PetroYuan Futures Successfully Launched: Trades Over 40k Lots.
In this report I cover the successful launch of the yuan oil futures contract at the Shanghai International Energy Exchange. The PetroYuan futures traded over 40'000 lots or contracts on its first day. I have noted in the past how this new yuan denominated contract will pose a threat to the petrodollar's dominance since the middle 1970s.
I also cover the early market action from London on Monday, March 26th, 2018. I note that after a rough week for the stock market the Dow, S & P and Nasdaq futures are trading up over 1% prior to the U.S. regular hour trading session. I note that the markets should remain very volatile and that a lot could happen later on in the day.
"What March 26th, 2018 Will Mean to the Petrodollar": https://steemit.com/market/@maneco64/77asjnvv
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That`s interesting news
This is the beginning of the end of the US Dollar’s global domination.
Yes. It is an important date.
How it will effect the world @maneco64
I’ve put a link to a video in this report talking about your question.
The Petro-Yuan is an interesting one if you think about the dollar as being a backed currency rather than a fiat currency. It has been backed by oil in reality. Since QE and fall of the oil price in the past 10 years that backing has now been effectively destroyed. I think the petro-yuan is just the beginning, other asset backed national currencies will emerge.
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Very good report. We will see what happend next
Thanks for updating that what the happening.
Thank you for the update maneco64, should be a very interesting day, all the best.
Hello sir you have very interesting thoughts