The Chinese yuan reversed its recent downward trend against the US dollar to kick off the trading week, breaking below 6.7 on positive economic data. The latest figures show that the post-coronavirus recovery is doing well, from growth to retail sales. This has Beijing anticipating that the world’s second-largest economy will be one of the few Asian countries to report growth in 2020. How will this benefit the currency?
The Chinese yuan is extending its losing streak against a basket of major currency rivals on Tuesday. The yuan, which recently suffered its worst one-day drop in seven months, slumped on slightly lower-than-expected trade data. With more economic data being released this week, the yuan could come under a lot of pressure and reverse its significant 2020 rally.
The Chinese yuan is trading flat against the US dollar, but it has topped 8.0 against the euro to kick off the trading week. The yuan is coming off its best quarter in more than a decade as analysts warn think the yuan could become the next safe-haven currency amid volatility. Can the yuan test 6.6 in the final quarter of 2020?
The Chinese yuan is looking to extend its modest winning streak this week, buoyed by better-than-expected manufacturing and non-manufacturing data. Global financial markets have been waiting for these figures to see how the world’s second-largest economy is faring in the aftermath of the coronavirus pandemic. While the numbers are positive, they still suggest sluggishness in China.
The Chinese yuan paused its rally last week after touching a 52-week high of 6.75 against the US dollar. The yuan is looking to restart its push against the greenback to kick off the trading week, driven by additional liquidity in the banking system and a recovering economy. Can the yuan maintain its upward trajectory?
The Chinese yuan is continuing to make gains against the US dollar on Tuesday ahead of the manufacturing and non-manufacturing purchasing managers’ index (PMI) readings. The yuan, which had cratered to as low as 7.17 against the greenback, has been one of the top-performing Asian currencies this year, advancing nearly 3% year-to-date. Could the yuan defy market expectations even more?
The Chinese yuan is extending its winning streak against the US dollar to start the trading week, driven by a liquidity injection and a recovering economy. A slumping greenback further contributed to the yuan’s ascent, allowing the currency to soon test 6.8, which would be the first time since June 2019.
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.
The Chinese yuan is looking to start another winning streak after the currency suspended its momentum against the US dollar. The yuan has been on a tear in recent months, testing 6.8 against the greenback, primarily due to favorable domestic economic data and a weakening buck. But escalating US-China tensions and the plunge in equities in recent sessions could limit the yuan’s gains – for now.
The Chinese yuan is continuing its appreciation against the US dollar on Tuesday as better-than-expected manufacturing activity and continued stimulus in the banking system extended the currency’s winning streak. The yuan has been strengthening against the greenback since the height of the coronavirus pandemic, and it is now testing the 6.8 range.
