The Chinese yuan is rebounding at the end of the trading week, buoyed by the central bank’s recent stimulus measures to stimulate the world’s second-largest economy as the country tries to return to normal. The yuan had breached the crucial 7 mark against the US dollar this week, but the currency might recover amid encouraging economic progress.
The US dollar is making a late-day rally against multiple currency competitors midweek after the World Health Organization (WHO) officially declared that the coronavirus is now a global pandemic. The greenback had been relatively quiet in the middle of the trading week, but investors fled to the traditional safe-haven asset following the international body’s announcement.
The Chinese yuan is rising against the US dollar and is mixed against other currency rivals, midweek as global financial markets brace for China’s reboot. With the death toll and the number of confirmed cases subsiding, Beijing is preparing to gradually return to normal. But just how bad was the coronavirus for the Chinese economy? The consensus is simple: expect the worst and hope for the best.
The Canadian dollar is trading mixed against multiple currency rivals midweek after the central bank delivered on a cut to interest rates. The Bank of Canada (BoC) joins a growing chorus of institutions that are slashing rates this week in response to the growing concerns over the economic fallout from Covid-19. Will it be enough to fight the outbreak or will more monetary easing be necessary?
The Chinese yuan is sliding against most major currencies to kick off the trading week as the latest economic data highlighted just how damaging the fallout of the coronavirus has been to Beijing. It may be some time until China fully recovers from Covid-19, especially with hundreds of new cases being reported. Plus, the outbreak appears to have spread worldwide, causing consternation about global supply chains and the near-term […]
The Mexican peso is trading relatively flat against several major currency competitors on Tuesday. With the latest economic data coming in mixed, the public and investors may be becoming increasingly impatient with President Andres Manuel Lopez Obrador’s policies. A cyber attack on the nation’s economy ministry did not help spur confidence in AMLO’s government either.
The Canadian dollar is rallying midweek on China’s latest announcements of fiscal and monetary stimulus to combat the negative economic effects of the Wuhan coronavirus, also officially known as Covid-19. The loonie also benefited from soaring crude oil prices on Wednesday, but gains were capped on warnings that the rail blockade by protesters will affect the national economy.
The Chinese yuan is mixed midweek as traders are waiting to see how the federal government reacts to the economic fallout from the Wuhan coronavirus, which was recently named Covid-19 by the World Health Organization (WHO). The central bank has responded and Beijing has unleashed several stimulus measures, but disappointing 2019 fiscal numbers might limit what the federal government can do.
The Canadian dollar is weakening against most major currency competitors to close out the trading week. Despite retail sales coming in stronger than expected and inflation matching market expectations, the loonie’s decline could still be driven by the central bank leaving interest rates unchanged. Is the market signaling that a rate cut is needed to resuscitate economic growth?
The Australian dollar rallied against all other of its most-traded rivals, even the Japanese yen, which itself was rather strong. The main reason for the Aussie’s great performance was a surprisingly good domestic employment report, which improved the outlook for monetary policy a bit. Even risk aversion prevailing on the market was unable to stop the Australian currency from rallying.
