As Since it is quiet now on the football front but not so on the economic front, for sptrader and others who are interested, I thought I would advise of new report that indicates IMF will leave the basket of currencies as is re: the SDR until 9-30-16. So, postponed for a year. Some of you may have been interested for your own investment purposes. If you wish to read about it, there is a report of July 16 on the IMF's web site called: "Review of the Method of Valuation of the SDR - Initial Considerations". In response to this economist, James Rickards tweeted: "Means another year of USD/CNY peg & more deflation". You have to wonder why the postponement and why the move to late 2016?
And as an aside, so what will Yellen do re: interest rates this year?
P.S. for those who did not know, the IMF is going to consider placing the Chinese Yuan in the basket of currencies re: the SDR - Special Drawing Rignts. Is that a big thing? Yes, it is to China, who will then have a place at the table.
Thought I would further add: Just this morning - "US June Trade Deficit Surges 7% To $43.8 Billion As Strong Dollar Slams Exports, Imports Rise".
As Rickards says: As interest rates raise this will make for a stronger dollar. A stronger dollar is deflationary. The Federal reserve wants inflation. Response: Oops!
And as an aside, so what will Yellen do re: interest rates this year?
P.S. for those who did not know, the IMF is going to consider placing the Chinese Yuan in the basket of currencies re: the SDR - Special Drawing Rignts. Is that a big thing? Yes, it is to China, who will then have a place at the table.
Thought I would further add: Just this morning - "US June Trade Deficit Surges 7% To $43.8 Billion As Strong Dollar Slams Exports, Imports Rise".
As Rickards says: As interest rates raise this will make for a stronger dollar. A stronger dollar is deflationary. The Federal reserve wants inflation. Response: Oops!
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