China has to act on its currency or a conflict with the US will become inevitable, argues Director of the Peterson Institute for International Economics, Fred Bergsten.
The Dow was both up 125 and down 55 last night before closing flat as the buyers and sellers battled it out ahead of this week’s major events. Dow up 6.
Operating conditions for Chinese manufacturers improved markedly in October, report HSBC/Markit Economics.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
A glance through the latest expert views and predictions about commodities with Barclays seeing China as a driver of ag commodity markets, September trade data for China and forecasts for higher global steel output this year.
On current projections, the worlds’ poor countries will account for nearly 70% of global GDP in 2030. Now that’s a different world.
The G20 did not achieve anything in the way of a swift end to the Currency War at its meeting, but a surprise shift in IMF voting rights may prove the impetus.
This month’s round of Chinese economic data and the third quarter GDP result came in much as expected.
Wall Street reversed its earlier reaction to the Chinese rate hike last night and savoured several strong earnings reports. Dow up 129.