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Canadian Dollar Strengthens Despite Higher-Than-Expected Inflation

The Canadian dollar is strengthening against its US currency peer on Wednesday, despite price inflation coming in higher than the market forecast. Although the loonie has fallen against the greenback this year, the Canadian dollar has been making gains in recent months, allowing the currency to stabilize after enormous volatility in the first half of 2020.

US Dollar Plunges As Jobless Claims Fall to Pandemic Low, Stocks Rally

The US dollar is plunging against most of its currency rivals on Thursday as the number of Americans filing for first-time unemployment benefits declined to a pandemic low. With the 2020 US presidential election looking a little more certain in former Vice President Joe Biden’s favor, the broader financial markets are rallying, which has sparked a selloff of the greenback. Will a lower dollar be the norm in the home stretch of 2020?

USD/CNY Flat As New Bank Loans, Credit Growth Beat Market Forecasts

The Chinese yuan is trading flat against the US dollar to finish the holiday-shortened trading week. The yuan is trying to find support on positive numbers relating to credit markets. The currency has appreciated in recent months as the world’s second-largest economy stabilizes and rebounds in the aftermath of the coronavirus pandemic.

USD/CNY Climbs Back Above 7 As Trump Reveals US-China Trade Deal Not a Priority

The Chinese yuan is holding steady at the end of the trading week, despite President Donald Trump revealing that the second phase of a US-China trade agreement is no longer a top priority. The president told reporters aboard the Air Force One that the relationship between the world’s two largest economies is “severely damaged” after the coronavirus pandemic. The yuan climbed back above the key 7 threshold after his comments, but […]

Chinese Yuan Weakens As Investors Bet Beijing Will Rein In Financial Risks

The Chinese yuan is weakening at the end of the trading week, driven primarily by reports that government officials will rein in financial risks and push cheap funding into the real economy. The yuan has had a relatively flat week against the US dollar amid chaos in global financial markets. Where is the currency headed in the second half of 2020? And will the world’s second-largest economy succeed in its reset over the next six months?

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 […]

Canadian Dollar Crashes As Trudeau Shuts Down Border Over COVID-19

The Canadian dollar is crashing against most currency rivals on Monday after the federal government announced that it would shut down the border to non-Canadian citizens. Anyone who is showing symptoms of Covid-19 will not be permitted to enter the country. This was Prime Minister Justin Trudeau’s first major policy response to the virus outbreak, and he confirmed that more fiscal announcements will be coming this […]

Chinese Yuan Sinks As Purchasing Indexes Crash to Record Lows

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 […]

Chinese Yuan Weakens Despite Exports Beating Market Forecasts

The Chinese yuan is falling against several major currency competitors on Tuesday, despite positive trade data that suggest the US-China trade dispute winding down is proving already to be bullish for Beijing. The December numbers are beginning to roll in, and so far, it is good news for the world’s second-largest economy.

Chinese Yuan Soars As Trump Tweets ‘Very Close to a Big Deal’

The Chinese yuan is spiking on Thursday after President Donald Trump tweeted that the US and China are “very close to a big deal.” Mirroring the financial markets, the yuan pared its earlier losses and is rallying on the news. The yuan could end the week higher following this week’s upbeat economic data. But could the yuan exit the 7 territory against the US dollar to close out the year?

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