29 May, 2016 by The TZ Newswire Staff Comments Off on China Sends Yellen Another Warning, Fixes Yuan At Lowest In Over Five years
China Sends Yellen Another Warning, Fixes Yuan At Lowest In Over Five years
We got an early hint of what the PBOC would do tonight on Friday and Saturday, when as we reported, an unprecedented volume burst of bitcoin buying out of China, sent the digital currency soaring to the highest level since 2014.
29 May, 2016 by The TZ Newswire Staff Comments Off on Australian Q1 data: Inventories +0.4% (expected flat), Company profits -4.7% (+0.4%)
Australian Q1 data: Inventories +0.4% (expected flat), Company profits -4.7% (+0.4%)
– Inventories +0.4% q/q (expected flat, prior was -0.4%)
– Company Profits -4.7% q/q (expected +0.4%, prior -2.8%)
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Wages +0.6% q/q
Mining profits down to levels they were at in late 2009. Mining makes up around 25% of this survey, a big contributor so falls in profit in that sector weighing on the results. Raise your hand if this is a surprise to toy, and then go an sit in the naughty corner. Not news.
29 May, 2016 by The TZ Newswire Staff Comments Off on Fed’s Bullard: Prefers to reserve judgement on June until the meeting
Fed’s Bullard: Prefers to reserve judgement on June until the meeting
James Bullard, president & CEO of the Federal Reserve Bank of St. Louis in a news conference from Seoul, South Korea at the Band of Korea conference
– Says revised GDP was encouraging
29 May, 2016 by The TZ Newswire Staff Comments Off on People’s Bank of China sets yuan reference rate at 6.5784 (vs. Friday at 6.5490)
People’s Bank of China sets yuan reference rate at 6.5784 (vs. Friday at 6.5490)
Meanwhile, over at the money market desk, the PBOC injects 65bn yuan via 7-day reverse repos
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The USD strength on Friday (especially in the US timezone) playing out in a higher USD/CNY setting today from the PBOC.
29 May, 2016 by The TZ Newswire Staff Comments Off on Dollar/yen hits 1-month high
Dollar/yen hits 1-month high
The dollar hit a one-month high against the yen early on Monday and stood tall against other peers after comments after comments by Janet Yellen.
29 May, 2016 by The TZ Newswire Staff Comments Off on "This Is Not The America My Parents Immigrated To In 1957"
"This Is Not The America My Parents Immigrated To In 1957"
Submitted by ‘Stucky’ via The Burning Platform blog,
Not that I remember what America was like in 1957, as I was not yet five years old. Years later, when I was old enough to understand, they told me their story. Briefly, it goes like this.
29 May, 2016 by The TZ Newswire Staff Comments Off on The Wall Street Journal: Fed’s Bullard: Monetary policy has little effect on employment
The Wall Street Journal: Fed’s Bullard: Monetary policy has little effect on employment
Monetary policy cannot substantially affect U.S. labor-force participation that has been declining in recent years, Federal Reserve Bank of St.