Trump's Tweets Aren't Expected to Hold Down the Dollar

25 July, 2018, 02:17 | Author: Elaine Woods
  • The yuan has fallen to its lowest levels in a year due to the trade uncertainty and expectations of fiscal stimulusMore

Trump's combative stance has compounded fears of an all-out trade and currency war, with the United States slapping tariffs on steel and aluminium from the EU, Canada and Mexico, in addition to levies on goods from China worth tens of billions of dollars.

The New Zealand dollar fell as mounting speculation the Bank of Japan will adjust its extraordinary stimulus programme drove up USA government bond yields and as Chinese authorities added more support to lenders.

In other news, hedge funds and money managers switched to a net short position in COMEX gold contracts for the first time since 2016 in the week to July 17, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.

Meanwhile, the People's Bank of China injected 502 billion yuan into its market through a medium-term lending facility, giving Chinese lenders greater liquidity by letting them borrow from the central bank.

It was last down 0.2% at 94.27, the lowest in more than two weeks.

There was some respite for gold last week when U.S. President Donald Trump branded the dollar's strength as bad for the economy, knocking the currency from one-year highs, but the breather proved short-lived.

Sebastian Vettel needs to keep pressure firmly on Lewis Hamilton in Germany
Mercedes team principal Toto Wolff explained why the decision had been made. Indeed, Hamilton could yet see out his career with the Italian marque.

Maurizio Sarri, Jorginho Arrive in London Ahead of Chelsea FC Moves
Premier League giants, Chelsea have officially announced the sacking of their Italian manager, Antonio Conte on their social media handle.

Donald Glover, John Legend, & Bruno Mars Score Emmy Nominations
In a not unexpected development, the streaming giant Netflix led all other content providers with the most Emmy nominations today. Leading the nominations in totals by platform were Netflix (112), leapfrogging last year's leader HBO , which scored 108.

In early trade Tuesday, the yield on 10-year Chinese government bonds jumped 5 basis points to 3.57 percent, and were last seen at 3.56 percent. But concerns about U.S.

Shrugging off the weaker yuan, China's stock markets rose as investors cheered the prospect of policy easing and picked up bargains.

Trump's criticism of currency manipulation by China and the European Union and media reports suggesting that the Bank of Japan is considering modifying its ultra-loose monetary policy also added to the dollar's weakness. The Shanghai Composite index .SSEC and the blue-chip CSI300 index .CSI300 both closed up 1.6 percent.

But China's Foreign Ministry denied the charge during a daily briefing in Beijing, saying the yuan's rate was determined by market forces.

In the past month, the yuan has weakened about 4.5 percent against the dollar, despite the PBOC's governor, deputy governor and the head of the banking and insurance regulator having each expressed confidence in the currency and stressing that China does not plan to devalue to gain a competitive advantage.

"The market took the news as a possible sign the anchor at the long end may allow for some natural drift higher", ANZ said in a note to clients. In some relevant currency pairs, the Japanese Yen returned to vogue as traders sought safe havens, falling from above 1.13 all the way back to 111.40 against the USD at time of writing; and the AUD/USD rebounded 0.7 per cent following two days of being trounced to now trading back over the 0.7400 handle.


  • Trump claims ex-lawyer’s phone recording ‘perhaps illegal’

    Trump claims ex-lawyer’s phone recording ‘perhaps illegal’

    President Trumps lawyer Michael Cohen exits the US Federal Court on April 16, 2018, in Lower Manhattan, New York . Yet "it remains murky whether and when a NY lawyer can ethically tape without advance disclosure", Harris said.
    Europe slams Google with a record $7.4 billion antitrust fine

    Europe slams Google with a record $7.4 billion antitrust fine

    Google illegally paid manufacturers to preinstall its Search app exclusively , protecting its search business from competition. The company also limited the ability of manufacturers to sell phones running alternative versions of Android.
    Brit diver describes unprecedented Thai cave rescue

    Brit diver describes unprecedented Thai cave rescue

    They have been recovering in hospital since they were rescued over three days last week and will discharged on Thursday. They planned to be in the cave for an hour, but flood waters forced them deeper into the cave until they were stranded.
  • Thunderstorms, Heavy Rain Headed to MetroWest

    Thunderstorms, Heavy Rain Headed to MetroWest

    In addition, there may be some vivid lightning and damaging, straight-line wind gusts within any of these storms. The next rain and storms chance is very slim with an isolated possibility on Sunday mainly in the afternoon.
    Whistleblower Alleges Tesla Has Misled Investors

    Whistleblower Alleges Tesla Has Misled Investors

    Following the change, Tesla buyers will only be eligible to receive the full $7,500 federal tax credit until December 31. People walk past a showroom outside Tesla China headquarters at China Central Mall in Beijing, China July 11, 2018.
    Trump claims North Atlantic Treaty Organisation  victory after 'go it alone' ultimatum

    Trump claims North Atlantic Treaty Organisation victory after 'go it alone' ultimatum

    Contrary to what Trump's supporters will say, the Mueller investigation is clearly not ending any time soon, nor should it. President Donald Trump as a negotiation partner at their upcoming talks in Helsinki , the Kremlin said Friday.
  • Johnny Football heads to Montreal

    Johnny Football heads to Montreal

    Montreal has thrown out three different starting quarterbacks this season and boasts the worst offense in the CFL. In a recent interview, he said he's been diagnosed with bipolar disorder and has stopped drinking.
    Trump Threatens to Slap Tariffs on Everything Imported From China

    Trump Threatens to Slap Tariffs on Everything Imported From China

    President Donald Trump is criticizing the Federal Reserve as well as some of the largest US trading partners over monetary policy. But despite Trump's comments, the Federal Reserve has long maintained that politics don't influence its decision making process.
    Nancy Sinatra, the first wife of Frank Sinatra, dies at 101

    Nancy Sinatra, the first wife of Frank Sinatra, dies at 101

    When Sinatra shot to fame in the 1940s, the couple relocated to Los Angeles, where their youngest daughter Tina Sinatra was born. Nancy devoted herself to family and friends and withdrew from the showbusiness spotlight after her divorce from Sinatra.
  • Dead, 6 Missing: The Latest on the Branson Duck Boat Sinking

    Dead, 6 Missing: The Latest on the Branson Duck Boat Sinking

    The boat capsized Thursday evening when a thunderstorm hit the area and brought winds that approached near-hurricane speeds. He said it is unknown whether the captain or Ride the Ducks staff checked the forecast prior to going on the lake.
    Antonio Conte Writes Emotion Message To Chelsea Following His Sacking

    Antonio Conte Writes Emotion Message To Chelsea Following His Sacking

    Sarri's first game at the helm is scheduled to be the July 23 friendly against Perth Glory in Western Australia. And an excited Sarri believes the squad is close to the level he wants before the new campaign gets underway.
    Belgium star Hazard drops Chelsea exit hint

    Belgium star Hazard drops Chelsea exit hint

    Next week it will be Bayern. "You know my preferred destination", Hazard said. We all know that I've always felt well at Chelsea , so.


‘I, Tonya’ Spoof Starring Danica Patrick And Aaron Rodgers Premieres At ESPYs
The newly retired racecar driver was the first woman to host the annual show honoring the past year's best athletes and moments. The awards recognize the best athletes in addition to the experiences and the best all-around members of the community.

Roma not rushing to sign Alisson replacement after Liverpool move - Monchi
It's now been viewed over 50,000 times and Liverpool fans have noticed something very promising about Alisson: his English. Liverpool this week completed the world record £ 65million signing of goalkeeper Alisson from Roma.

Trump blasts Montenegro, questions North Atlantic Treaty Organisation mutual defence
Justice Department and intelligence agencies that Russian Federation interfered in the 2016 election. TRUMP: No, by the way, they have very strong people - they have very aggressive people.

MEP Paet: Trump, Putin's closed-door meeting increased confusion
PRESIDENT DONALD TRUMP: There's never been a president as tough on Russian Federation as I have been. Once he got there, he returned to Twitter to complain about news coverage of Monday's meeting.

Ancient sarcophagus found at Egyptian building site opened
David Milner, editor at Gamer Informer Australia, tweeted: "As a fan of Brendan Fraser's " The Mummy ", I say don't open the cursed sarcophagus".

Comcast dropping out of 21st Century Fox bidding, clearing path for Disney
However with Comcast out of the race, Fox shareholders really only have one option to choose and this should quicken the process. And as with any blockbuster franchise, there are already sequels lined up.

MLB Home Run Derby: How to watch, when it starts and more
He trailed Max Muncy of the Dodgers 12-4 with 2:20 left, then peeled off six homers in 47 seconds before calling a timeout. A few years ago Major League Baseball revamped the Home Run Derby format to make things more exciting and hey, it worked.

Royals release adorable christening portraits from Prince Louis’ christening
The British royal family released four photographs on Sunday (July 15) to commemorate Prince Louis' christening . TAP IMAGE FOR GALLERY The fifth-in-line to the throne giggles with delight in the fifth portrait.

Kate Upton Is Pregnant with Her First Child!
Her photo - snapped as she posed in a red suit and white top on a balcony - showed the slightest peek of a baby bump. TMZ reports that Upton is in Miami for Sports Illustrated's Swimsuit Model Search during Miami Swim Week.

Mueller asks court for 100 more blank subpoenas ahead of Manafort trial
Defense lawyers, in response, said the government had selected "snippets" of the conversations to support their version of events. A filing from special counsel Robert Mueller's office might shed some light on why Manafort wanted to stay where he is.