WTI futures curve moved further in contango, now joined by another major milestone for the dollar bull-ying its way across Asia. China's yuan has slumped substantially, today falling well below 7 to the dollar. CNY wasn't the only one caught up in the goring, though. The dollar bull's "sudden" return is a particularly bad omen especially now.

Eurodollar University's Money & Macro Analysis

Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
https://www.federalreserve.gov/BOARDDOCS/Speeches/2002/20021121/default.htm

Bloomberg: Yuan Slides Past Seven in New Warning Sign for China’s Economy
https://www.bloomberg.com/news/articles/2023-05-17/yuan-weakens-toward-key-psychological-level-amid-data-misses

Reuters: Indian central bank likely sold dollars to limit rupee's decline, traders say
https://www.reuters.com/markets/currencies/indian-cenbank-likely-sold-dollars-limit-rupees-decline-traders-2023-05-18/

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DISCLOSURES
Jeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter's activity. The Promoter will not be receiving a portion of any advisory fees. The Promoter has an incentive to recommend the Adviser because the Promoter is being compensated. The opinions expressed on this site and in these videos are those solely of Jeffrey Snider and Eurodollar University and do not represent those of AFA.

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