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Chinese Yuan Slips as US Threatens Sanctions on China Over Hong Kong

The Chinese yuan is extending its losses to jumpstart the holiday-shortened trading week. The currency is falling against its rivals on Monday after the White House threatened to slap sanctions on China over the government’s proposed implementation of national security laws on Hong Kong that reportedly threaten its autonomy. The heightened tensions come as the world’s two largest economies escalate their war of words over trade. Whether this is a new […]

Chinese Yuan Weakens on PBoC Expansion, Poor Data

The Chinese yuan is weakening against its primary currency competitors to start the trading week. Trading patterns appear to reveal that investors are uncertain regarding the yuan’s near-term performance due to weak economic data and expansionary monetary policy. With 100 million people under a renewed lockdown over a potential second wave of the coronavirus pandemic, is the economic restart in jeopardy?

Canadian Dollar Drops Against US Peer, Recovers on Poloz’s Speech

The Canadian dollar today lost ground against its US peer as the greenback posted gains boosted by President Donald Trump’s comments about a strong dollar. The USD/CAD rallied higher earlier today before giving up all its gains later in the session as the loonie recovered on hawkish comments from the Bank of Canada Governor.

Euro Falls on Risk-Off Market Sentiment Amid Global Recession Fears

The euro today fell against the US dollar driven by the risk-off market sentiment dominated by fears of a looming global recession in the aftermath of the COVID-19 pandemic. The EUR/USD currency pair extended yesterday’s decline that was triggered by the Fed Chair Jerome Powell’s dismissal of negative interest rates in the US.

US Dollar Recovers As Federal Reserve Dismisses Negative Interest Rates

The US dollar has wiped out all its losses from earlier in the midweek trading session after the Federal Reserve dismissed it would be introducing negative interest rates. Fed Chair Jerome Powell’s grim assessment of the US economy could prompt investors to pour into the greenback as a safe-haven asset since financial markets tumbled throughout his press conference.

Chinese Yuan Slumps Despite Surprising Gain in Auto Sales

The Chinese yuan is slumping to kick off the trading week, despite a surprise gain in new motor vehicle sales last month. Investors are potentially keeping an eye on internal financing struggles and concerns over a renewed trade war between the two largest economies. Despite the coronavirus pandemic shutting down China, the yuan has only recorded modest losses against the US dollar. If the data improves, could the currency test […]

Japanese Yen Rallies Against US Dollar on Safe Haven Flows

The Japanese yen today rallied against the US dollar driven by the risk-off market sentiment, which saw the yen benefit from safe-haven flows. The USD/JPY currency pair fell to new multi-week lows as the yen kept making gains against the greenback despite the DXY’s gains.

Chinese Yuan Slips on Reports US Considering Canceling Debt Owed to China

The Chinese yuan is weakening against its major currency competitors midweek on reports that the US administration is considering canceling all or part of the roughly $1.1 trillion debt owed to China. According to local reports, Beijing is now mulling over a plan that would reduce its holdings of Treasurys as part of overall efforts to diversify the nation’s foreign exchange reserves.

Euro Falls Against Strong Dollar Amid Rising Global Tensions

The euro today fell against the much stronger US dollar as tensions between China and the US skyrocketed, causing investors to seek refuge in safe-haven assets. The EUR/USD currency pair due to the prevailing risk-off market sentiment in the financial markets that saw European equity markets close lower for the day.

Chinese Yuan Slides to One-Month Low on Manufacturing, Trump Trade Threats

The Chinese yuan fell to a one-month low against the US dollar to close out the trading week, driven mostly by sluggish manufacturing and renewed trade threats by the White House. Now that China has hit the reboot button on the economy, could Beijing contend with another trade spat with the US?

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