$CNY China’s stock market investors are not quite ready to see Beijing scale back its efforts to support the economy. Stocks started the week lower after improving data prompted traders to pare back their bets for additional stimulus. The Shanghai Composite Index rallied Tuesday after the PBoC injected cash into the financial system, alleviating concerns […]
$GLD, $USD, $EUR, $GBP, $CNY What we have been seeing over the past few years is that confidence in government is fading and the price of Gold is rising. Some current examples The UK House of Commons voted 413-202 last week to delay Britain’s exit from the EU. Despite resounding defeats, Prime Minister Theresa May […]
$SOY, $USD, $CNY FLASH: “…productive talks, I will be delaying the US increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for US & China!” The US and Chinese […]
$SOY, $CORN, $WEAT, $CNY President Trump plans to meet with China’s Top trade negotiator Friday afternoon as the US forges a preliminary deal before tariffs on some Chinese imports more than 2X next month. The meeting with Chinese Vice Premier Liu would cap the latest round of talks in Washington, with Trade Representative Robert Lighthizer […]
Chinese Yuan: USD/CNY (CNY=X) central bank raised the yuan midpoint rate The dollar traded slightly higher on Monday and hovered near two-month highs on a stronger-than-expected third-quarter GDP report. The U.S. dollar index that tracks the greenback against a basket of other currencies was up 0.08% to 96.24 by 12:08 AM ET (04:08 GMT). The […]
US Tariffs Driving RMB Yuan South to 10 yr Lows Vs USD $USDCNY (onshore): -0.29% to 6.868 $USDCNH (offshore): -0.09% to 6.879 Golden Week begins on 1 October With little prospect of a restart for US-China trade talks, we expect an escalation in tensions that will see higher American tariffs on all Chinese imports, sending […]
Chinese Yuan: USD/CNY (CNY=X) trade war remains key focus China’s yuan was little changed against the dollar on Thursday as market participants squared positions ahead of a long holiday weekend and remained cautious about developments in the Sino-U.S. trade war. The dollar hovered near a seven-week low against a basket of major currencies as trade […]
Chinese Yuan: USD/CNY (CNY=X) prices offering no clear cut signal Chinese premier Li Keqiang has trumpeted the benefits of global trade, in a speech at the World Economic Forum today in Tianjin, China. And as trade tensions with the US heat up, Li said Chinese policy makers have plenty of tools at their disposal to […]
Forex: Optimism Ahead of US-China Trade Talks Cap USD, Support RMB Yuan $USD/CNY In New York Wednesday US Dollar (.DXY) Index finished down 0.5% at 94.75, approaching its August low (94.43). The Buck saw some slight strength in overnight trade, but a slide to lows took place after the release of a cooler than expected […]
USD Higher on Continuing Trade Tensions $USD, $AUD, $EUR, $JPY, $CNY Friday, US President Donald Trump warned that he is ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267-B of goods in addition to the $200-B already facing the risk of duties. The US Dollar (.DXY) […]
Shanghai: SSE Composite Index (.SSEC) falling 2.06 percent to close at 2,723.64 The China stock market has moved lower in consecutive trading days, sliding almost 15 points or 0.6 percent along the way. The Shanghai Composite Index now rests just above the 2,780-point plateau although it should find traction on Wednesday. The global forecast for […]
Shanghai: SSE Composite Index (.SSEC) down more than 22 percent from its 52-week high Chinese equities have been among the worst performers globally this year amid the slowing Chinese economy and the country’s ongoing trade dispute with the U.S. Both the Shanghai Composite and Shenzhen Composite were in bear market territory at the end of […]
Shanghai: SSE Composite Index (.SSEC) shares mixed at close of trade China equities were mixed at the close on Monday, as gains in the Software & Computer Services, Technology and Technology Hardware & Equipment sectors propelled shares higher while losses in the Banking, Life Insurance and Financials sectors led shares lower. At the close in […]
Shanghai: SSE Composite Index (.SSEC) under pressure as trade uncertainty swirls Chinese stocks started the week in negative territory, with the Shanghai Composite falling 1.3% on the next round of tariff threats in the escalating Sino-U.S. trade war. Considering still-tight liquidity, the benchmark index could fall below 2,638 points, seen as a key psychological level […]
Shanghai: SSE Composite Index (.SSEC) longest stretch of 1%-plus swings since 2015 Chinese shares rallied on Thursday with the tech sector leading the gains, while healthcare stocks recovered some of the lost ground seen in previous days. The benchmark Shanghai Composite Index closed 1.83 percent higher at 2,794.38, while the Shenzhen Component Index closed 2.98 […]
Shanghai: SSE Composite Index (.SSEC) is down nearly 16 percent year-to-date Beijing’s recent retaliation failed to spur any whiff of risk aversion when it came to U.S. stocks, unlike previous rounds of tariff threats between the nations. While China’s Shanghai Composite Index is down nearly 16 percent year-to-date, helping spur its policy makers to cushion […]
Shanghai: SSE Composite Index (.SSEC) down 18 percent so far this year Analysts are telling their clients to prepare for a long “bumpy” ride in the escalating trade conflict between China and the U.S. The two major stock indexes in China have lost one-quarter of their value from highs this year. But it will take […]
Shanghai: SSE Composite Index (.SSEC) have suffered recently from the country’s ongoing trade spat with the U.S. Chinese stocks have suffered recently from the country’s ongoing trade spat with the U.S., their Japanese peers have benefited from improved earnings and the Bank of Japan’s annual purchase of up to 6 trillion yen ($54 billion) in exchange-traded funds. […]
Shanghai: SSE Composite Index (.SSEC) Trade war slams market again The Shanghai Composite Index slid 2 per cent, or 56.51 points, to 2,768.02, extending a 1.8 per cent drop a day earlier. The sell-off put the benchmark of the mainland’s equities just 2 per cent shy of a 28-month low set on July 5. “New […]
Chinese Yuan: USD/CNY (CNY=X) remains bullish for the moment A sustained close above 6.8205 marks will test key resistances at 6.8388, 6.8548 and 6.8705 marks respectively. Alternatively, a daily close below 6.8205 will drag the parity down towards key supports at 6.7864, 6.7658, 6.7373, 6.7160, 6.7005, 6.6715, 6.6518 and 6.6340 marks respectively. Important to note […]
Shanghai: SSE Composite Index (.SSEC) markets fell sharply in afternoon trade Trade-war fears sink indexes in Shanghai, Shenzhen; Nikkei retreats from recent highs. Asian stocks, after initially holding up Thursday morning following the latest U.S.-China trade developments, started sliding as China’s market opened. China stocks extend the declines of the past week-plus. The Shanghai Composite […]
The Trump Administration Pushes Chinese Officials Back to the Negotiating Table $CNY Wednesday, China cautioned the US against “blackmailing and pressuring” it over trade as The Trump Administration pushes officials back to the negotiating table through threats of even higher tariffs. President Donald Trump’s officials are considering more than 2X’ing planned tariffs on $200-B in […]
Shanghai: SSE Composite Index (.SSEC) already slipped into a bear market The outstanding balance of shorted stocks on the Shanghai and Shenzhen exchanges rose to 7.62 billion yuan (US$1.12 billion) on July 25, the highest level since June 2015, but still a tiny fraction of the 885 billion yuan in long interests. By the end […]
China Yuan: USD/CNY (CNY=X) currency headed for its fourth straight month of weakenin China July 2018 NBS manufacturing PMI decrease to 51.2 (previous 51.5). China July 2018 NBS non – manufacturing PMI decrease to 54 (previous 55). Take a long position on USD/CNY around 6.8220, stop loss 6.8100 and target of 6.8548. Overall, the bias […]
Shanghai: SSE Composite Index (.SSEC) Slump in trading and share sales will cut earnings China stocks were lower after the close on Monday, as losses in the Media, Retailers and Technology Hardware & Equipment sectors led shares lower. At the close in Shanghai, the Shanghai Composite lost 0.12%, while the SZSE Component index lost 1.23%. […]
China Yuan: USD/CNY (CNY=X) dropping as the trade war with the US escalates There are no significant domestic developments today. As a result, traders are watching Chinese financial markets for cues. While the People’s Bank of China initially weakened the USD/CNY exchange rate earlier today (as part of its daily fixing), the currency has since […]
Shanghai: SSE Composite Index (.SSEC) is down around 20 per cent The number of lock-up shares that will become eligible for trading on China’s bourses dropped markedly in August, according to Sunday’s Securities Times. Over 13.93 billion lock-up shares worth about 162.3 billion yuan (about 23.8 billion U.S. dollars) will become eligible for trading on […]
Shanghai: SSE Composite Index (.SSEC) Rebound Expected The Shanghai Composite has given back most of its recent breakout to finish 0.8% lower at 2879 points, getting back below recent resistance above 2900 points. The Hang Seng Index is following in lockstep, down 0.9% to 28646, taking back yesterdays gains but still looking like a swing play move higher off […]
Shanghai: SSE Composite Index (.SSEC) Heffx Buy Rating The Singapore stock market on Wednesday snapped the two-day slide in which it had eased more than 5 points or 0.02 percent. The Straits Times Index now rests just above the 3,325-point plateau and it’s called higher again on Thursday. Overall, the bias in prices is: Downwards. […]
China Yuan: USD/CNY (CNY=X) inched up slightly USD/CNY is currently trading around 6.7916 marks. It made intraday high at 6.8048 and low at 6.7880 levels. Intraday bias remains neutral for the moment. The sell-off in the Chinese Yuan continued on Monday as the reversal seen on Friday was largely erased and USD/CNY continued its ascent […]
Shanghai: SSE Composite Index (.SSEC) lowest level since March 1, 2016 Beijing is expected to respond with tariffs of its own on US goods as the trade fight between the world two biggest economies threatens to damage global trade and investment. The Shanghai Composite Index, which rose for the first time this week on Friday […]
Shanghai: SSE Composite Index (.SSEC) financials leading the gains The Shanghai Composite Index rose 1.1 per cent to 2,859.54, with financials leading the gains. In Hong Kong, the Hang Seng Index edged up 0.1 per cent to 28,256.12, extending its gains from Friday after recent sharp falls. At the close in Shanghai, the Shanghai Composite […]
Shanghai: SSE Composite Index (.SSEC) China not manipulating yuan Lock-up shares worth about 57.47 billion yuan (about 8.5 billion U.S. dollars) will become eligible for trading on China’s bourses next week. Over 7.1 billion shares will become tradable on the Shanghai and Shenzhen stock exchanges from July 23 to 27. China is not manipulating its […]
Chinese Yuan: USD/CNY (CNY=X) Came to an End of a 6 Week Slide The Thai baht and Singapore dollar hit one-year lows. The Malaysian ringgit hit its lowest level in the past seven months. The Indonesian rupiah and Philippines peso hit multi-year lows. Interestingly, the Chinese yuan breached its CNY 6.70/USD psychological level last week […]
Shanghai: SSE Composite Index (.SSEC) Extend Losing Streak The dollar retreated from a three-week high as investors cashed in on gains the currency made after U.S. Federal Reserve Chairman Jerome Powell’s two-day testimony reinforced a strong economic outlook. The trade war fears between the United States and China kept the offshore yuan to 6.7650 per […]
Shanghai: SSE Composite Index (.SSEC) stocks fall on soft economy data Chinese mainland stocks started the week on a soft note, after data showed the country’s economy expanded at a slower pace in the second quarter, while the heated trade war with the US threatened to knock exports. The blue-chip CSI300 index dropped 0.59 percent […]
Shanghai: SSE Composite Index (.SSEC) China companies increase share buybacks A growing tidal wave of share buybacks, unrivaled in history, has hit the capital markets this year, while the latest escalation in a global trade storm sent China into bear market territory. A string of 84 listed companies at least, including blue chip companies and […]
Shanghai: SSE Composite Index (.SSEC) rebound from trade fears Global stock markets rose Thursday following Wall Street’s decline amid U.S.-Chinese trade tensions and oil prices recovered some of the previous day’s steep losses. In early trading, London’s FTSE 100 rose 0.4 percent to 7,625.79 and Germany’s DAX added 0.2 percent to 12,448.09. France’s CAC 40 […]
Shanghai: China Shares Drop, Yuan Falls on New USA Tariff China’s stocks slumped Wednesday after three days of gains and the yuan weakened as the United States threatened more import duties on Chinese goods, sharply escalating the trade conflict between the world’s two biggest economies. China’s commerce ministry said it was “shocked” by Washington’s latest […]
Shanghai: SSE Composite Index (.SSEC) higher at close of trade; Shanghai Composite up 0.44% China stocks were higher after the close on Tuesday, as gains in the Travel & Leisure, Telecoms and Mobile sectors led shares higher. At the close in Shanghai, the Shanghai Composite added 0.44%, while the SZSE Component index added 0.49%. The […]
Chinese Yuan (CNY=X) Poised For Further Fall As Reserves Rise The value of the Chinese Yuan has come under pressure amid rising fears of a trade war. Recent data has noted that FX reserves have increased in China, which is possibly driving speculation that the Yuan could be set for a deeper fall. FX analysts […]
Shanghai: SSE Composite Index (.SSEC) Rebound with Biggest Gains Since 2016 Chinese large cap stocks climbed the most in two years, bouncing back from a bruising run of losses in the lead up to the imposition of U.S. tariffs last Friday. The yuan also rose after retreating for four weeks straight. Market sentiment improved on […]
Chinese Yuan: USD/CNY (CNY=X) Focus On Chinese Yuan Now Near-term dollar weakness is being confirmed by USD/CNH returning to a lower trading range. This dynamic is being supported by China equities which started the week on a positive note, partly on relief that Donald Trump didn’t further escalate the tit-for-tat with China. In the short-term, […]
Shanghai: SSE Composite Index (.SSEC) investors cautious as a first wave of tariffs looms Asian stocks deepened their losses on Thursday, with major markets finishing the session lower as investors remained cautious the day before tariffs from the U.S. and China are due to be implemented. On the mainland, losses on the Shanghai composite slid […]
USD/CNY (CNY=X) Yuan steadies after Chinese central bank moves Today’s chart shows the USDCNY exchange rate against the monetary policy interest rate differential for China (People’s Bank of China) and the USA (US Federal Reserve). The key point with this chart is that policy rate differentials point to a weakening CNY relative to USD. Indeed, […]
SSE Composite Index (.SSEC) still under pressure China stocks were lower after the close on Wednesday, as losses in the Software & Computer Services, Retailers and Technology sectors led shares lower. At the close in Shanghai, the Shanghai Composite declined 0.94% to hit a new 52-week low, while the SZSE Component index lost 2.02%. The […]
Shanghai: SSE Composite Index (.SSEC) China moves again to curb market panic Beijing has ramped up efforts to curb panic selling after China’s stockmarket hit new two-year lows on growing concern about US trade tariffs, a slowing economy, a weaker currency and the risk of the country’s unregulated debt spiralling out of control. Policy changes […]
Shanghai: SSE Composite Index (.SSEC) composite index falls to lowest since March 2016 Asian stocks declined sharply in June amid higher global bond yields and mounting China-U.S. trade friction that threatened global economic growth. In the first half of 2018, the MSCI Asia-ex-Japan index fell 5.4 percent, marking its biggest drop in five years. The Asian […]
Shanghai: SSE Composite Index (.SSEC) fears haunting China’s markets Fears about the stability of China’s economy in light of stock and currency fluctuations has prompted a Chinese government-backed think tank to warn of “potential financial panic”, according to a leaked document that began circulating late last week. In the document, the Beijing-based National Institution for […]
Shanghai: SSE Composite Index (.SSEC) slumps another 0.9% to two-year low GLOBAL passive funds are buying China’s domestically traded shares for the first time and it is not going well. Stocks in Shanghai have tumbled 13 per cent in dollar terms since MSCI Inc added so-called A shares at the start of the month. Overall, […]
Shanghai: SSE Composite Index (.SSEC) grapples with policy options as trade tensions unsettle domestic markets Shanghai Composite is world’s worst-performing index in 2018 Deleveraging campaign, outflow fears limit responses Authorities keen to avoid policy missteps made in past Amid fears over a full-blown trade war between the United States and China, Beijing has a more […]
Belt & Road Global Forum The Belt and Road Global Forum held its inauguration ceremony and its first annual roundtable today at the Hong Kong Convention and Exhibition Centre (HKCEC). Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), officiated the ceremony and delivered the opening remarks. The Forum is an alliance […]
Shanghai: SSE Composite Index (.SSEC) China, Hong Kong stocks track global sell-off amid trade fears SSEC -0.8 pct, CSI300 -1.1 pct, HSI -0.2 pct HK Shanghai Connect daily quota used 1.9 pct, Shanghai->HK daily quota used -0.3 pct FTSE China A50 -1.7 pct, BNY Mellon ADR China Select Index -3.9 pct China and Hong Kong […]
Shanghai: SSE Composite Index (.SSEC) China stocks reverse gains to end lower; real estate, airline shares slump Shanghai stocks lower, blue-chip CSI300 index down Gains in Shanghai stocks led by Shandong Daye and losses by NINGBO BIRD China’s A-shares at 20.21 percent premium over H-shares China stocks gave up early gains to close lower on […]
Shanghai: SSE Composite Index (.SSEC) More lock-up shares eligible for trade Lock-up shares worth about 137 billion yuan (about 21 billion U.S. dollars) will become eligible for trading on China’s bourses next week, the highest weekly market cap in June. Over 7.7 billion shares will become tradable on the Shanghai and Shenzhen stock exchanges. Under […]
Shanghai: SSE Composite Index (.SSEC) recover poise but trade war worries persist Asian markets also staged a recovery in the wake of the previous day’s sell-off. The Shanghai Composite index rallied 0.3 per cent after a 3.8 per cent slide, but failed to recover the 3,000 level it fell below on Tuesday for the first […]
USD/JPY (JPY=X) Downside Limited In USD/JPY Say Swissquote Analysts Stocks were sharply lower on Friday after the US administration announced tariffs of some $50 billion on Chinese exports in what appears to be quite steep escalation in the “trade war” between the two countries. Given the reaction in stocks, the haven Japanese Yen was surprisingly […]
SSE Composite Index (.SSEC) Falls to a 20 Month Low China’s benchmark Shanghai Composite index plumb a 20-month low, as investors worried about the economic damage from the trade tensions with the United State. Overall, the bias in prices is: Downwards. By the way, prices are vulnerable to a correction towards 3,174.22. The projected upper […]
Shanghai: SSE Composite Index (.SSEC) Composite down 0.18% China equities were lower at the close on Thursday, as losses in the Technology Hardware & Equipment, Technology and Real Estate Investments & Services sectors propelled shares lower. At the close in Shanghai, the Shanghai Composite lost 0.17%, while the SZSE Component index fell 0.76%. The biggest […]
USD/CNY (CNY=X) Surprising Rate Decision The unexpected move by the People’s Bank of China to maintain borrowing costs is a sign of confidence the yuan can withstand selling pressure, according to analysts. The PBOC on Thursday kept yuan funding costs on hold even after its U.S. counterpart pushed dollar rates higher and forecast a faster […]
SSE Composite Index (.SSEC) Shanghai Composite down 0.97% China stocks were lower after the close on Wednesday, as losses in the Software & Computer Services, Technology and Telecoms sectors led shares lower. At the close in Shanghai, the Shanghai Composite lost 0.97%, while the SZSE Component index lost 1.49%. The best performers of the session […]
SSE Composite Index (.SSEC) China Stocks Close Higher China stocks were higher after the close on Tuesday, as gains in the Telecoms, Mobile and Travel & Leisure sectors led shares higher. At the close in Shanghai, the Shanghai Composite added 0.91%, while the SZSE Component index added 1.38%. The best performers of the session on […]
USD/CNY (CNY=X) China’s new yuan loans shrink, M2 growth unchanged Chinese banks extended 1.15 trillion yuan (about 179.7 billion U.S. dollars) in new yuan-denominated loans in May, edging down from 1.18 trillion yuan in April, central bank data showed Tuesday. The figure was 40.5 billion yuan more than the same period last year, the People’s […]
Xi Jinping, general secretary of the Central Committee of the Communist Party of China (CPC), called for coordinated efforts and orderly progress in the planning and implementation of institutional reform at the central and local levels to ensure complete victory in the area. Xi, also Chinese President, Chairman of the Central Military Commission, and head […]
USD/CNY (CNY=X) Bearish Trend Overall, the bias in prices is: Sideways. The projected upper bound is: 6.35. The projected lower bound is: 6.26. The projected closing price is: 6.30. Candlesticks A black body occurred (because prices closed lower than they opened). During the past 10 bars, there have been 5 white candles and 5 black […]
USD to Continue in Downward Trend Begun Early in 2017 $USD, $CNY The financial markets got some insight into The Trump Administration’s Fx (foreign-exchange) policies. Monday, US President Donald Trump accused Russia and China of devaluing their currencies while the United States raises interest rates, prompting China to accuse the United States of sending confusing […]
USD/CNY (CNY=X) Currency Forecast and Technical Analysis Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.36. The projected lower bound is: 6.25. The projected closing price is: 6.30. Candlesticks During the past 10 bars, there have been 5 white candles and […]
USD/CNY (CNY=X) Heffx Technical Analysis Overall, the bias in prices is: Downwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.34. The projected lower bound is: 6.23. The projected closing price is: 6.29. Candlesticks A white body occurred (because prices closed higher than they opened). During the past […]
China Has Launched Its Gold-backed ‘Petroyuan’ $CNY, $USD, $USO, $OIL, $GLD For the last few years, I have been writing about China’s coming Gold-backed ‘petroyuan’ and that it was imminent, few thought is possible. On 26 March China launch an RMB Yuan-dominated Crude Oil futures contract, it had tried before, but, now the contract has gotten […]
USD/CNY (CNY=X) Consolidating Overall, the bias in prices is: Downwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.39. The projected lower bound is: 6.28. The projected closing price is: 6.34. Candlesticks During the past 10 bars, there have been 5 white candles and 2 black candles for […]
The US is Winning Currency War to Weaken Dollar $DXY, $USD, $EUR, $GBP, $CHF, $JPY, $CNY The US is winning a “cold currency war” as it seeks to weaken the USD The Buck’s nearly 12% dive since the start of Y 2017 is being fueled by fiscal and monetary policies as well as rhetoric intended […]
CNY/USD (CNYUSD=X) Consolidating Overall, the bias in prices is: Downwards. Short term: Prices are moving. Intermediate term: Prices are ranging. Note: this chart shows extraordinary price action to the downside. By the way, prices are vulnerable to a correction towards 6.49. The projected upper bound is: 6.36. The projected lower bound is: 6.27. The projected […]
USD/CNY (CNY=X) Technicals Oversold Overall, the bias in prices is: Downwards. Short term: Prices are moving. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.53. The projected upper bound is: 6.44. The projected lower bound is: 6.36. The projected closing price is: 6.40. Candlesticks A black body occurred […]
Forex Traders Embrace the SmartPhone Era $USD, $JPY, $EUR, $GBP, $CNY The world’s biggest financial market, Forex, is embracing the SmartPhone era as investors find new ways to work when they are not on the trading floor. In a JPMorgan Chase & Co. (NYSE:JPM) survey of more than 400 institutional Fx, interest rates and commodities […]
USD/CNY (CNY=X) Bullish Divergence Overall, the bias in prices is: Downwards. Short term: Prices are moving. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.56. The projected upper bound is: 6.46. The projected lower bound is: 6.38. The projected closing price is: 6.42. Candlesticks A black body occurred […]
USD/CNY (CNY=X) Bullish Divergence Overall, the bias in prices is: Downwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.56. The projected upper bound is: 6.47. The projected lower bound is: 6.39. The projected closing price is: 6.43. Candlesticks A black body occurred […]
USD/CNY (CNY=X) Bullish Divergence Overall, the bias in prices is: Downwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.57. The projected upper bound is: 6.50. The projected lower bound is: 6.42. The projected closing price is: 6.46. Candlesticks A big black candle […]
China’s yuan weakened against the US dollar on Friday, with strong corporate demand supporting the greenback but the Chinese currency is on course for its best week in more than a month. Prior to market opening, the People’s Bank of China (PBOC) set the official yuan midpoint at its strongest in six weeks at 6.5810 […]
China’s $38-T Off-Balance Sheet Items Poses Little Risk $CNY, $UBS, $MCO The Chinese finance sector’s RMB 253-T ($38-T) of off-balance sheet items pose little risk because more than two-thirds of them are relatively harmless components such as custodial funds and untapped credit-card limits, said UBS Group AG (NYSE:UBS). Despite the size of the number, a […]
US Soybean Export Council Optimistic about China-US Relationship $SOYB, $USD, $CNY The US Soybean industry is very optimistic about the future relationship with the Chinese soybean processing and utilization industries. “We expect China’s economy to grow, consumers’ income to increase and urbanization to expand,” Paul Burke, North Asia regional director of US Soybean Export Council […]
Gold and the Fall of the US Dollar $OIL, $GLD, $SLV, $USD, $CNY China, Russia, and Saudi Arabia are aligning in response to trade sanctions and political discord from the West. Together, they may bring an end to the global supremacy of America and the USD, according to analyst Peter Reagan. China, Russia, and Saudi […]
Xi Sailing BRICS’ Ship on Epic Voyage $GS, $CNY, $LNGVY, $BABA In stormy waters it is common for fishermen in Southeast China to set out to sea in groups. Each boat has its own Captain, but they will discuss fishing strategies when they return from a voyage. Over cans of beer, they argue but soon […]
China Begins Resetting The World’s Reserve Currency System $GLD, $OIL, $CNY It is a strategic move swapping Crude Oil for Gold, rather than for US Treasuries, which can be printed at will. A report released by the Nikkei Asian Review indicates that China is prepared to release a RMB Yuan denominated Crude Oil futures contract […]
China’s yuan firmed against the US dollar on Monday, buoyed by a stronger central bank guidance, but traders said further gains were likely to be restrained by corporate dollar demand this week. Prior to market opening, the People’s Bank of China set the yuan midpoint at 6.7410 per dollar, the highest since Oct. 20 2016, reflecting […]
Russia and China Setting Up to Transact Energy Business in Gold $GLD, $OIL, $USD, $CNY Russia’s largest bank, state-owned Sberbank, announced that its Swiss subsidiary had begun trading in Gold on the Shanghai Gold Exchange. Russian officials have signaled that they plan to conduct transactions with China using Gold as a means of marginalizing the […]
China’s yuan firms on stronger fixing, Q2 GDP data shrugged off China’s yuan, which has firmed against the U.S. dollar the past five sessions, strengthened again on Monday after the central bank lifted its official guidance for the Chinese currency’s midpoint to an 8-1/2 month high. The central parity rate of the Chinese currency renminbi, […]
China’s yuan weakened against the US dollar after a softer official fixing on Monday, snapping the currency’s four-day winning streak, while the launch of a bond trading scheme between China and Hong Kong had little impact on the market. The “Bond Connect” programme between China and Hong Kong kicked off on Monday, linking China’s US$9 […]
China’s yuan firmed against the dollar on Monday, supported by a stronger midpoint fix and as data pointed to more balanced supply and demand in the forex market amid Beijing’s tougher crackdown on illegal capital outflows. Traders expect more volatility for the yuan in coming months, however, amid mounting expectations that the greenback could […]
Chinese Extended 1.11 Trillion Yuan China’s yuan edged up against the dollar on Wednesday, with the market unfazed by evidence of a still-solid economy and divided over the impact of an anticipated rise in US interest rates. A small majority of traders in a Reuters poll say a US interest rate hike could prompt the […]
China’s yuan firmed slightly against the US dollar ahead of possibly tighter monetary policy at home if US interest rates rise this week. The market has turned its focus to the Federal Reserve’s two-day policy meeting that starts later on, speculating that a hike in rates there will have a spillover effect on domestic money […]
China’s yuan weakened slightly against the U.S. dollar after the central bank fixed its official guidance lower for a second straight day since it made changes to the midpoint mechanism last Friday. The People’s Bank of China set the midpoint rate <CNY=PBOC> at 6.7971 per dollar prior to market open, weaker than the previous fix […]
Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) Technical Analysis Still High Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.89. The projected upper bound is: 6.87. The projected lower bound is: 6.83. The projected closing […]
Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.89. The projected upper bound is: 6.87. The projected lower bound is: 6.83. The projected closing price is: 6.85. Candlesticks […]
Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) China and The World’s Reserves Credit Suisse has cut its forecast for the Chinese yuan as Beijing sharpens its focus on currency stability. The bank cut its 3-month forecasts for the yuan against the U.S. dollar (USDCNY) to 6.88 compared to its previous forecast of 6.98, and […]
Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) Falls China’s yuan firmed against the U.S. dollar on Wednesday after the central bank fixed its daily midpoint at the strongest level in three months, but the renminbi slid to new lows against currencies in a trade-weighted basket. official midpoint CNY=PBOC at 6.8635 per dollar prior to […]
Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) Changing Frequently China’s yuan edged up against the U.S. dollar on Tuesday after the central bank set guidance at its strongest in three weeks, but traders said corporate demand for the greenback could pressure the Chinese currency in the […]
Chinese Yuan (CN¥) ⇨ US Dollar ($) (CNYUSD) Boosting Economy Highlights *Internationalization of Chinese yuan to boost Kenya’s economy *Beijing is now one of Kenya’s top trading partners and this has raised the significance of the renminbi (RMB) *The number of banks that can provide Chinese yuan over the counter is increasing *Chinese yuan weakens […]
Chinese Yuan (CN¥) Steady Against US Dollar ($) (CNYUSD) China’s yuan was steady against the US dollar on Friday, with sentiment improving on firmer signals from the authorities and as investors trimmed bearish bets on the Chinese currency. The People’s Bank of China set the midpoint rate at 6.8884 per US dollar prior to market […]
Chinese Yuan (CN¥) Weakening Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.91. The projected lower bound is: 6.87. The projected closing price is: 6.89. Candlesticks A black body occurred (because prices closed lower than they opened). During the past 10 […]
Chinese Yuan (CN¥) Drops Under US Dollar ($) Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.92. The projected lower bound is: 6.87. The projected closing price is: 6.89. Candlesticks A big white candle occurred. This is generally considered bullish, as […]