Fading dollar lifts emerging assets, China's yuan shines

The Chinese yuan is rising at a rate of 6.5 per dollar as the United States deals with a hike of the debt ceiling and receding prospects of Fed rate hikes. With President Trump and Democrat congressional leaders making a deal, confidence and optimism led to the development.

"With the annual U.S. debt ceiling jamboree ending in a temporary three months Trump-Democrat agreement and all waiting to see where (North Korean leader) Kim, shoots his next missile, markets are taking a breather," Simon Quijano-Evans, strategist at Legal & General Investment Management wrote.


The yuan, however, persevered and rallied through the 6.5 per dollar for the first time since May 2016. The yuan has strengthened nearly 7 percent since January. 

Read more from Reuters.

Brazil stocks up on government asset-sale plan

Brazillian stocks rose with a massive sale of state assets on Thursday. It is believed this is a government-run attempt to rein in public debt growth and cut a widening budget gap. However, with President Michel Temer seeking to reduce state involvement in the economy, it becomes a question of who will win out. 

Brazil's benchmark Bovespa stock index rose 1 percent to a new-six year high with shares of Eletrobras, the power utility, as one of the biggest gainers. Optimism infiltrated wallets as a decision by the lower house of Congress to approve the main text of a bill creating a new market-based lending benchmark for state development bank BNDES that would considerably reduce discretionary subsidies.

"Coupled with well-behaved inflation, this sets the stage for the central bank to cut interest rates even more," analysts at the Magliano brokerage wrote in a client note.

Read more at Reuters.

How Emerging Markets And Blockchain Can Bring An End To Poverty

Can blockchain and cryptocurrencies become the technology that truly levels the playing field for humanity and help continue the reduction of poverty? Yes. 

Financial inclusion is considered a key factor to poverty reduction. It gives people access to a formal financial system.  With over 2 million unbanked, mobile options can provide a more convenient choice. 

 Blockchain startup Everex, which launched its ICO recently and already raised over 6 million USD (Roughly 27,000 Ethereum), considers financial inclusion as part of its mission.

“The lesson learned from the previous decade, however, is that the real needs of the world’s unbanked population comprise inclusion, empowerment and easy access to the same financial instruments that allow industrial nations to provide their denizens with the social mobility they enjoy,” a recent Everex blog post said.

Read more at Forbes.