The Chinese yuan is struggling for direction against the greenback to kick off the trading week. While the yuan is flirting with a one-week high, US-China relations and monetary policy continue to weigh on the currency. Should the broader economy and financial markets rise, investors will inevitably pare their positions in the buck and transition that capital to other currencies. But with so much uncertainty, is this a certainty?
The Chinese yuan is posting modest gains against its US counterpart to start the trading week, with strong economic data and additional monetary policy actions in focus. Following last year’s monumental 7% ascent and its modest performance in early 2021, the yuan has cooled down, trading relatively flat in recent weeks. Will the yuan rest 6.49 against the greenback?
The Chinese yuan is looking to kick off a new rally against its US peer following a quiet February that saw the USD/CNY currency pair flatline. But disappointing economic data could limit the yuan’s rise as financial markets start March. Is the Chinese economic recovery slowing down, or is this a blip on the radar?
The Chinese yuan traded relatively flat against its US peer on Tuesday as global financial markets are bleeding red ink for the second straight session. While the yuan has advanced to kick off 2021, the momentum in its rally has subsided, with the USD/CNY currency pair flatlining in February. Will the yuan target 6.4 or 6.5 against the greenback?
The New Zealand dollar performed the same way as its Australian counterpart today: rising initially but retreating later. That is despite the supportive market sentiment and positive domestic macroeconomic data.
The Chinese yuan is recording a modest gain against its US peer to start the trading week. The yuan is finding support on larger-than-expected foreign exchange reserves, as well as the central bank injecting more liquidity into the financial system. The yuan has maintained its bull run from 2020 as the currency could break below 6.45 against the greenback amid its year-to-date 1% rally.
The New Zealand dollar was the strongest currency on the Forex market during Asian and European hours of Wednesday’s trading after the release of better-than-expected employment data in New Zealand. Other news was positive for the kiwi as well for the most part, except for China’s disappointing services PMI.
The USD/CNY currency pair rose modestly today following a worse-than-expected report on China’s services sector. While the industry continued to expand, the rate of expansion slowed much more than economists were expecting.
The Chinese yuan fell against the US dollar today as Purchasing Managers’ Indices released today, both official and private, were disappointing. The Forex market was mixed today, without a clear trend. The rest of the week is going to be extremely eventful in terms of macroeconomic releases.
The Chinese yuan weakened against its US currency rival to start the trading week as economic growth fell below market expectations. Despite the gross domestic product (GDP) falling short of fourth-quarter estimates, the world’s second-largest economy expanded by more than 2% in 2020 as the rest of the world suffered significant damage amid the coronavirus pandemic. But it was not enough to lift the yuan.
