The Chinese yuan is edging higher midweek after the federal government announced that it would be slapping anti-dumping duties on steel imports from major regional trading partners. This might be part of the nation’s strategy of “arduous efforts” to match this year’s industrial output growth target, particularly as protectionism and trade wars apply pressure on exports and affect the world’s second-largest economy.
The Chinese yuan is strengthening to start the trading week as new economic data lifted the currency against several major rivals on Monday. As Beijing begins a trade truce with Washington, foreign exchange reserves were better than expected, which also coincides with new loans expected to surge to their best levels in five months.
The Chinese yuan is strengthening against several major currencies on Thursday as the federal government announced it would be deregulating a whole host of industries to encourage foreign investment. This is part of Beijing’s efforts to open its market to the rest of the world and curb the growing number of companies fleeing the world’s second-largest economy amid the trade war.
The Chinese yuan is strengthening against several major currencies on Tuesday, supported by solid housing prices and retail sales in May. Although industrial output and fixed asset investment figures came in lower than expected, they were still commendable at a time when the world’s second-largest economy is engaged in a bitter trade war with the US.
The Chinese yuan is weakening against major currency rivals on Thursday after new data painted a grim picture of the world’s second-largest economy. The trade war, which appears to be at a standstill, is seeping to a whole host of areas in Beijing, impacting economic growth and causing officials to hit the panic button. In the backdrop of the chaos is the yuan nearing toward the 7 threshold against the buck.
The Chinese yuan is weakening to kick off the trading week as the nation’s foreign exchange reserves and exports unexpectedly rose in May. With the balance of trade numbers being higher than what the market had anticipated, it might play a role in the US-China trade war, which is dragging out and could linger into the holiday season.
The Chinese yuan is mixed midweek on poor economic data. But the biggest development for the yuan is that it is nearing the 7 mark against the US dollar. The federal government has hinted that it will take action to prevent the yuan from reaching that threshold. The last time the yuan crossed 7 was in December 2016.
The Chinese yuan is weakening against major currency rivals at the end of the trading week, driven mainly by disappointing economic data, as well as the lingering trade war with the Americans. The yuan has had a rough second quarter against the US dollar, but it has mostly gained against the euro so far this year. China has had a mix of highs and lows this year – both on data and trade.
The Chinese yuan is rising to kick off the trading week, buoyed by stronger confidence in the world’s second-largest economy and a strong warning from the nation’s top banking regulator for the currency bears. But the rally was capped by disappointing economic data and worsening trade relations with the US.
The Chinese yuan is strengthening on Tuesday as the federal government continues to talk up the currency, despite bearish sentiment from foreign investors surrounding the world’s second-largest economy. As the US-China trade war escalates, there are fears that not only will the Chinese economy continue to spiral downwards, but also the global economy will contract.
