Authored by Mike Shedlock via MishTalk.com,
In his latest Email article, Steen Jakobsen, Saxo Bank Chief economist and CIO has a bold prediction about interest rates.
With nearly everyone, even Janet Yellen at the Fed, predicting wage-induced inflation, Jakobsen makes a bold call in the opposite direction.
This is a guest post by Steen Jakobsen
Steen’s Chronicle: All Great Things are Simple, Except Right Now
European stocks dropped, Asian and EM market rose, and S&P were lower by 0.3% as investors assessed the latest overnight carnage in the USD which plunged to the lowest level since the start of 2015, sending the USDJPY tumbling to 107, the euro extending gains to just shy of $1.21 and a slowdown in China’s export growth which however did not prevent the Yuan from posting its best weekly gain on record.
Authored by Soeren Kern via The Gatestone Institute,
Few anticipated that the UK would vote to leave the UK. Even fewer expected that President Donald Trump would defeat Hillary Clinton in November’s US presidential election.
So unsurprisingly, members of the internationalist class of workers who populate urban centers like New York City and London – and who have the most to lose from nationalist economic and immigration policies - now perceive the US and Britain as less friendly to foreigners, not to mention less politically stable, according to a survey of 13,000 expatriates of 166 nationalities that was cited by Bloomberg.
Having plunged by the most in 6 months during the US day session, the dollar is continuing to get pounded across AsiaPac with Hong Kong Dollar and Yuan surging. Gold is extending gains, breaking above the spike highs from election night...
The Dollar Index is in free fall...This is the 7th straight down day for the USD Index...
There is not much support below here...
Driven by widespread selling across Asia... The last 3 days have seen the biggest collapse in the dollar since the start of January.