- The surprise US$6.1 billion increase in foreign exchange reserves to US$3.101 trillion came as Beijing also boosted its gold reserves by 1.88 per cent to US$79.8 billion
- Speculation that China could use massive reserves, mostly US dollar-denominated assets, to counter trade war moves by US President Donald Trump
The US State Department on Tuesday called on Turkish authorities to cease immediately any “unlawful activities” in Cyprus’ territorial sea and remove its drillship, Yavuz. Source Ekathimerini
Taiwan’s export orders may have fallen 5.9% year on year in July, according to a survey, widening from June’s 4.5% decline. Source: Reuters
The Bundesbank has warned that a slump in the German economy could have continued over the summer. It cited the US-China trade war as one factor weighing on German exports. Source Deutsche Welle
