The dollar's soaring with the Yuan, falling w/ the euro, and as far as U.S. trade rates in general go this is been happening too fast for the bean counters to be able to say. Meanwhile we got a Fed-hike-no-matter-what coming next month to really speed things up...
The Fed aren’t going to hike rates in any meaningful sense, though they may opt for a notional 25 basis point hike as a one-time thing.
Instead there will be another QE.
To paraphrase Peter Schiff: we are going to have as many QEs as Rocky movies, and (just like the Rocky movies) each one will be worse than the last.
This Is Not A Drill: India, Russia And Thailand Prepare For Currency War
When China sneezes, the world catches a cold. Alternatively, when China devalues, the rest of the (exporting) world scrambles to not be the last (exporting) nation standing, and to do so next, before everyone else does. We give Russia, Thailand and India (as well as the rest of the EM countries, actually make that all countries, the US included) at least a few days (hours may suffice) before they all realize that in a beggar-thy-neighbor global currency war, where the ZIRP (or NIRP) liquidity trap is already stalking at least half of the entire world, there really is no choice. http://www.zerohedge.com/news/2015-08-11/not-drill-india-russia-and-thailand-prepare-currency-war
Neat --lot's of exciting adventure today for the whole family! After yesterday's percent-plus stock index plunge in rising volume's added another distribution day (S&P count now to 8) while metals claw back up to the high end of their new ranges. Reports:
7:00 AM MBA Mortgage Index
10:00 AM JOLTS - Job Openings
10:30 AM Crude Inventories
2:00 PM Treasury Budget
Curiouser and curiouser headlines: