Jump to content
House Price Crash Forum
Sign in to follow this  

Oil Hits $70 A Barrel

Recommended Posts

Yep, $70 dollars in Singapore futures.

It looks like we could be paying $70 a barrel in London quite soon.

New York light crude $67.40, an all time high.

This is the least thing the housing market needs right now.

More inflation.

Edited by BandWagon

Share this post

Link to post
Share on other sites
Guest Riser

Looks like China have decided to let their currency the Yuan free float rather than introduce it in steps after un-pegging it from the dollar last month. It will now beup to the central banks to keep the Yaun under control in the open market.

With the EU placing trade restrictions and Fuel shortages in China I suspect we may see the value of the Yuan start to increase and start to replace the dollar. So who will want to buy that massive US debt in dollars now ?

China says market to decide yuan's value

Thursday August 25, 12:51 AM EDT

SHANGHAI (Reuters) - China reaffirmed on Thursday it will let the market decide the yuan's value and not act to appreciate it further, downplaying chances for another currency move similar to last month's landmark revaluation.

Economists had foreseen the yuan appreciating gradually over coming months, as U.S. manufacturers complain it remains undervalued despite its 2.1-percent revaluation on July 21.

The central bank, however, has signaled it would not tolerate sharp gains in the currency.

"This will be decided by the market. The government will not decide the yuan's level," central bank vice governor Wu Xiaoling told Reuters in an interview, reiterating earlier comments published in newspapers.

"All policies will be kept stable" in the second half, said Wu, referring to economic and monetary policies, as she was leaving a financial forum in Shanghai, China's commercial stronghold.

Beijing scrapped the yuan's decade-old peg to the U.S. dollar on July 21, roiling global stock and currency markets.

Now, some economists think currency speculators may bet on a bigger appreciation in the yuan, especially with Chinese President Hu Jintao preparing to meet President Bush in September...................

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.