The Chinese yuan is mixed against multiple currency competitors midweek as global financial markets contend with the coronavirus that appears to be worsening worldwide. Despite the potentially damaging economic fallout, some Wall Street titans anticipate Beijing will recover in the second quarter, which might happen as the country employs various fiscal and monetary stimulus measures.
The Chinese yuan is strengthening against the major currency rivals to kick off the trading week, buoyed by investors’ hopes that Beijing will launch additional fiscal and monetary stimulus to protect the economy from the Wuhan coronavirus fallout. Over the last two weeks, policymakers have unveiled economic measures to limit the damage from Covid-19, and financial markets have been ebullient over the announcements.
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 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 US dollar slumped midweek as the US and China officially signed the first phase of a comprehensive trade agreement. This comes as December inflation was subdued and business optimism fell short of analysts’ expectations. Still, the greenback is trading relatively higher against a basket of currencies this month.
The Japanese yen was generally strong today amid persisting concerns about the US-China trade negotiations. Macroeconomic data released in Japan over Friday’s session was in line with expectations.
The Chinese yuan is rallying on Tuesday as the world’s two largest economies appear closer to signing the first phase of their comprehensive trade agreement. The currency was further strengthened on positive factory activity data amid the ongoing global trade hiccups. Could the yuan climb above the seven threshold as Beijing attempts to reverse the economy’s downward trend?
The US dollar is mixed against a basket of currencies on Monday as investors weigh new economic data and consider the latest developments in the US-China trade saga. With volatility in financial markets and growing geopolitical uncertainty, it is apparent that investors are unsure how to trade in the final week of August.
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 US dollar is mixed at the end of the trading week as a new lower-than-expected July jobs report highlighted how robust the national economy is as a diverse array of industries enjoyed gains and more people entered the workforce. But the greenback contended with renewed trade tensions between the US and China, which sent leading stock indexes into negative territory in the early part of the trading session.
