Trading bro from a big desk just sent this to me......FWIW
Rumors are very strong that Treasury WILL issue its
currency report at 1PM today. Obviously, if that’s true,
China will be named as a “manipulator”.
We have been hearing rumors of this for the past three days,
but it’s been impossible to believe.
However, three separate sources told us it would happen
today. The Chinese are braced for this and the US will make
it clear that there is nothing immediately actionable about this
move, except that it triggers investigations, etc.
We have been very hesitant to write this because it seems to
make no sense given the pre-G20 negotiations, but very trusted
official sources say it’s true.
Chinese trade officials have asked that if they are named
other countries be named as well, but given the dollar weakness
it’s hard to figure out who they might be.
US Senate will take up the 'manipulation bill' (that the House
passed before recess) during the 'lame duck' session. expect the
administration to want it to pass. reminiscence of Smoot
Hartley.
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Rumor on currency report at 1pm
Posted by PA on 15th of Oct 2010 at 12:27 pm
Trading bro from a big desk just sent this to me......FWIW
Rumors are very strong that Treasury WILL issue its currency report at 1PM today. Obviously, if that’s true, China will be named as a “manipulator”.
We have been hearing rumors of this for the past three days, but it’s been impossible to believe.
However, three separate sources told us it would happen today. The Chinese are braced for this and the US will make it clear that there is nothing immediately actionable about this move, except that it triggers investigations, etc.
We have been very hesitant to write this because it seems to make no sense given the pre-G20 negotiations, but very trusted official sources say it’s true.
Chinese trade officials have asked that if they are named other countries be named as well, but given the dollar weakness it’s hard to figure out who they might be.
Seems report is being delayed for novemeber
Posted by dpack on 15th of Oct 2010 at 12:45 pm
Seems report is being delayed for novemeber
Currency Report
Posted by stockman14 on 15th of Oct 2010 at 12:51 pm
http://www.zerohedge.com/article/china-currency-manipulation-report-delayed-until-after-g20-meeting-november?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
That's like the pot calling
Posted by steever on 15th of Oct 2010 at 12:43 pm
That's like the pot calling the kettle black. And what, the US doesn't manipulate their currency? give me a break.
US Senate will take up
Posted by hazbin1 on 15th of Oct 2010 at 12:30 pm
US Senate will take up the 'manipulation bill' (that the House passed before recess) during the 'lame duck' session. expect the administration to want it to pass. reminiscence of Smoot Hartley.