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Thursday, May 17, 2018

KTFA UPDATED, 17 MAY

KTFA:

Don961:  Hong Kong continues to intervene in the exchange market to save the currency
 

17 May 2018 02:38 PM

Direct: Hong Kong intervened to defend its currency for a second day after falling to the lowest level of trading allowed.

Hong Kong authorities on Wednesday bought 9.5 billion HK dollars ($ 1.2 billion) of their local currency, according to Bloomberg.

The move was the third-largest intervention in Hong Kong's exchange market since the country's currency was launched last month.

April saw the first intervention by the central bank in Hong Kong to save the currency since 2005.

Low interest rates compared with their levels in the US have opened investors' appetite for betting against the Hong Kong dollar.

In 2005, Hong Kong set the trading range to 7.75 to 7.85 HK dollars.

The central bank in Hong Kong spent $ 7.95 billion to protect its domestic currency system, leading to increased liquidity amid reliance on very low borrowing costs.

By 10:51 am GMT, Hong Kong's currency settled against its US counterpart at 7.8498 HK dollars.   link

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Don961:  Report: EUR may retreat to $ 1.10

 17 May 2018 10:01 PM

Standard Bank said that the euro's weakest level this year may be "just the beginning," as Italian bond yields rose due to political tensions.

"The political instability in Italy is now increasing the economic momentum slowing down the euro in the downward trend," Steve Barrow, head of the bank's foreign exchange strategy, told Bloomberg on Thursday, adding that the currency could fall to $ 1.10 from The current level of $ 1.18.

Barro said the bank's previous expectations of a European currency moving to a range of $ 1.15 to $ 1.20 seem to be likely to fall between $ 1.10 and $ 1.15, pointing out that the fall in the value of the euro has not yet ended.

By 5:40 pm GMT, the euro was down 0.1 percent at $ 1.1796.

Italy's bond yields rose to a four-month high as a result of concern over a possible coalition government coalition call for policies that could increase government debt.   link

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Don961:  Indonesia raises interest rate for first time in 4 years

17 May 2018 05:32 PM

The Central Bank of Indonesia has decided to raise the interest rate for the first time since 2014 in a pre-emptive step to protect against the flight of foreign capital.

The Central Bank of Indonesia (CBE) monetary policy statement showed Thursday that the bank had decided to raise the benchmark interest rate by 7 basis points by 25 basis points to 4.50 percent.

The move comes after Indonesia's interest rate cut by 200 basis points between 2015 and 2017.

Emerging markets are seeing notable concerns in the recent period of accelerated rate hikes in the US, causing the currencies of developing economies to fall.

By 1:59 pm GMT, the Indonesian rupiah rose 0.3 percent against the US dollar, sending the greenback down to 14058 rupees.  link
TIME TO SELL? World Bank, Peace Dollars, silver Eagles, Bartering etc. Q&A with Lynette Zang   https://youtu.be/q-J3YQ7QFWg?t=1

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