Turkish Lira Collapse

[errolanderson]

Here we go again . . . Turkish lira selloff once again. Emerging market chaos apt to create some market excitement in September.

[furrowtickler]

[Klause]

Argentina's total foreign debt is less than 1/3rd of Canada's...


And Switzerland is starting a trade war with Europe (or the other way around, depending on which side you talk to).

This isn't looking good.

How long before there's a flight from the CAD, especially after the pipeline announcement today?


Hard drop in currency combined with trade issues could kick of a round of inflation and high interest.


Might be good for us as producers, at the expense of the rest of the economy? Errol, thoughts?

[macdon02]

Here we go again . . . Turkish lira selloff once again. Emerging market chaos apt to create some market excitement in September.

Rumor is they are defaulting on debt, to stick it to the west. Good thing we are still in nato with them..... watching for contagion in EM if it happens..

[macdon02]

Argentina's total foreign debt is less than 1/3rd of Canada's...


And Switzerland is starting a trade war with Europe (or the other way around, depending on which side you talk to).

This isn't looking good.

How long before there's a flight from the CAD, especially after the pipeline announcement today?


Hard drop in currency combined with trade issues could kick of a round of inflation and high interest.


Might be good for us as producers, at the expense of the rest of the economy? Errol, thoughts?

CAD is riding the coat tails of USD. It hasn't taken the gas yet. Look at chi wheat chart, klause, it's talking to us. That's the story for '19. We only get a genuine wheat rally once a decade or 2 where it's leading. Watch what turns up first in daily and weekly timeframes(wheat). Look at monthly chart. Consecutive higher lows. If we end a month over$6, $6.03 to be precise, front month, the previous "roof", it will take out the all time high. Welcome to ratcheting. $6 becomes the floor and the top is yet to be determined but look at the next number after $13 on a Fibonacci scale

[furrowtickler]

CAD is riding the coat tails of USD. It hasn't taken the gas yet. Look at chi wheat chart, klause, it's talking to us. That's the story for '19. We only get a genuine wheat rally once a decade or 2 where it's leading. Watch what turns up first in daily and weekly timeframes(wheat). Look at monthly chart. Consecutive higher lows. If we end a month over$6, $6.03 to be precise, front month, the previous "roof", it will take out the all time high. Welcome to ratcheting. $6 becomes the floor and the top is yet to be determined but look at the next number after $13 on a Fibonacci scale

I like the Fibonacci scale lol.
But agree , patience, patience, patience.
Had to to tell an Ag supplier to politely *** off for a while yet for next year today.
Told them the same thing , patience, patience, patience... lol

[furrowtickler]

But most Ag suppliers don’t have a clue unfortunately, they actually believe that a crop in the field is money in the bank .. well ...


Most don’t have a clue , sadly

[errolanderson]

Emerging market wildfire appears spreading rapidly with Italian debt fallout in the cross-hairs this weekend.

This could spread onto G-7 soil quickly . . . now stir-in $267 billion in-coming Trump tariffs to China.

Sept markets may become memorable . . . .