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Wednesday August 12, 2015

// August 12th, 2015 // Daily News

Wall Street in the red after China’s second move

CNBC.com
U.S. stock index futures indicated another sharply lower open on Wednesday, with Dow futures down by around 165 points after China moved to devalue its currency for a second day in a row.
The People’s Bank of China set the yuan fixing at 6.3306 against the U.S. dollar on Wednesday, 1.6 percent weaker than the previous day’s level.
The move signaled Beijing’s new commitment to set the daily fixings according to the previous day’s closing spot prices and market-moves of other major currencies.
A trader works on the floor of the New York Stock Exchange.
The yuan extended losses, to trade around 6.42 per dollar, its weakest level in four years, fueling expectations of more sustained weakness and a feared “currency war” – where countries artificially weaken their currencies to gain a competitive advantage.
“The Chinese renminbi has now fallen by 3.6 percent since the end of last week against the U.S. dollar. We’re not much wiser than we were about how far the Chinese authorities will let the currency fall (much closer to 7 yuan against the dollar in due course is an opening guess) but after letting it weaken again today the PBoC has been seen intervening to calm the market,” said Kit Juckes, global head of foreign exchange strategy at Societe Generale.
Traders on Wednesday may be busier watching market signals than the few earnings and data on the calendar. On Tuesday, a negative technical sign appeared in the chart of the Dow, after its 50-day moving average crossed below its 200-day moving average, a bearish sign known as the “death cross”.
European equities slumped after a yuan-related selloff in Asian stocks weighed on investor sentiment, with auto stocks coming under significant pressure.

Today’s Inspiration

Amazing Grace

by Joyce Meyer – posted August 12, 2015

I do not set aside the grace of God; for if righteousness comes through the law, then Christ died in vain.
– Galatians 2:21 NKJV

In today’s scripture, the apostle Paul said that if he did not receive the grace of God, he would be treating His gift as insignificant. In the Amplified Bible, the first part of this verse says, I do not treat God’s gracious gift as something of minor importance and defeat its very pur¬pose. I do not set aside and invalidate and frustrate the grace (unmerited favor) of God. In other words, the grace of God is so awesome and so wonderful that we need to highly esteem it, deeply appreciate it, and allow it to work in our lives.

I discovered years ago that every time I became frustrated, the rea¬son was that I was trying to do something in my own strength instead of putting my faith in God and receiving His grace (help). I was frus¬trated and struggling with something most of the time in the early years of my walk with the Lord. Receiving a revelation of God’s grace was a major breakthrough for me.

Maybe now is a time when you need to embrace God’s grace in your life. He wants you to stop trying to do things in your own strength and simply rest in Him, trusting that He will handle everything in the best possible way.

God will not permit us to succeed in life without His help. If He did, we would take the credit that is due Him. Because He loves us, He wants to pour out His grace in our lives. When we receive it, we will be thankful, joyful, and amazed by what He accomplishes on our behalf.

Love God Today: Have you been frustrating the grace of God that is available to you? Relax, receive it, and let God’s grace do for you what you cannot do for yourself.