China fixes whilst Trump fiddles
Friday 9th August 2019 Are the markets more concerned about the relative strength of the Chinese currency than they are about tariffs? That’s a question Phil Dobbie puts to NAB’s Tapas Strickland, as currency controls by the PBoC have helped quell concerns, boosting US equities. President Trump, meanwhile, continues to argue against the Fed for refusing to lower rates as fast as he would like. Meanwhile Saudi Arabia has stepped in to try and limit the damage from falling oil prices, Italy looks like it is heading to an election and the UK could be moving towards a constitutional crisis. A confusing end to a hectic week.