The Chinese yuan is strengthening against many of its currency competitors to start the trading week. But while some economic data are boosting the currency on Monday, reports that investors are pouring into the stock market at the state media’s direction is generating all the buzz.
The Australian dollar rose today. In fact, it was the strongest among most-traded currencies on the Forex market. The Aussie got a boost from positive macroeconomic data, both domestic and Chinese.
The Chinese yuan is weakening against the US dollar and other major currency rivals in the middle of the trading week. Global financial markets were pleased to learn that manufacturing and non-manufacturing activity has rebounded at a faster-than-expected clip over the last month, leading to optimism that China’s economic recovery is beginning to accelerate. With additional central bank stimulus can Beijing achieve growth in 2020?
The Chinese yuan is flat against most of its currency rivals at the end of the trading week, despite a new report that suggests China’s economy will buck the global trend and grow this year. China recently kickstarted its economic rebound, but early data indicators highlight that Beijing’s efforts are only producing a slow recovery.
The Australian dollar was extremely weak today following the release of a very disappointing employment report. The Aussie fell against almost all of its most-traded peers, even the New Zealand dollar that was weak itself, but not against the Great Britain pound.
The Chinese yuan is slightly weakening ahead of Beijing’s auction of one trillion yuan ($141 billion) in special treasury bonds to help cover the cost of combating the coronavirus pandemic. Investors are all eyes on the event to see how it would impact market liquidity. Mixed economic data are also affecting the yuan’s performance against currency rivals to start the trading week.
The Chinese yuan is weakening at the end of the trading week, driven primarily by reports that government officials will rein in financial risks and push cheap funding into the real economy. The yuan has had a relatively flat week against the US dollar amid chaos in global financial markets. Where is the currency headed in the second half of 2020? And will the world’s second-largest economy succeed in its reset over the next six months?
The Chinese yuan is falling against a myriad of currency competitors on Tuesday as it attempts to recover after a decline in exports. The yuan has stabilized in recent weeks due to the world’s second-largest economy hitting the reset button, but the currency is still above the seven-threshold against the US dollar and other major rivals.
The Japanese yen was mixed today after economic data that put markets in a risk-on mode. Markit released services Purchasing Managers’ Indices for a range of countries during the trading session. Of particular importance to the yen were the reports for China and Japan.
The Chinese yuan is strengthening against several Western currencies on Monday, driven by a better-than-expected private sector survey of manufacturing in the world’s second-largest economy. The yuan is also trying to find direction on reports that Beijing is requesting state-run firms to suspend purchases of American agricultural goods. As many analysts anticipate another down year for the yuan, could a renewed trade dispute slam the offshore currency?
