Globally central banks are increasingly diversifying their foreign exchange reserves away from the U.S. dollar and the euro, according to latest data from the IMF’s Currency Composition of Foreign Exchange Reserves (COFER), and forex analysts tell CNBC the Australian dollar could be among the main beneficiaries.
"The WTO dispute settlement system has been created to avoid trade wars (and) since its inception, in 1995, there has been no trade war," Pascal Lamy, director general of the World Trade Organization, told CNBC. "I am not sure (the Chinese financial system) is solid to the point of opening in one day or in one night its foreign account," he also said.
Francis Lun, Managing Director, Lyncean Holdings, is bearish on the Chinese economy and says the trade data shows a continued shrinking of the manufacturing sector. However, Dariusz Kowalczyk, Chief Investment Strategist, Credit Agricole, thinks China's growth is still strong, supported by rising domestic demand.
The Federal Reserve won't change course on quantitative easing this week, Steve Weiss of Short Hills Capital says.
Tuesday, 18 Jun 2013 | 7:10 AM ETAn airline passenger records a Chinese cargo handler as he tosses boxes of something on to and off of a conveyor belt for shipment. Hopefully, the cargo was packed well.
Tuesday, 18 Jun 2013 | 9:33 AM ETPlans to take PC maker Dell private by leveraging the company's balance sheet are misguided, CNBC's Jim Cramer said on "Squawk on the Street" Tuesday, because the company is facing lower margins and an increased competition from rival Hewlett Packard.