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While the spotlight is on U.S. dollar ( USDOLLAR ) strength, Asian currencies are more of a danger to the plans of the Federal Reserve, according to Societe Generale strategist Albert Edwards. The fallout could push the S&P 500 ( SP500 ) ( SPY ) below 2,200, the note...
The Chinese yuan is going through its worst devaluation since 2018 as signs of economic slowdown emerge. The USD/CNY has risen in the past five straight weeks and is currently trading at the highest level since November 2020. It has risen by over 6.35% from its lowest level this yea...
Freezing a central bank’s currency reserves is not new, but Russia is the first globally integrated economy to suffer this fate. The potency of sanctions on Russian central bank reserves has stemmed from coordinated actions of the U.S., Europe, the U.K., Canada, and Japan, amon...
The USD/CNY rose while Chinese stocks declined sharply after the number of Covid-19 cases in Shanghai worsened. The Chinese yuan is trading at 6.37 against the US dollar while CSI and Hang Seng declined by 2%. Shanghai outbreak continues The Chinese economy is seeing a sharp...
Fed hikes rates 25bp for the first time since 2018. The FOMC also hinted a balance sheet run-off plan is in progress and could be announced next meeting. Previous tightening cycles and normalization efforts had been abandoned or paused numerous times by the Fed the last several years....
The USD/CNY price tilted upwards for the fifth straight day as concerns about the Chinese economy escalated. The pair rose to a high of 6.35, which was substantially higher than the year-to-date low of 6.33. It is still about 0.57% below the highest point this year. China econom...
The USD/CNY soared to the highest level since January 2022 as investors reacted to the strong economic data from China. It is trading at 6.3783, which is about 1.20% above the lowest level this year. Chinese economic growth The Chinese economy is firing on all cylinders as g...
Crude oil prices soared to the highest level in almost a decade as investors remained concerned about the ongoing crisis in Europe. Brent, the global benchmark, rose to $105 while Western Texas Intermediate (WTI) rose to $100. Here are some top currencies that could benefit as oil price...
The USD/CNY price had a difficult January as the Chinese yuan continued its comeback against the US dollar. The index dropped to a multi-month low of 6.3023, which was about 1.12% below the highest level this year. China manufacturing PMI The Chinese economy continued its co...
If China were serious about preventing a downturn and continuing the credit buildup, they would be bailing out the property developers right now. We are not seeing that. Instead, I think they opt to hard-land and inject new RMB into the banking system. As the Fed tightens and PBOC eas...
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China is among the world’s leading economies , with the country’s gross domestic product second only to that of the United States as of 2023. The country of over 1.41 billion people has a bigger economy than the European Union and holds more foreign exchange reserves than any ...
The USD/CNY exchange rate has been in a steep sell-off as China’s fundamentals improved. It crashed to a low of 6.945, the lowest level since September 14. The Chinese yuan has crashed by more than 4.7% from its highest level in November. Chinese reopening continues The...
Forbes Media Chair Steve Forbes has warned that governments and central banks have ignored the significance of having stable currencies by emphasizing interest rate hikes to curb inflation . On Monday, the British pound slightly dropped 4% to $1.0382 in Asian Markets aft...