On August 5, 2019, the People’s Bank of China set the yuan’s daily reference rate below 7 per dollar for the first time in over a decade. This, in response to new tariffs of 10% on $300 billion worth of Chinese imports imposed by the Trump administration, set to go into effect September 1st, 2019.… read the full article
Paris (AFP) – Chinese officials are threatening to stop all police cooperation with France after it gave political asylum to the wife of the former Interpol chief, a Chinese national now languishing in prison on charges of bribery, a French source close to the matter said Monday.… read the full article
The Philippines has sent scores of former communist rebels on an all-expenses paid foreign shopping trip, in an attempt to end one of Asia’s longest-running insurgencies, the military said Monday.… read the full article
Gold and Silver are trading positive on Monday as investors are digesting news from China and its decision for new retaliation after the U.S. decision on more tariffs. Also, concerns on global growth are fueling risk aversion, lifting gold to highs since May 2013.… read the full article
U.S. equity futures fell sharply Monday, while stocks in Asia suffered the biggest single-day decline in nine months, as Beijing hit back at President Donald Trump’s move to accelerate tariffs on China-made goods by allowing the yuan to slip to the lowest levels against the dollar in more than a decade.