The Chinese yuan is weakening at the end of the trading week on recent National Bureau of Statistics (NBS) data that disappointed investors. This year, the currency’s descent has been in line with the trends plaguing the national economy, leaving many analysts wondering if the yuan will maintain this negative performance in 2019.
The Chinese yuan is strengthening midweek as the federal government prepares to unveil its economic game plan. After a disappointing 2018 performance, mostly due to the US-China trade war, Beijing is looking to spur growth by introducing a series of measures that President Xi Jinping hopes will limit the damage.
The Chinese yuan is rising on Tuesday, despite the release of data that is reflecting poorly on the national economy. But investors might be focusing more on the US government’s actions on Huawei and the arrest of CFO Meng Wenzhou, which might lead to Beijing retaliating by targeting American executives. Ultimately, the situation could threaten the 90-day trade truce agreed upon by President Donald Trump and President Xi Jinping.
The Chinese yuan is continuing to post significant gains in the aftermath of the US-China trade truce. With trade hostilities suspended for 90 days, the yuan is looking to pare its steep losses, and some analysts believe the currency could become a global heavyweight in the years to come. Now if only the economy would rally as much as the yuan.
The New Zealand dollar surged along with other commodity currencies today on the news about a temporary truce in the trade war between the United States and China. The kiwi was unable to beat its Australian counterpart, which emerged as the strongest on the Forex market.
The Australian dollar fell today. While domestic macroeconomic data was decent, reports in China, Australia’s biggest trading partner, were disappointing.
The Chinese yuan is weakening on Tuesday as new reports of African swine fever are sending economic ripples across the nation’s agricultural sector. The bearish news did not end there as industrial profits slowed in October and forecasts show growth will cool down next year.
The Chinese yuan is struggling to find direction against its American counterpart on Tuesday as the market weighs several stories impacting the national economy. From President Donald Trump’s latest swipe on Beijing to the rising tide of corporate defaults, China is bracing for a lot of pressure heading into next year.
The Australian dollar attempted to rally during the Wednesday’s trading session but fell later. Some market analysts attributed the decline to the worse-than-expected retail sales in China. China’s macroeconomic data often has strong impact on the Australian currency because China is Australia’s biggest trading partner. Economic reports released in Australia itself over the current session were good.
The Chinese yuan weakened to a 10-year low against its US counterpart as the national economy held steady in October. It is evident that President Donald Trump’s trade war against Beijing continues to have a dire toll on the world’s second-largest economy. With the trade spat expected to linger into 2019, analysts are warning that the worst is far from over for China.
