”

From the People’s Bank of China briefing on the yuan, deputy governor Yi Gang:
– N
– hina’s ample fx reserves, trade surplus, sound fiscal position and financial system to provide “strong support” for yuan
Quick Headlines via Reuters , more to come

Submitted by Cassius Methyl via TheAntiMedia.org,

Throughout the world, the U.S. prison system is often seen as inhumane and excessively large.

read more

The dollar struggled as the yuan’s depreciation slowed, with the market awaiting the currency’s fixing for clues on how far Beijing will let it slide.

Our initial look at the quantity theory was very positive.  Over long periods of time the growth rates of M and P are highly correlated, in a sample that includes high inflation countries.  Even better, some of the discrepancy is explained by growth in real GDP.  And better still, the coefficient on RGDP growth was approximately negative one.  Let’s use an example to think about what that means.

read more

– Buyers 124.00 then 123.50 and 123.70
Currently