At the beginning of this year, the People’s Bank of China (PBoC) engineered a decline in the renminbi, with the currency experiencing its biggest monthly drop on record against the U.S. dollar in March. The move was designed to dispel the belief that the yuan was a one-way bet and to ease pressure on China’s export sector.
U.S. stocks fell, after benchmark indexes closed at records yesterday, as investors scrutinized comments by European Central Bank President Mario Draghi before tomorrow’s monthly report on the American labor market.
One day after Saudi Arabia declared "war" on U.S. crude oil producers by lowering prices in an attempt to dump cheap crude in the United States market, the White House and private oil companies responded.
Gold and silver are feeling the pressure of the combined drag of deflationary fears in the Eurozone, a slowing Asia and a stronger U.S. dollar. Gold finished the month of October down 3.3% and Silver down 5.6%.
The famous "war cry, it’s the economy stupid", is re-emerging during this mid-term election process. On the one hand "positive news" like an unemployment rate of 5.9%, ...On the other hand more people have removed themselves from the employment rolls.