China’s industrial profits sink on US Tariffs, deflation woes - Bloomberg
China's industrial firms saw their profits drop the most since October, illustrating weakness in an economy strained by higher US tariffs and lingering deflationary pressure. Industrial profits fell 9.1% last month from a year earlier, according to data released Friday by the National Bureau of Statistics.
U.S. Durable Goods Orders Soar Much More Than Expected In May - thanks to huger aircraft orders from the Middle East.
New orders for U.S. manufactured durable goods spiked by much more than expected in the month of May, according to a report released by the Commerce Department on Thursday. The report said durable goods orders soared by 16.4 percent in May after tumbling by a revised 6.6 percent in April. Economists had expected durable goods orders to surge by 8.5 percent compared to the 6.3 percent slump that had been reported for the previous month. Excluding a substantial increase in orders for transportation equipment, durable orders climbed by 0.5 percent in May after coming in unchanged in April. Ex-transportation orders were expected to come in flat. Here is the surge in aircraft (Boeing) orders following Trump's trip to the middle east Source: zerohedge @zerohedge, RTTNews
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The Hong Kong Monetary Authority said it used HK$9.4bn ($1.2bn) of its reserves to buy Hong Kong dollars on the open market.
It acted after the local currency dropped past HK$7.85 per US dollar, the weak end of the band within which it is allowed to trade. The move will drain liquidity from the banking system and pushed up interbank lending rates on Thursday, potentially threatening a carry trade that has allowed investors to borrow cheaply in the city’s currency before investing in higher-yielding US debt securities. Source: FT https://lnkd.in/evksjsp9
Emerging markets $EEM are breaking out to 3-year highs.
Source: Ross J Brown RJB Financial Direction Limited
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BREAKING: US Federal Housing Finance Agency orders Fannie Mae and Freddie Mac to count Bitcoin & crypto as an asset when assessing mortgage eligibility.
Source: Bitcoin Archive @BTC_Archive
The last two golden crosses on $QQQ did not disappoint...
What do we have in store this time around? Source: Trend Spider
