Foreign Exchange post-Brexit Vote The RMB has depreciated ~8% from ~6.2 to ~6.7 RMB/USD in one year, weakest since Oct 2010. The risk of a resumption of capital outflows driven by expectations of near-term RMB weakening is therefore rising. The official FX reserve figures of over $3.1 trillion overstate the amount of ammunition available to defend the RMB, as $1 trillion or more of these reserves may be encumbered through forward and ...
Consumer confidence in Australia took a hit in July, the latest survey from Westpac Bank and the Melbourne Institute revealed on Wednesday, sliding 3.0 percent to a reading of 99.1. more...
It was recently revealed that Prince played keyboard on the Mobb Deep track "Thou Shall Not Kill," according to TMZ. While on N.O.R.E. and DJ EFN's podcast, Havoc revealed the Purple One's presence on the song. He also shared a not so positive story of a car accident. "The most memorable session I ever had in the studio was when we was working . . ." more...
U.S. stocks staged yet another day of a stellar performance as S&P 500 hit an all-time high and Amazon toppled Berkshire Hathaway to become world’s fifth largest company by market value. more...
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