Big Rebound In CNY - But Not For Any Good Reason - While Demand Destruction Finally Arrives In The U.S.

By Jeffrey P. Snider of Eurodollar University

Chief Investment Strategist • Oct 27, 2022 at 8:23 PM EDT

The darkening outlines of global recession are being drawn much clearer using the ink of gross American demand destruction.

Image Source: Unsplash

After falling as low as 7.30 to the dollar yesterday, this morning "someone" was selling big dollars in Hong Kong (offshore CNH). It's another way of saying de-hoarding private dollar reserves, essentially the same tactic beleaguered officials have been forced into around the world. Why? For one, the darkening outlines of global recession are being drawn much clearer using the ink of gross American demand destruction.

Video Length: 00:20:34

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Disclosure:

This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. Investments involve risk and you can lose money. Past investing and economic performance is not indicative of future performance. Alhambra Investment Partners, LLC expressly disclaims all liability in respect to actions taken based on all of the information in this writing. If an investor does not understand the risks associated with certain securities, he/she should seek the advice of an independent adviser.

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