The Chinese yuan is weakening against a handful of currency rivals on Thursday as the world’s two largest economies begin low-level trade negotiations in Washington. With analysts anticipating economic growth to slip under 6%, and new housing data falling short of market expectations, Beijing is feeling bearish. A trade deal might be the only thing that saves the country.
The Chinese yuan is strengthening against major currency rivals to kick off the trading week, despite recent economic data falling short of expectations. Investors seem to be more bullish on US-China trade optimism, partially ignoring the latest industrial and retail sales numbers.
The Chinese yuan is strengthening against major currency rivals on Thursday, which may surprise investors because of what has been transpiring toward the end of the trading week. In addition to disappointing economic data, there were reports that the White House was considering an interim US-China trade agreement, something that was quickly disputed within hours.
The Chinese yuan is weakening to kick off the trading week, driven by a decline in August exports as the world’s second-largest economy continues its trade dispute with the US. But investors were optimistic about Beijing’s $126 billion cash injection into the struggling market, especially with analysts anticipating greater stimulus for the remainder of 2019.
The Chinese yuan gained on the US dollar today after China’s services sector showed an accelerating rate of growth last month.
The Chinese yuan rallied against the US dollar intraday but erased its gains by now. The initial rally was a result of a surprisingly good report about China’s manufacturing from Markit Economics, though government data released over the weekend was nowhere near as good. In fact, USD/CNY rallied just recently.
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 strengthening against most major currency rivals on Thursday after the federal government reported better-than-expected trade numbers. Despite the positive numbers, they could contribute to the escalation in the US-China dispute, mainly because exports surged and Beijing’s trade surplus came in better than what the market had anticipated.
