Chinese PPI (Producer Price Index) grew at only 3.3% indicating a cooling in the Asian economy.
Chinese property developer Kaisa Group Holdings has defaulted on $52 Million dollars in U.S. Dollar denominated debt and indicated that they may not be able to pay on additional debt.
A singular default would not normally be newsworthy – except that NO Chinese company has EVER defaulted on a U.S.D. denominated loan.
Friday morning we see if the U.S. economy is continuing to create jobs or takes a step back.
If the jobs number comes in above 250,000, the dollar surge will continue as more investors flee Asian, European and new economy currencies for the security of the U.S. Dollar.
If the BLS numbers come in less than a quarter million, expect the dollar surge to slow as investors will cease to see the United States as a safe haven in a global slowdown.