Thursday, 20 August 2015

Top Tweets-20/08/2015

With China's sudden devaluation of the yuan last week, other emerging market currencies having been taking strain as traders anticipate a weaker economy from those regions due to the commodities slump and overall stronger dollar. The latest victim is Kazakhstan who announced today it will no longer keep its currency, the tenge, pegged but instead opted for a free-float mechanism.


It was bound to happen sometime or another, the Rand finally hit R13 to the US dollar to hit the lowest value in 14 years. The currency have received much the same treatment as its peers has over the last week following the Chinese Yuan devaluation. The country now finds itself in a predicament where it needs to decide which policy requires top priority. Increase rates to protect the Rand but kill the economy or allow the Rand to depreciated further and save the economy...decisions decisions.



Great statistical analysis by Ryan Detrick on the monthly return of the S&P 500. If the stats are anything to go by it looks like August could be a gloomy month. Time for a holiday?

Word out on the street that the Greek Prime Minister, Alexis Tsipras is close to calling an early election as infighting within his party has broken down support for him in parliament. Not only has Mr Tsipras thrown Greek citizens into disarray with a disastrous handling of bailout agreements, he has also destroy the trust between Greece and Eurozone nations. Can they be saved ?  

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