Archive - August, 2015

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The US Dow Jones Index dropped over 1000 points on the open today amid extreme volatility in the markets as the Shanghai Composite Index finished it's trading session down 8.5% at 3209.91. The slowdown in the Chinese economy is having huge repurcussions not only in equities which have seen a massive correction across the board in commodities too. Both Europe and the US are feeling the heat; FTSE100 is currently down 4.5%; CAC down 7% & Dax off 6%. US Crude Oil has extende…

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The PBoC’s overnight move to weaken its national currency, the RMB (Chinese Yuan), shows a significant shift in policy. They confirm they are to play a greater role going forward in the management of the exchange rate, sending ripples through the foreign exchange market. The move certainly comes at an opportune time for them following a series of weak macro trade data out of the country recently; exports have tumbled 8.3% in July from a year earlier and there has been a severe sl…

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