TNT:
Mangelo: good morning…. the only news I heard as from early this morning...Forex pulled at 1118 Party law received a unanimous vote. All Abadi reforms are established. everyone is looking for this to happen tonight
RSquared: Santelli Report on CNBC just stated that the "recalibration" of world currencies will take quite awhile to be achieved. Go RV
DK: More than 20 cooperation deals including “energy, finance and investment, transport and logistics”, will be signed after talks between Putin and Xi on September 3.
Iko Ward: Crude is rising, just like drill sergeant said it would. … The Saudi market is also up
OleSailor: iko so when are we going into a death spiral, jejejeej
Iko Ward: Olesailor...maybe tonight from what all are saying.
....
Mangelo: good morning…. the only news I heard as from early this morning...Forex pulled at 1118 Party law received a unanimous vote. All Abadi reforms are established. everyone is looking for this to happen tonight
RSquared: Santelli Report on CNBC just stated that the "recalibration" of world currencies will take quite awhile to be achieved. Go RV
DK: More than 20 cooperation deals including “energy, finance and investment, transport and logistics”, will be signed after talks between Putin and Xi on September 3.
Iko Ward: Crude is rising, just like drill sergeant said it would. … The Saudi market is also up
OleSailor: iko so when are we going into a death spiral, jejejeej
Iko Ward: Olesailor...maybe tonight from what all are saying.
....
********************************
Dinar Updates:
Q: [Does anyone know what has been said...over the bloomberg report stating that Iraq will have to devalue their currency? How can a currency that is not traded world wide and is already at a false low be devalued?]
BGG: Bloomberg did not say the Iraqi currency would be devalued...it was interesting Bloomberg was even talking about it - but their tone, tenor and confused looks ought to be enough to convince you that most of what "the experts" say is speculative double talk...
and if Iraq gets Maliki tossed out it will likely "depeg" (float) and go UP IMMEDIATELY (if what they were saying is right).
***********************************
KTFA:
PAPPA-J: REALLY ???? KUWAIT SAID THE SAME THING JUST BEFORE THEY REVALUED!!!! ALL I CAN SAY IS LIAR LIAR PANTS ON FIRE!!!! Lol (See Article below)
Walkingstick: SBV to hold forex rate steady until early 2016
The State Bank of Viet Nam has said it would hold the exchange rate steady till the end of the year and also in the early months of 2016.
Vietnam, SBV, exchange rate, trading band
The bank's statement came after the US dollar-dong exchange rate touched the cap of VND22,547 set by the central bank on Monday.
Yesterday, commercial banks continued to list the ceiling rate despite the central bank's statement.
Vietcombank listed the dollar buying and selling rates at VND22,500 and VND22,547, respectively, while the rates of BIDV and Vietinbank were VND22,510 and VND22,547, respectively, the same as yesterday.
Sacombank raised its buying rate by 20 dong to touch VND22,480, while maintaining the selling rate at VND22,547.
SBV Deputy Governor Nguyen Thi Hong said the change in the forex market in the last few days was due to psychological factors and speculative rumours.
Hong said with the goal of stabilising the market, the central bank had prepared a set of necessary measures and tools and was willing to intervene by selling foreign currencies to stabilise the exchange rate and the market within the set band.
In August, the central bank increased the exchange rate by one per cent and widened the trading band to three per cent.
Hong said the above adjustment was very strong as the central bank was preparing for volatility, including further devaluation of the Chinese yuan and a possible US Federal Reserve rate increase in the next few months.
"With the adjustment, the SBV has given the Vietnamese dong ground large enough to be flexible against adverse developments on both the domestic and international markets, not only in the final months of the year but also into the early months of 2016, bringing stability to the currency market and ensuring the competitiveness of Vietnamese goods," Hong said.
Director of Business Development Institute Le Xuan Nghia said the volatility of the forex market during the past few days was due to the market expectation that the central bank would continuously devalue the dong.
However, Nghia said the expectation was baseless, adding that there would be no further devaluation till the end of the first quarter next year.
Nghia said the central bank scrutinised the situation before deciding to make two separate adjustments, one following the other in just a week, instead of a single adjustment.
The central bank on August 12 widened the dong trading band from one per cent to two per cent as an initial proactive response to the largest depreciation of the Chinese yuan in the past 20 years, he said.
However, after the strong devaluation of the Chinese yuan, the domestic market sentiment was still concerned about the possible consequences of an interest rate rise by the United States Federal Reserve. To continue leading the market proactively and pre-empt any adverse impacts of the Fed Reserve's rate rise in the future, the SBV decided to increase the American dollar-dong exchange rate by one per cent and widen the trading band from two per cent to three per cent, Nghia said.
http://ift.tt/1i4J8pf
Dinar Updates:
Q: [Does anyone know what has been said...over the bloomberg report stating that Iraq will have to devalue their currency? How can a currency that is not traded world wide and is already at a false low be devalued?]
BGG: Bloomberg did not say the Iraqi currency would be devalued...it was interesting Bloomberg was even talking about it - but their tone, tenor and confused looks ought to be enough to convince you that most of what "the experts" say is speculative double talk...
and if Iraq gets Maliki tossed out it will likely "depeg" (float) and go UP IMMEDIATELY (if what they were saying is right).
***********************************
KTFA:
PAPPA-J: REALLY ???? KUWAIT SAID THE SAME THING JUST BEFORE THEY REVALUED!!!! ALL I CAN SAY IS LIAR LIAR PANTS ON FIRE!!!! Lol (See Article below)
Walkingstick: SBV to hold forex rate steady until early 2016
The State Bank of Viet Nam has said it would hold the exchange rate steady till the end of the year and also in the early months of 2016.
Vietnam, SBV, exchange rate, trading band
The bank's statement came after the US dollar-dong exchange rate touched the cap of VND22,547 set by the central bank on Monday.
Yesterday, commercial banks continued to list the ceiling rate despite the central bank's statement.
Vietcombank listed the dollar buying and selling rates at VND22,500 and VND22,547, respectively, while the rates of BIDV and Vietinbank were VND22,510 and VND22,547, respectively, the same as yesterday.
Sacombank raised its buying rate by 20 dong to touch VND22,480, while maintaining the selling rate at VND22,547.
SBV Deputy Governor Nguyen Thi Hong said the change in the forex market in the last few days was due to psychological factors and speculative rumours.
Hong said with the goal of stabilising the market, the central bank had prepared a set of necessary measures and tools and was willing to intervene by selling foreign currencies to stabilise the exchange rate and the market within the set band.
In August, the central bank increased the exchange rate by one per cent and widened the trading band to three per cent.
Hong said the above adjustment was very strong as the central bank was preparing for volatility, including further devaluation of the Chinese yuan and a possible US Federal Reserve rate increase in the next few months.
"With the adjustment, the SBV has given the Vietnamese dong ground large enough to be flexible against adverse developments on both the domestic and international markets, not only in the final months of the year but also into the early months of 2016, bringing stability to the currency market and ensuring the competitiveness of Vietnamese goods," Hong said.
Director of Business Development Institute Le Xuan Nghia said the volatility of the forex market during the past few days was due to the market expectation that the central bank would continuously devalue the dong.
However, Nghia said the expectation was baseless, adding that there would be no further devaluation till the end of the first quarter next year.
Nghia said the central bank scrutinised the situation before deciding to make two separate adjustments, one following the other in just a week, instead of a single adjustment.
The central bank on August 12 widened the dong trading band from one per cent to two per cent as an initial proactive response to the largest depreciation of the Chinese yuan in the past 20 years, he said.
However, after the strong devaluation of the Chinese yuan, the domestic market sentiment was still concerned about the possible consequences of an interest rate rise by the United States Federal Reserve. To continue leading the market proactively and pre-empt any adverse impacts of the Fed Reserve's rate rise in the future, the SBV decided to increase the American dollar-dong exchange rate by one per cent and widen the trading band from two per cent to three per cent, Nghia said.
http://ift.tt/1i4J8pf
Walkingstick: » August 27th, 2015, 10:15 am
The issuance of a court decision to ban 334 Iraqi official to travel, including 20 Minister
27-08-2015 03:30 PM
Issued the Integrity Commission, the parliamentary and independent Integrity Commission in coordination with the judiciary decree banning travel 334 Iraqi officials.
A spokesman for the Parliamentary Integrity Committee MP Adel Nouri in a press statement, 'After consecutive meetings of the Integrity Commission and the Committee of the Parliamentary Integrity been issued orders to prevent 334 Iraqi officials from traveling, including 20 ministers and 314 remaining their own degrees, such as agents and ministers and managers two years '.
He MP Nuri' Another list of accused of corruption, but the investigation is not yet complete ', pointing out that' the coming days will witness the announcement of these names.
"The Integrity Court Iraq has recently sentenced to one year imprisonment for former Secretary of Baghdad Sabir al-Issawi, after the judiciary announced the names of 29 official accused of corruption and wanted to investigate the Integrity Commission.
See more at: http://ift.tt/1hhP3GL
**************
Zerb: Backdoc I would love your comments on this one...this is very telling has a lot of hidden information... This could spell absolute disaster for the US... Both China and Russia can cripple us...wink
Walkingstick » August 27th, 2015, 9:25 am
China Sells U.S. Treasuries to Support Yuan
August 27, 2015 — 2:55 AM EDT Updated on August 27, 2015 — 6:11 AM EDT
China has cut its holdings of U.S. Treasuries this month to raise dollars needed to support the yuan in the wake of a shock devaluation two weeks ago, according to people familiar with the matter.
Channels for such transactions include China selling directly, as well as through agents in Belgium and Switzerland, said one of the people, who declined to be identified as the information isn’t public. China has communicated with U.S. authorities about the sales, said another person. They didn’t reveal the size of the disposals.
The People’s Bank of China has been offloading dollars and buying yuan to support the exchange rate, a policy that’s contributed to a $315 billion drop in its foreign-exchange reserves over the last 12 months. The $3.65 trillion stockpile will fall by some $40 billion a month in the remainder of 2015 because of the intervention, according to the median estimate in a Bloomberg survey.
China selling Treasuries is “not a surprise, but possibly something which people haven’t fully priced in,” said Owen Callan, a Dublin-based fixed-income strategist at Cantor Fitzgerald LP. “It would change the outlook on Treasuries quite a bit if you started to price in a fairly large liquidation of their reserves over the next six months or so as they manage the yuan to whatever level they have in mind.”
Gross’s Tweet
The PBOC and the U.S. Embassy in Beijing didn’t immediately respond to requests for comment. Bill Gross, who manages the $1.47 billion Janus Global Unconstrained Bond Fund, tweeted Wednesday “China selling long Treasuries ????”.
Two-year Treasuries erased an earlier advance, with their yield little changed at 0.67 percent as of 11 a.m. in London. It fell as much as two basis points. The 10-year yield declined three basis points to 2.15 percent, near to its average for the past month.
Chinese sales of U.S. government debt may have kept yields from falling this month as a selloff in global stocks prompted investors to favor the safest assets.
“By selling Treasuries to defend the renminbi, they’re preventing Treasury yields from going lower despite the fact that we’ve seen a sharp drop in the stock market,” David Woo, head of global rates and currencies research at Bank of America Corp., said on Bloomberg Television on Wednesday. “China has a direct impact on global markets through U.S. rates.”
China Holdings
The latest available Treasury data and estimates by strategists suggest that China controls $1.48 trillion of U.S. government debt, according to data compiled by Bloomberg. That includes about $200 billion held through Belgium, which Nomura Holdings Inc. says is home to Chinese custodial accounts.
The PBOC has sold at least $106 billion of reserve assets in the last two weeks, including Treasuries, according to an estimate from Societe Generale SA. The figure was based on the bank’s calculation of how much liquidity will be added to China’s financial system through Tuesday’s reduction of interest rates and lenders’ reserve-requirement ratios. The assumption is that the central bank aims to replenish the funds it drained when it bought yuan to stabilize the currency.
The yuan rose 0.08 percent to 6.4053 per dollar on Thursday in Shanghai, trimming this month’s decline to 3.1 percent. Daily fluctuations have averaged less than 0.1 percent in the past two weeks as the PBOC intervened to bring stability following the Aug. 11 devaluation. The nation’s Treasury holdings will stop falling once the intervention stops and the currency is freely floating, said Steve Wang, chief China economist at Reorient Financial Markets Ltd. in Hong Kong.
“Strategically, it probably has been China’s intention to find the right time to lighten up its excessive accumulation of U.S. Treasuries,” he said.
http://ift.tt/1K6OooJ
The issuance of a court decision to ban 334 Iraqi official to travel, including 20 Minister
27-08-2015 03:30 PM
Issued the Integrity Commission, the parliamentary and independent Integrity Commission in coordination with the judiciary decree banning travel 334 Iraqi officials.
A spokesman for the Parliamentary Integrity Committee MP Adel Nouri in a press statement, 'After consecutive meetings of the Integrity Commission and the Committee of the Parliamentary Integrity been issued orders to prevent 334 Iraqi officials from traveling, including 20 ministers and 314 remaining their own degrees, such as agents and ministers and managers two years '.
He MP Nuri' Another list of accused of corruption, but the investigation is not yet complete ', pointing out that' the coming days will witness the announcement of these names.
"The Integrity Court Iraq has recently sentenced to one year imprisonment for former Secretary of Baghdad Sabir al-Issawi, after the judiciary announced the names of 29 official accused of corruption and wanted to investigate the Integrity Commission.
See more at: http://ift.tt/1hhP3GL
**************
Zerb: Backdoc I would love your comments on this one...this is very telling has a lot of hidden information... This could spell absolute disaster for the US... Both China and Russia can cripple us...wink
Walkingstick » August 27th, 2015, 9:25 am
China Sells U.S. Treasuries to Support Yuan
August 27, 2015 — 2:55 AM EDT Updated on August 27, 2015 — 6:11 AM EDT
China has cut its holdings of U.S. Treasuries this month to raise dollars needed to support the yuan in the wake of a shock devaluation two weeks ago, according to people familiar with the matter.
Channels for such transactions include China selling directly, as well as through agents in Belgium and Switzerland, said one of the people, who declined to be identified as the information isn’t public. China has communicated with U.S. authorities about the sales, said another person. They didn’t reveal the size of the disposals.
The People’s Bank of China has been offloading dollars and buying yuan to support the exchange rate, a policy that’s contributed to a $315 billion drop in its foreign-exchange reserves over the last 12 months. The $3.65 trillion stockpile will fall by some $40 billion a month in the remainder of 2015 because of the intervention, according to the median estimate in a Bloomberg survey.
China selling Treasuries is “not a surprise, but possibly something which people haven’t fully priced in,” said Owen Callan, a Dublin-based fixed-income strategist at Cantor Fitzgerald LP. “It would change the outlook on Treasuries quite a bit if you started to price in a fairly large liquidation of their reserves over the next six months or so as they manage the yuan to whatever level they have in mind.”
Gross’s Tweet
The PBOC and the U.S. Embassy in Beijing didn’t immediately respond to requests for comment. Bill Gross, who manages the $1.47 billion Janus Global Unconstrained Bond Fund, tweeted Wednesday “China selling long Treasuries ????”.
Two-year Treasuries erased an earlier advance, with their yield little changed at 0.67 percent as of 11 a.m. in London. It fell as much as two basis points. The 10-year yield declined three basis points to 2.15 percent, near to its average for the past month.
Chinese sales of U.S. government debt may have kept yields from falling this month as a selloff in global stocks prompted investors to favor the safest assets.
“By selling Treasuries to defend the renminbi, they’re preventing Treasury yields from going lower despite the fact that we’ve seen a sharp drop in the stock market,” David Woo, head of global rates and currencies research at Bank of America Corp., said on Bloomberg Television on Wednesday. “China has a direct impact on global markets through U.S. rates.”
China Holdings
The latest available Treasury data and estimates by strategists suggest that China controls $1.48 trillion of U.S. government debt, according to data compiled by Bloomberg. That includes about $200 billion held through Belgium, which Nomura Holdings Inc. says is home to Chinese custodial accounts.
The PBOC has sold at least $106 billion of reserve assets in the last two weeks, including Treasuries, according to an estimate from Societe Generale SA. The figure was based on the bank’s calculation of how much liquidity will be added to China’s financial system through Tuesday’s reduction of interest rates and lenders’ reserve-requirement ratios. The assumption is that the central bank aims to replenish the funds it drained when it bought yuan to stabilize the currency.
The yuan rose 0.08 percent to 6.4053 per dollar on Thursday in Shanghai, trimming this month’s decline to 3.1 percent. Daily fluctuations have averaged less than 0.1 percent in the past two weeks as the PBOC intervened to bring stability following the Aug. 11 devaluation. The nation’s Treasury holdings will stop falling once the intervention stops and the currency is freely floating, said Steve Wang, chief China economist at Reorient Financial Markets Ltd. in Hong Kong.
“Strategically, it probably has been China’s intention to find the right time to lighten up its excessive accumulation of U.S. Treasuries,” he said.
http://ift.tt/1K6OooJ
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