USDollar

Renminbi and crypto pose no major threat to dollar’s global dominance

Tuesday 22 March 2022 – Vol.13 Ed.12.2

Commentary: Russia sanctions, the renminbi and the dollar’s future

By Mark Sobel in Washington

The dollar’s global dominance remains well entrenched. Yet every ripple in international finance engenders a tedious new round of chatter – will the dollar lose its dominant status? With the imposition of severe financial sanctions on Russia, rumblings that China will provide Russia a lifeline and rumours Saudi Arabia will denominate oil prices in renminbi, markets...

https://allaboutshipping.co.uk/2022/03/22/renminbi-and-crypto-pose-no-major-threat-to-dollars-global-dominance/

How have divergent lockdown measures impacted the UK and Europe?

How have divergent lockdown measures impacted the UK and Europe?

Thursday 27 January 2022 – Vol.13 Ed.4.4

Commentary: Outlook 2022: US versus euro area performance

By Geoffrey Yu in London

On the face of things, the UK’s decision to avoid fully locking down the economy over the Christmas period appears to be paying dividends. In contrast, the euro area and wider European Union introduced restrictions relatively early, so markets are starting to price in greater underperformance on growth and policy...

https://allaboutshipping.co.uk/2022/01/27/how-have-divergent-lockdown-measures-impacted-the-uk-and-europe/

GLOBAL & REGIONAL DAILY (Wednesday 29 September 2021)

GLOBAL & REGIONAL DAILY (Wednesday 29 September 2021)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

September 29 2021

Global Markets

The ongoing rise in sovereign bond yields following last week’s hawkish tilt of many G10 CBs and renewed inflation concerns on the back of higher energy prices, triggered a major risk-off move in global equity markets. Meanwhile, elevated UST yields kept the USD well supported, with the EUR/USD continuing to trade steadily below 1.17.

Greece

On Covid-19, new cases yesterday...

https://allaboutshipping.co.uk/2021/09/29/global-regional-daily-wednesday-29-september-2021/

GLOBAL & REGIONAL DAILY (Monday, 30 August 2021)

GLOBAL & REGIONAL DAILY (Monday, 30 August 2021)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

August 30 2021

Global Markets

The tone Fed Chair Jerome Powell adopted in his speech at the Jackson Hole Symposium was perceived by market participants as more dovish than expected. In reaction, global equity markets and USTs firmed, while the USD lost some ground. 

Greece

A new bill to facilitate private and strategic investments was submitted for public consultation last week. On the pandemic front, the positivity...

https://allaboutshipping.co.uk/2021/08/30/global-regional-daily-monday-30-august-2021/

Central banks must work together to cope with dollar dominance

Central banks must work together to cope with dollar dominance

Thursday 26 August 2021 – Vol.12 Ed.34.4

Commentary: Central banks need new tools for dollar dominance

By Kathleen Tyson in London

When former Bank of England Governor Mark Carney spoke at the Jackson Hole Symposium in 2019, he made a surprising argument against the continued dollarisation of the global economy, labelling the situation a ‘destabilising asymmetry’. Central banks and other policy-makers need to work together for better...

https://allaboutshipping.co.uk/2021/08/26/central-banks-must-work-together-to-cope-with-dollar-dominance/

US monetary policy developments past, present and future

US monetary policy developments past, present and future

Monday 23 August 2021 – Vol.12 Ed.34.1

Commentary: Nixon shock was a welcome development

By Mark Sobel in Washington

Numerous commentaries in recent weeks have commemorated the 50th anniversary of the August 1971 Nixon shock, which brought the Bretton Woods system to its end. For Mark Sobel, US chairman of OMFIF, the Nixon shock was a historically welcome development. It set in motion a series of events that led to the onset of generalised...

https://allaboutshipping.co.uk/2021/08/23/us-monetary-policy-developments-past-present-and-future/

Renminbi’s rise, 50 years after the dollar-gold shock, IMF shifts approach to low income countries and special drawing rights, and more

Renminbi’s rise, 50 years after the dollar-gold shock, IMF shifts approach to low income countries and special drawing rights, and more

THE WEEKEND REVIEW  – OMFIF

Latest opinion and analysis from OMFIF around the world

9-13 August 2021, Vol.12 Ed.32

Most-Read Commentary

Renminbi’s rise, 50 years after the dollar-gold shock: President Richard Nixon, in his TV address on 15 August 1971, announced unilaterally that America was reneging on the gold-dollar link. The consequences remain with us today....

https://allaboutshipping.co.uk/2021/08/14/renminbis-rise-50-years-after-the-dollar-gold-shock-imf-shifts-approach-to-low-income-countries-and-special-drawing-rights-and-more/

How the Nixon shock set broad path for renminbi rise 50 years ago

How the Nixon shock set broad path for renminbi rise 50 years ago

Mao Zedong and Richard Nixon

Thursday 12 August 2021 – Vol.12 Ed.32.4

Commentary: Renminbi’s rise, 50 years after the dollar-gold shock

By Meghnad Desai and David Marsh

President Richard Nixon, in his TV address on 15 August 1971, announced unilaterally that America was reneging on the gold-dollar link. The consequences remain with us today. Nixon gave countries their monetary sovereignty. It was up to them how to use it – with...

https://allaboutshipping.co.uk/2021/08/12/how-the-nixon-shock-set-broad-path-for-renminbi-rise-50-years-ago/

Why the dollar’s global financial status is a net plus for the US

Why the dollar’s global financial status is a net plus for the US

Friday 2 July 2021 – Vol.12 Ed.26.5

Commentary: Dollar’s global role: extraordinary privilege or burden?

By Mark Sobel in Washington

Debates about the dollar’s global financial status are back in vogue and with them the notion that the US has and abuses an ‘exorbitant privilege’. The debates are overdone. Whether one believes the dollar’s role is a burden or privilege, policy-makers’ attention should focus on addressing undesirable...

https://allaboutshipping.co.uk/2021/07/02/why-the-dollars-global-financial-status-is-a-net-plus-for-the-us/

GLOBAL & REGIONAL DAILY (Wednesday 30 June, 2021)

GLOBAL & REGIONAL DAILY (Wednesday 30 June, 2021)

June 30  2021

Global Markets

Supported by strong consumer confidence readings for both the EA and the US, global equity markets were firmer earlier today. In FX markets, the USD retained a positive tone favored by its safe-haven appeal as concerns remain that the rapid spread of the delta variant could threaten the ongoing global recovery.

Greece

According to the latest EC business and consumer survey data, in June 2021 the Economic Sentiment...

https://allaboutshipping.co.uk/2021/06/30/global-regional-daily-wednesday-30-june-2021/

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