Despite common regional threads, each country has its own reasons for moves
As the world’s dollar funding shortage continues to unwind, EURUSD has re-collapsed to a 1.04 handle in the Asia session and dragged The USD Index above 100 for the first time since 2003. This is now the fastest surge in the USD since records began and EM FX is getting monkey-hammered. Swissy has almost retraced the entire post-SNB de-peg surge. USD strength has weakened JPY and thus miraculously lifted US equity futures (just as it did last night before the dead cat bounce collapsed to lower-lows).
EURUSD 1.04 (600 pips lower since payrolls)… and USD Index 100.00 (highest since 2003)
BoK lowers its its policy interest rate to 1.75% amid flagging growth and rising won
South Korea’s central bank cuts its key lending rate to a record low of 1.75% – its first cut in five months.
Since the end of the Sri Lankan civil war in 2009, Chinese investment in Sri Lanka has run into billions of dollars. But is that relationship cooling?
A Human Rights Watch report uncovers alleged abuses at Cambodian garment factories supplying Marks & Spencer, Gap, H&M, Adidas and Armani.
Chinese orders for New Zealand infant formula milk are being cut back because of threats to poison the product.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
The amount a state needs to expend on guard labour is a function of how much legitimacy the state holds in its population’s reckoning. A state whose population mainly views the system as fair needs to do less coercion to attain stability. People who believe that they are well-served by the status quo will not work to upset it. States whose populations view the system as illegitimate need to spend more on guard labour.
With crude prices reeling from the effects of geopolitical wrangling and surging production, it’s a tough time to be a resident of an oil boom town. Although drilling in areas like North Dakota’s Bakken oil patch has generated hefty revenues for once quiet communities, it’s also led to an increase in crime. As the Washington Post noted last year, “the arrival of highly paid oil workers living in sprawling ‘man camps’ with limited spending opportunities has led to a crime wave — including murders, aggravated assaults, rapes, human trafficking and robberies — fueled by a huge market for illegal drugs, primarily heroin and methamphetamine.”