Imploding Yuan

The offshore Yuan continues moving violently. From 6,40 to 6,70 in two weeks is a massive move, especially as this is no small cap stock. Today is the  biggest move we have seen in several month.

Trade wars or not, US exports are some 7% more expensive now compared to March levels!

The FXI US (China ETF) continues plunging and is now down almost 15% since mid June.

The trend since February 2016 is somewhat lower but catching a falling knife seems premature.

Note the ugly crossing of the 100 day average through the 200 day average right here.