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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...
The USD/CNY pair declined to a key support level on Tuesday after the strong Chinese economic data. The Chinese yuan is trading at 6.37 against the US dollar. It has risen by more than 11% from its lowest level in 2021. China manufacturing data The Chinese yuan has been in a...
The USD/CNY pair crashed to the lowest level since 2018 after the relatively strong China economic numbers. The pair is trading at 6.3435, which is about 11% lower than the highest level this year. Chinese yuan rally continues The Chinese yuan has been in a strong bullish tr...
The USD/CNY pair is hovering near the lowest level since June as investors reflected on the relatively strong China economic data. It is trading at 6.3800, which is about 2.1% below the highest level in July this year. China retail sales The Chinese economy is going thro...
In the latest World Economic Outlook Report, the IMF said "the dangerous divergence in economic prospects across countries remains a major concern". While the IMF focused on the "vaccine divide" between developed and developing nations, there are other divergences at play. For exa...
The USD/CNY price was in a tight range in early trading as investors reflected on the mixed manufacturing data from China. The pair is trading at 6.4040, which is about 0.45% above the lowest level in October. China manufacturing data The manufacturing sector in China plays ...
The USD/CNY pair rose sharply after the relatively weak China GDP data. The pair rose to a high of 6.4385, which was about 0.25% higher than the lowest level last week. China GDP data The Chinese economy had a rough third quarter as the global supply chain challenge continue...
The USD/CNY price tilted lower after the relatively strong China trade surplus numbers published on Wednesday morning. The pair declined to 6.4450, which was slightly lower than Tuesday’s high of 6.4593. China trade numbers The Chinese economy held steady in September...
CHIX is the Global X MSCI China Financials ETF. China's economy is losing momentum. I believe China yields will decline hurting bank profits, Evergrande issues will spill into the broader Chinese financial system and high NPLs will be a problem for Chinese banks. The strike pr...
The dollar is narrowly mixed bid ahead of the jobs report. The Scandis lead advancing major currencies, while the yen and Australian dollar are the laggards. Among emerging market currencies, the Turkish lira and the Russian ruble are off the most (~0.45%), while the South African ran...
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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...