8 November, 2015 by The TZ Newswire Staff Comments Off on People’s Bank of China (PBOC) sets yuan reference rate at 6.3578
People’s Bank of China (PBOC) sets yuan reference rate at 6.3578
USD/CNY mid point for today set by the People’s Bank of China
– Friday’s close was 6.3530
– Friday’s mid point was set at 6.3459
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Put those two together (strong NFP is bringing the Fed ‘lift off’ closer, likely in December, while the data from China is arguing for more PBOC easing) and it should be a negative for the yuan. On the other hand, we’re waiting for an announcement from the IMF this month on inclusion into their SDR basket … which will likely keep the PBOC desiring yuan stability.
8 November, 2015 by The TZ Newswire Staff Comments Off on Yet Another Boomer Dilemma: Big Taxes in Retirement
Yet Another Boomer Dilemma: Big Taxes in Retirement
You deferred like there was no tomorrow, just like you were supposed to — and now you may have to give a big chuck of it back. What to do?
8 November, 2015 by The TZ Newswire Staff Comments Off on BRICs Finally Broke: Goldman Pulls The Plug On "Revolutionary" Acronym Fund After 88% Loss
BRICs Finally Broke: Goldman Pulls The Plug On "Revolutionary" Acronym Fund After 88% Loss
Back in February 2013, 12 years after coining the term BRIC (Brazil, Russia, India and China) as an acronym for the world’s strongest source of emerging market growth, Goldman’s Jim O’Neill retired, but not before some very (traditionally) optimistic words of parting, namely that there is “clear evidence things are doing better economically.”
This is what Goldman said in his retirement announcement:
8 November, 2015 by The TZ Newswire Staff Comments Off on Asia dips, dollar at seven-month high as U.S. jobs data bolsters case for December Fed hike
Asia dips, dollar at seven-month high as U.S. jobs data bolsters case for December Fed hike
Asian stocks slipped and the dollar stood at a 7-month high against its peers early on Monday after robust U.S. jobs data bolstered expectations of a Federal Reserve interest rate hike in December. The unemployment rate fell to 5.0 percent, the lowest since April 2008. Prospects of the Fed hiking rates for the first time in almost a decade and ending seven years of easy monetary policy, which have pump-primed global markets with flush liquidity, weighed on riskier assets.
8 November, 2015 by The TZ Newswire Staff Comments Off on Dollar higher on rising bets of Fed hike by year-end
Dollar higher on rising bets of Fed hike by year-end
The dollar remained aloft after soaring to nearly seven-month highs as U.S. jobs data prompted more investors to bet on a Fed hike by year-end.
8 November, 2015 by The TZ Newswire Staff Comments Off on Australia – ANZ job advertisements data for October: +0.4% m/m (prior +3.9%)
Australia – ANZ job advertisements data for October: +0.4% m/m (prior +3.9%)
Australia data: ANZ job advertisements data for October
– prior +3.8% m/m, revised from +3.9% m/m
– +12.1% y/y
Comments from ANZ:
– Improving job ads trend is good news, economy overall is currently tracking along pretty wel
AUD has shown barely any response
8 November, 2015 by The TZ Newswire Staff Comments Off on Weak yen helps Nikkei to outperform lackluster Asia
Weak yen helps Nikkei to outperform lackluster Asia
Asian stocks kicked off the new trading week mostly lower, tracking the mixed handover from Wall Street amid weakening commodity prices.