The Chinese yuan is crashing to kick off the trading week, cratering against all major currency rivals. The yuan is taking a beating after the leading stock indexes plunged due to the Wuhan coronavirus intensifying in China. The death toll reached 361 and the total number of people infected with the virus surged to 17,328. Will the world’s second-largest economy be able to recover? The authorities are responding to the outbreak with monetary and fiscal tools.
The Chinese yuan is plunging to its lowest level of 2020 as the Wuhan coronavirus outbreak intensifies. Despite the world’s second-largest economy showing signs of a rebound, the consensus is that China will reverse its gains and struggle to stay afloat, especially if some reports that the virus will intensify in April and May are correct.
The Chinese yuan is mixed at the end of the trading week as final data of 2019 and outlook for 2020 drive the currency’s trading performance. With industrial profits rebounding in November, analysts are holding out hope that next year could be an improvement now that there is some certainty on the trade file.
The Chinese yuan is weakening against multiple currency rivals at the end of the trading week. The yuan’s slide is being driven by another escalation in the ongoing US-China trade spat. Expectations of bearish industrial profits and manufacturing data have also contributed to the currency’s latest dip.
The Chinese yuan is weakening on Tuesday after the central bank introduced a new lending benchmark as part of the nation’s market-oriented reforms and attempts to weather the economic trade winds. Beijing joins a long list of other major markets that have recently imposed lower interest rates to boost lending and spur growth.
The Chinese yuan is having a mixed trading session against multiple currencies, driven by varied economic data. The biggest story for China was its July industrial production being worse than what the market had expected, though it was somewhat offset by soaring housing prices in the world’s second-largest economy. The yuan may not be able to strengthen against a basket of currencies until the trade war is finally over.
The Chinese yuan is weakening against several major currency rivals to kick off the trading week, driven by investors not expecting much to come out of the renewed US-China trade negotiations this week. Traders’ hopes were dashed after one prominent White House official conceded he “wouldn’t expect any grand deal” as the world’s two largest economies hold talks.
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 slumping against many major currencies at the end of the trading week. The yuan, which has plummeted in the wake of the escalation in the US-China trade war, rebounded on bullish economic data midweek but has since retreated on disappointing numbers.
The Chinese yuan traded broadly to kick off the trading week as the world’s second-largest economy finally received some positive economic news after more than a year of downbeat data and sentiment. Is China on the cusp of turning it around and kickstarting the economy?
