emfizz.com
emfizz.com June 23, 2017


Asian equities evade manipulator tag; remain wary of possible trade friction

20 April 2017, 09:36 | Jan Cross

Senator Mitch McConnell Wants America to Cut Trump a Break Because He's Just 'Learning the Job'

Trump's economic adviser Gary Cohn and adviser Jared Kushner listen to President Trump at a meeting with business leaders Jan. 23

In other words, before completion of the first term China will be on the hook of Trump.

The United States designed none of its major trading partners as a currency manipulator Friday, but put six countries, including China, Japan and South Korea, on its "monitoring list" for closer watch on their currency practices.

That said, China remained on a "Monitoring List" of major trading partners that merit close attention to their currency practices.

Trump declared on Wednesday that he would back away from a campaign promise to name China a currency manipulator, a move that would have created friction between the world's largest economies as they try to boost trade cooperation and address North Korea's nuclear threat.

"China and Germany have been included in the list of the countries, whose currency manipulations will be observed by analysts of the TreasuryDepartment", they said.

"Expanding trade in a way that is freer and fairer for all Americans requires that other economies avoid unfair currency practices, and we will continue to monitor this carefully", The Hill quoted Treasury Secretary Steven Mnuchin as saying in a statement.

The Korea International Trade Association welcomed the USA decision not to label South Korea a currency manipulator, calling it a "rational outcome". Such tariffs, though, could be overturned in a review by the World Trade Organization.

Tax Day Protests Demand Trump Release His Taxes
Every president and presidential nominee for the past 40 years has made their tax returns public, except for President Trump. To date, Trump hasn't publicly released any of his tax returns, even though he said in 2014 that he would.


Basketball: Bulls beat Celtics again, Raptors rebound in NBA playoffs
While his 33 points might not have been enough to carry the Boston Celtics to a win, there is no need to panic, it's only Game 1 . Lowry scored 12 points in the second but Milwaukee scored the final five points of the half to keep it close.


Stocks Worth Chasing- ENSCO PLC (NYSE:ESV), Tenet Healthcare Corp (NYSE:THC)
The average is taken over a specific period of time, like 10 days, 20 minutes, 30 weeks, or any time period the trader chooses. After trading began at $40.51, the stock was seen striking at $40.76 as its peak price and $40.25 as its lowest price.


South Korea met only two out of three criteria to become a currency manipulator - trade surplus, current account surplus and market intervention.

Beijing has not intervened in markets to weaken the value of its currency - the third criteria - and in fact has tried to keep the renminbi from falling further amid the country's relatively sluggish growth rate. Its surplus with the United States totaled $65 billion previous year.

"I think the United States chose to forego (labeling China a currency manipulator) this time because it wants China's cooperation on North Korea", said Takeshi Minami, chief economist at Norinchukin Research Institute in Tokyo.

Trump, in a Wall Street Journal interview, said China had not manipulated the yuan for months, while accusing nations that he didn't identify of devaluing their currencies and saying the United States dollar is getting too strong.

"The basic message is that Japan needs to expand its domestic demand and one can read this as them telling Japan to import more American goods", said Minami of the Norinchukin Research Institute. He has retreated from that position after meeting with Chinese President Xi Jinping in Florida last weekend. The dollar's strength in the past two years has been a drag on US exports. The reversal by the Treasury department was one of the nearly half-a-dozen instances when Donald Trump or his administration have gone back on his poll campaign promises.

"The United States can not and will not bear the burden of an worldwide trading system that unfairly disadvantages our exports and unfairly advantages the exports of our trading partners through artificially distorted exchange rates", it said.



Other News

Trending Now

Bill Bashes Fox News & 'Unfounded Claims' After Getting Fired
By that time , the news had already generated considerable coverage on Fox's primary cable news competitors, CNN and MSNBC. Bill O'Reilly has blamed his sacking from Fox News on "completely unfounded claims" that have been levelled against him.

Diego Simeone full of hope for Atletico Madrid in UEFA Champions League
The goal helped Atletico to take one away goal advantage as they already have one goal in the home match in their kitty. The players can be immensely proud of their performance, but we're ultimately disappointed to go out.

There's still investment in tech in London - despite the spectre of Brexit
This, he added, signified "that London remains open to investment, talent and innovation from all over the world". Fintech has attracted the most cash over the last five years, followed by mobile, software and e-commerce.

Acacia Mining Q1 gold sales stall on Tanzanian export ban
Acacia declared a first provisional corporate tax payment of $8.7m the quarter due to the strong North Mara performance. The 50 day moving average of Acacia Mining Plc (LON:ACA) is 469.66 whilst its 200 day moving average is 449.73.

Japan sees new era of cooperation with US : minister
But the vice president said he was encouraged and believed North Korea was listening to the Trump administration's concerns. Pence's first engagement in Indonesia was morning tea with Jokowi at the presidential palace.

Troubled Adrien Broner arrested...again
According to police, Broner told them someone shot at the vehicle after following him from a bar in Cincinnati. Cops say they did find evidence of a shooting at the alleged crime scene including several shell casings.

Quarterly Financial Review of CytRx Corporation (NASDAQ:CYTR)
CytRx Corporation (CYTR ) stock price escalated 18.18% to finalize at $0.52 throughout previous buying and selling session. Inside the closing six months period the stock's performance raised 8.33% while overall yearly performance lost -83.70%.

Ranking the 10 biggest NFL Draft deals of the last 25 years
What about the spot opposite of Haden? The Browns like Jamar Taylor , but he's probably better suited for the slot. We think no matter how prepared you are, there is always a lot of uncertainty in the draft.

Interest-Rate Increases on China Capital Flows Has Reduced -Regulator
In the January-March period, banks' net forex sales stood at 40.9 billion USA dollars, down 67 percent from a year ago. The move is expected to help boost liquidity in offshore yuan markets, especially Hong Kong.

Authorities: Man killed by deputy disarmed another officer
Highway 61 and Interstate 694 in Vadnais Heights Sunday night when they located an RV and vehicle parked on Fanum Road. Two deputies used their stun guns after a struggle started with the driver, identified as 47-year-old Darren Jahnke.