Cash flows for emerging market stocks turned negative in the last week of February, according to the Institute for International Finance. Cash flows for emerging market debt turned negative last week. The data show daily outflows of $290 million in the last week. That compares to daily inflows of about $325 million in February.
The U.S. dollar fell today after President-elect Donald Trump told the Wall Street Journal that the U.S. currency was too high–in part because China holds down the price of the yuan. On the comments the Bloomberg Dollar Spot Index was down 1.1% as of noon New York time.
In an interview with the London Times and Germany’s Bild President-elect Donald Trump managed to dismiss the European Union as a tool for expanding German exports and to label NATO as obsolete. Shares of German automakers and British pound are hit
In overnight trading in Asia the pound fell against the dollar, dropping below $1.20 for the first time since October’s flash crash. The immediate cause was a report in the Sunday Times that in a speech scheduled for Tuesday U.K. Prime Minister Theresa May will say that the United Kingdom is prepared to headed for a Hard Brexit
Thanks to the 6.5% drop in the yuan against the dollar in 2016 and the 6% decline in the yuan against a benchmark basket of currencies, China’s dollar denominated exports fell 6.1% in December.