The Chinese yuan is spiking on Thursday after President Donald Trump tweeted that the US and China are “very close to a big deal.” Mirroring the financial markets, the yuan pared its earlier losses and is rallying on the news. The yuan could end the week higher following this week’s upbeat economic data. But could the yuan exit the 7 territory against the US dollar to close out the year?
The US dollar is mixed against multiple currency rivals on Tuesday after it was reported that US and China trade negotiators are working on a plan to delay the December 15 tariffs. This comes after the federal government revised its third-quarter productivity numbers slightly higher, though the report still marked a negative reading for the first time in four years. Business confidence is on the rise, however, so can positive […]
The Chinese yuan is trading slightly lower against multiple currencies to kick off the trading week. The yuan’s performance on Monday was driven by the latest disappointing trade numbers that suggest Beijing is still reeling from the US-China trade dispute. This might explain why, according to Chinese government officials, the world’s second-largest economy wants to settle phase one of a deal.
The New Zealand dollar traded either flat or a little lower against its major rivals after opening sharply lower today. The unexpectedly poor report about the trade balance in China hurt the market sentiment a bit. But the negative impact on the New Zealand dollar was limited as the data was not entirely bad. On top of that, domestic macroeconomic data was supportive of the kiwi.
The US dollar is falling against multiple currencies midweek amid disappointing private payroll numbers and a weak services sector. The bullish US-China developments appeared to have stopped the bleeding as investors have renewed their optimism (again) over an upcoming deal. But the buck may need to limit its losses if it wishes to keep its year-to-date gain.
The Australian dollar was weak today due to uncertainty surrounding the US-China trade deal as well as the slower-than-expected economic growth in Australia. Losses were limited, though, thanks to the positive report from China, Australia’s biggest trading partner.
The Chinese yuan is tumbling on Tuesday after President Donald Trump told reporters that a trade agreement with China can wait. The remarks offset positive manufacturing data that showed the industry expanded for the first time in seven months. The yuan remains firmly entrenched in the 7 territory against the US dollar after appreciating on hopes of a trade agreement.
The US dollar is struggling for direction midweek after a wide range of economic data was mixed. The greenback is also seesawing against a myriad of other currencies on uncertainty over phase one of a US-China trade agreement. The buck is looking to extend its gains to close out the year after climbing more than 2% so far in 2019.
The Japanese yen was rising intraday on the persisting concerns about the US-China trade talks. But currently, the yen has fallen against all other most-traded rivals. Domestic macroeconomic data could not be blamed for the fall as today’s report was rather good.
The Japanese yen rose against other major currencies today amid growing skepticism about chances for a trade deal between the United States and China. Japan’s trade balance failed to meet expectations but that had hardly any noticeable impact on the yen.
