The Chinese yuan is weakening to start the trading week as new economic data suggests that the federal government’s stimulus program may finally be seeping into the economy. On Monday, a couple of new reports and forecasts suggest an improvement for the world’s second-largest economy in recent months after a brutal 2018. With the US-China trade war in its end days, the economy might finally kick into overdrive.
The New Zealand dollar performed well during the past trading week. What factors will be affecting the currency during the current week?
The New Zealand dollar was mixed today, rising against some rivals, falling versus others, and staying flat against some others. Macroeconomic data, both domestic and from abroad, was mixed as well, giving the currency no reason to go in a specific direction.
The Australian dollar was soft today despite positive macroeconomic data in China, Australia’s biggest trading partner. Domestic data was not particularly good, but was not that bad either, certainly not enough to hurt the currency significantly. Today’s drop was not nearly enough to erase yesterday’s big rally, though, and the Aussie remains one of the strongest currencies for the week.
The Chinese yuan is trading lower against some of its currency rivals midweek. The world’s second-largest economy received a bit of renewed confidence this week as many analysts and investors are optimistic that Beijing could have a strong showing both this week and for the rest of 2019. Is China set to host the running of the bulls again?
The Australian dollar recovered today after yesterday’s drop caused by Australia’s central bank. Macroeconomic data, both domestic and Chinese, was the major cause for the currency’s rally today.
The New Zealand dollar rallied today, lifted by positive news from China. China’s service sector expanded more than was expected, while rumors circulated that the United States and China are close to a trade deal.
The Chinese yuan is weakening against some of its currency rivals on Tuesday, despite a myriad of data that suggests the economy might be rebounding as the year progresses. Should investors be optimistic, or should they maintain a modicum of skepticism?
The Australian dollar opened sharply higher today compared to the Friday’s close and continued to move up versus most major currencies afterwards. While domestic macroeconomic data was not particularly good, the currency paid more attention to extremely positive reports in China, Australia’s biggest trading partner.
The Chinese yuan is mixed against several major currency rivals on Tuesday as investors hold steady and wait out the US-China trade talks. In the meantime, investors are looking at a myriad of reports to find a short-term trading direction for the currency. How much longer can traders hold out hope for a conclusion to the trade spat between the world’s two largest economies?
