Forex News

Live Forex news from all over the world.


Yuan Climbs as China’s Macroeconomic Indicators Stabilize

May 31, 2017 at 10:47 by Vladimir Vyun

Yuan note reverseThe Chinese yuan gained today after macroeconomic indicators released in China during the current trading session showed stabilization, halting slowdown of growth. That made the currency more attractive to investors.

China’s manufacturing Purchasing Mangers’ Index stayed at 51.2 in May, unchanged from April, whereas experts had predicted a drop to 51.0. Furthermore, the services PMI rose from 54.0 to 54.5. Analysts are divided over whether this means a long-term stabilization of economic growth or just a temporary pause before slowdown resumes.

USD/CNY fell 0.63% to 6.8120 as of 10:46 GMT today.

If you have any questions, comments or opinions regarding the Chinese Yuan, feel free to post them using the commentary form below.

Leave a Reply