The Chinese yuan is sliding against multiple currency pairs to start the trading week. The central bank’s decision to unexpectedly cut its short-term funding interest rate is playing a huge role in global financial markets on Monday. Will this be enough to withstand the economic storm clouds that have been gathering in the world’s second-largest economy over the last 18 months?
The Chinese yuan is rebounding against multiple currency pairs on Tuesday, following an onslaught of disappointing economic data. The biggest driver of the yuan’s gains is President Donald Trump’s upcoming speech at the Economic Club of New York that is expected to announce delays to tariffs on automobiles, as well as hints on the current state of US-China trade negotiations.
The Chinese yuan has climbed above the key 7 threshold against its US peer for the first time in three months, driven by hopes that the US and China are on the cusp of agreeing to the first phase of a comprehensive trade deal. Improving trade data and a better-than-expected purchasing managers’ index (PMI) are also giving the yuan a boost.
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 Chinese yuan is rebounding on Thursday after disappointing manufacturing and non-manufacturing data. Despite the jump, analysts anticipate weakness in the yuan for the rest of the year, even as the US and China are poised to reach the first phase of a comprehensive trade agreement between the world’s two largest economies.
The Chinese yuan is weakening against most major currency rivals at the end of the trading week after Beijing reported that the world’s second-largest economy expanded at the slowest pace in 30 years. While the third-quarter report was dominated by the gross domestic product (GDP), there were a couple of positive indicators that still offered hope for investors, especially as US and China trade relations are stuck at a standstill.
The US dollar is trading lower against multiple currency rivals midweek, driven by disappointing economic data and continued uncertainty surrounding US-China trade relations. Still, the consensus is that the greenback will remain one of the strongest currencies over the next 25 years, competing with the Chinese yuan and the euro.
The Chinese yuan is struggling against its major currency competitors on Tuesday as optimism over the first phase in the US-China trade deal diminishes. After initial celebration in financial markets, investors now have some consternation until a formal and written agreement is signed. The yuan was greater impacted by disappointing economic data.
The Chinese yuan is rising ahead of several currency pairs as the world’s second-largest economy prepares to restart trade negotiations with the US. Before even beginning the talks, it is being reported that Beijing is becoming hesitant to reach a broad trade agreement. Chinese officials reportedly do not want to cave to Washington’s chief demands, meaning that the discussions might endure a premature end.
The Chinese yuan is weakening to start the trading week, despite a slight improvement in economic data. The yuan, which has been battered against most currency rivals, has slipped way beyond the 7 threshold, leaving analysts wondering if this is the point of no return between the greenback and the yuan. The only way the market will find out is next month in Washington.
