- Dwindling supply of US dollars in Argentina leads companies to embrace China's yuan for imports.
- China's yuan represents a short-term solution to keep assembly lines moving amid surging inflation and zigzagging policy.
- More than 500 Argentine companies have requested to pay for imports in yuan.
- Yuan transactions in Argentina's currency market doubled in the first 10 days of June.
- Whirlpool Corp. is considering paying with yuan to import parts for a new factory in Argentina.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec