China’s factory orders fell for the second month in a row, with the Caixin/Markit Purchasing Managers Index (PMI) indicating further contraction in the country’s manufacturing activity in January.
Over the last few months, market experts have been sounding the death knell for the United States’ dominance in world trade and the effectiveness of the dollar as the reserve currency, which has historically enjoyed strong investor confidence.
US tariffs are starting to take a toll on the Chinese economy, with the September manufacturing PMI stalling at 50.0 after expanding for 15 months in a row
China’s economy expanded at an annualised rate of 6.7 percent in the second quarter of this year, in line with broad market consensus. Compared to the first three months of the year, GDP (gross domestic product)
The seasonally adjusted US Producer Price Index (PPI) advanced 0.3 percent in June after registering a 0.5-percent rise the previous month, according to information published by the US Bureau of Labor Statistics.
The looming trade war between the United States and China, the world’s two largest economies, just turned official with the US imposing 25-percent duties on $34 billion worth of Chinese goods from Friday, July 6.
WTI (West Texas Intermediate) crude-oil futures slipped after failing to breach the more than four-year highs of $66.66 per barrel set in January of this year.
It’s been the year of the bitcoin bloodbath, as crypto-carnage reached new highs with bitcoins and the other well-known names in digital-currency markets extending a freefall. Likewise, Ethereum, Litecoin, Bitcoin Cash and Ripple followed a similar pattern in February of this year.
Japan has traditionally had an affinity towards an eased monetary policy. The Bank of Japan (BoJ) has over the last decade or so stuck to lower interest rates and on-and-off bond-buying, even while fighting to push the inflation level to 2 percent.
Political tensions between Saudi Arabia and Qatar could be due to a Qatar agreement to sell its natural gas to China—not in US dollars but in the Chinese currency renminbi.