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Plunge of Chinese Currency

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    #1

    Plunge of Chinese Currency

    June was the worst month ever for China's yuan plunging 3.3 percent . . . .

    This has a direct ramification for Cdn export markets into Asia (IMO).

    Keep your marketing skills sharp.
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    #2
    Some were expecting the yuan to replace the petro dollar. Still laughing at that one.

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      #3
      Originally posted by ajl View Post
      Some were expecting the yuan to replace the petro dollar. Still laughing at that one.
      Laugh your ass off the East is quickly building the alternative financial infrastructure to implement the bold plan of a gold backed currency. Hence the trade and currency attacks by the US. When Ghadaffi wanted to implement a gold backed currency they took him out. One day you might get it AJL.

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        #4
        Originally posted by errolanderson View Post
        June was the worst month ever for China's yuan plunging 3.3 percent . . . .

        This has a direct ramification for Cdn export markets into Asia (IMO).

        Keep your marketing skills sharp.
        Im assuming the plunge is compared to US dollar so from a Canadian trade situation does it really matter much? If their dollar is basically devalued against currency of all their trading partners but the need is still there? Different situation in my mind if the same amount of Yuan now buys more in one country than it does in another. (maybe that is the situation with Russia)

        Should be good for fighting their export issues though.

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          #5
          Brazil real = $3.89:$1 USD the more things change the more they stay the same. US stocks will be last to be emptied out. It's all about USD
          Last edited by macdon02; Jul 3, 2018, 08:59.

          Comment

            #6
            Originally posted by GDR View Post
            Im assuming the plunge is compared to US dollar so from a Canadian trade situation does it really matter much? If their dollar is basically devalued against currency of all their trading partners but the need is still there? Different situation in my mind if the same amount of Yuan now buys more in one country than it does in another. (maybe that is the situation with Russia)

            Should be good for fighting their export issues though.
            Loss of Chinese purchasing power is not a good sign for commodity prices. China will buy cheaper (IMO).

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