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..There's a little Samuel Pepys in all of us..

Tuesday, February 13, 2007

Just a brief note here..
Figures show that China's Trade Surplus has risen by 67%, due in part, to the low value of the yuan..
Considering the amount of oil that country's importing from Russia, that figure is absolutely amazing, and puts some great pressure on Western producers, and Western markets.
This may prompt a move from the EU to support the US, as there is general agreement that the Chinese currency is vastly undervalued, and is now beginning to affect the American dollar, and the price of gold..
Good for Canada, and South Africa, but it's a trend that could lead to a complete re-evaluation of what the world sees as the 'standard currency', which at present, is the American greenback.
We'll see what effects this has on the markets come Monday morning.
Watch this space.

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