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.
The Chinese yuan is trading relatively flat against its US peer to close out the trading week. China cheered the news that exports popped in December, but all eyes will be on Monday’s gross domestic product (GDP) data for the fourth quarter. Beijing is expected to be one of the few major economies to report growth in 2020, despite being ground zero for the coronavirus pandemic.
The Chinese yuan is adding to its strong start to 2021 against the US dollar on Tuesday. The yuan, which has been one of the top-performing currencies in foreign exchange markets over the last eight months, is finding support on policy support stabilization, highlighting that officials are confident that the recovery is occurring at a good pace. Although policymakers have indicated they will allow the yuan to appreciate, investors are wondering […]
The Australian dollar fell today together with other commodity currencies as investors were more interested in safer currencies, like the US dollar and the Japanese yen (but not the Swiss franc). That suggests that markets were in a risk-off mode, and the decline of European stocks during Monday’s trading session also implied that it was the case. The Aussie was attempting to rebound, getting support from better-than-expected macroeconomic releases in Australia […]
The Chinese yuan was trading relatively flat against its US peer in the middle of the first trading week of 2021. The yuan, which has been on a tear over the last nine months, broke through the 6.5 resistance level earlier this week as the currency continues its impressive appreciation. But disappointing economic data and foreign exchange intervention may slow down the yuan’s surge.
The Australian dollar traded mostly higher against its most-traded rivals on the back of the positive market sentiment. Traders looked into the future with optimism thanks to expectations of coronavirus vaccine rollouts and the subsequent recovery of the global economy. A manufacturing report for China, Australia’s biggest trading partner, missed expectations but it did not seem to have a material impact on markets, perhaps because the data was not outright bad.
The Chinese yuan is slumping against the US dollar on the final trading session of 2020. Despite being one of the top-performing currencies in global foreign exchange markets, the yuan is finishing 2020 slightly lower on disappointing manufacturing and non-manufacturing data and the central bank injecting liquidity into the banking system. Can the yuan emulate its 2020 success in 2021?
The Chinese yuan is rebounding against the US dollar on Tuesday, buoyed by impressive data that highlight the strengthening recovery in the world’s second-largest economy. The yuan, which has come under pressure against its US peer this month, is looking to expand its rally in the home stretch of 2020. But will Beijing allow it to happen?
The New Zealand dollar was trading in the green today, rising against the majority of most-traded currencies, except for the Australian dollar and the Great Britain pound. The kiwi rallied because the market sentiment seemed to favor riskier currencies. Domestic macroeconomic data was positive, while reports in China, New Zealand’s biggest trading partner, were mixed.
The Chinese yuan retreated from its best level in more than two years to kick off the trading week, driven mostly on escalating Sino-US geopolitical and trade tensions. But the pullback was capped by better-than-expected exports in November, signaling that the world’s second-largest economy is recovering at a healthy pace.
