Turkey’s economic crisis is turning into an Emerging Market Epidemic (1) with some currencies trading at near-record lows against the US dollar (2).
The Indian Rupee has suffered an unprecedented fall (3) leading to concerns that the economic troubles could have a political impact (4).
The Indonesian Rupiah hit a 20-year low against the dollar (5), Vietnam’s ability to maintain a firm Dong (6) is doubtful as even developed countries fall prey to the contagion (7).
To some, the economic crisis and falling gold prices come as a godsend, granting Russia a buffer against sliding oil prices (8), and opening up new markets for Qatar (9).
In contrast, the US economy is growing, claiming 5.4% in Q2 2018 (10), with wages increasing 2.9% (11) and unemployment claims dropping to lows not seen in the last half century (12).
References
Little Relief in Sight as Emerging Stocks Slide Near Bear Market
The currency of the world's 7th-biggest economy is plummeting, and it could get worse from here
Indonesian rupiah hits lowest mark since Asian financial crisis
Vietnam Central Bank Confirms It Stands Ready To Maintain Firm Dong
The Ruble's Fall Is Just What Russia Needs To Deal With Oil Price Collapse