Live Forex news from all over the world.
Chinese Yuan CNY
Central Bank: People's Bank of China
Interest Rate: 4.35%
Public Debt to GDP Ratio, 2017: 18.6%
Trade Balance, 2017: $426 bln.
Inflation, 2017: 1.8%
Major industrial exporter
strong
Currency strengthening is opposed by the government
strong
The Chinese yuan is the commonly used name for the currency of the People’s Republic of China. Officially, the modern Chinese currency is called the Renminbi, while the yuan is the primary unit of that currency. The currency is used in China, but not in Hong Kong and Macau. The first renminbi banknotes were introduced in December 1948. The yuan was pegged to the US dollar through the most part of its history, though since 2005 China allowed it to float in a narrow corridor and intends to widen the free-float range over time as a part of the transition from central planning to a free market economy. The usage of the yuan in international trade is limited by severe regulations that forbid the currency to be used in transactions with foreign entities. China showed willingness to ease these regulations as it strives to make the yuan new reserve currency. China made agreements with Russia, Vietnam, and Thailand that allow trade with those countries to be settled directly in renminbi.
The Chinese yuan is surging midweek as investors are optimistic about Washington and Beijing nearing a new trade agreement that would end this year-long standoff between the world’s two largest economies. Although President Donald Trump and President Xi Jinping will not meet prior to the March 1 deadline, both sides are positive that crucial developments can be made in the final days of the trade truce.
The Chinese yuan is weakening to kick off the trading week as a state-run newspaper anticipates economic growth to slump to a historically-low level in the first quarter. Investors are also combing through the latest forex exchange reserve data.
The Chinese yuan is ignoring negative market sentiment on Tuesday, despite a myriad of warnings pertaining to the national economy. Beijing has experienced a significant slowdown in recent months, stemming mostly from the US-China trade war. Even though it looks like both sides are inching towards a new trade agreement, there is still growing pessimism regarding growth.
The Chinese yuan is making significant gains against its major currency rivals towards the end of the trading week. The yuan is rising on the latest services economic data, but the currency’s rally was capped by concerning manufacturing news.
The Chinese yuan is rebounding from a two-week low as economic worries dissipate. The yuan, which was one of the weakest Asian currencies last year, is gaining on reports that the federal government does not want to see it weaken too much should it affect trade negotiations. There has been talk that the world’s two largest economies are inching towards a new trade agreement.
The Chinese yuan weakened against its major currency rivals to kick off the trading week as the latest gross domestic product (GDP) figures were released. And it was not pretty for the world’s second-largest economy, though some traders are finding needles in a haystack with government data.
The Chinese yuan is trading sideways to start the trading week as new worse-than-expected trade data is showing bad signs for the world’s second-largest economy. Last month’s trade woes are leaving investors with the belief that these numbers will only worsen in the coming months.
The Chinese yuan is gaining against its US counterpart on Thursday on slowing inflation and recent measures by the federal government to stimulate the economy. But as Beijing employs more initiatives to spur growth, some analysts are sounding the alarm about the world’s second-largest economy pushing new “untested” policies that may or may not achieve growth officials want.
The Chinese yuan is trading sideways on Tuesday as investors continue to weigh the economy. Beijing has attempted to ease traders’ minds by confirming reports that US-China trade talks are improving and that the government and central bank are employing stimulus measures to spur growth. But some experts believe that the world’s second-largest economy is worse than officials are saying.
The Chinese yuan is strengthening against its US counterpart midweek, despite new data that shows the world’s second-largest economy had a worse December than the market had anticipated. This is leaving some central bankers to forecast a slower-than-expected fourth-quarter, which is not something the nation’s leadership wants to hear as it ignites a wave of stimulus measures.
