The USD to CNY trading pair trades flat in sessions after news from China’s foreign exchange reserve broke out. The looming uncertainties from the US-Sino trade war also prevented the pair from rallying. Beijing’s foreign exchange reserve dropped last month after three consecutive months of gains. According to a regulator, China’s forex reserve drop was …
USD to CNY Trades Flat After Yuan’s Reserve Fell | Wibest Read More »
United States President Donald Trump agreed to delay the sanctions on over $250 billion worth of Chinese goods. The US president’s order will take effect for two weeks, starting on October 1 to 15. President Trump said on Wednesday that the suspension is a gesture of goodwill towards China. Trump said the postponement was a …
The USD to CNY trading pair went down yesterday as the People’s Bank of China takes measures to support the Chinese economy. The yuan received support after the PBOC said that it will start reducing its RRR (reserve requirement ratio) this month. The USD to CNY trading pair contracted by 0.20%, or 0.0143, points …
News from the People’s Bank of China caused the USD to the CNY exchange rate to contract in today’s trading. The PBOC said that it is reducing its RRR (or reserve requirement ratio) for Banks on September 16 by 50 basis points. The decision of the People’s Bank of China is meant to attract more …
Hong Kong Chief Executive Carrie Lam said that more violence will not solve the problems encountered by the nation. Lam appeared in a press conference on Tuesday, days after the withdrawal of the Extradition Bill. The Hong Kong politician also warned officials from the United States not to interfere with the problems regarding the territory. …
Hong Kong Chief Executive Says No to Violence | Wibest Read More »
The Chinese Caixin General Manufacturing PMI reached an impressive 50.4 in August. The data shocked the whole market as the whole Chinese manufacturing sector continues to receive blows from Trump’s tariffs. The data went way higher than the expected 49.9 of analyst and the previous reading of 49.8 last month. The August data is the …
On Wednesday, petroleum products prices inched up. It is with U.S. crude advancing 1.3% after an industry report showed stockpiles in the United States. This is the world’s biggest oil user that dropped more than expected, easing fears about economic growth due to the China-U.S. trade conflict. Brent crude futures mounted 59 cents, or 1.0%, …
Petroleum Products Price Upsurges as Economic Fears Eases Read More »
On Monday, oil prices were dragged down in Asia. This was due to the persisting announcement of an additional 5% tariff by China on $75 billion of U.S. products. Crude oil is included on the U.S. products that were on the list of tariffs. In revenge, U.S. President Donald Trump indicated he ordered U.S. companies …
Oil Prices Decline as US-China Tariff Conflict Endures Read More »
The Chinese government said on Thursday that it hopes that the United States will stop enforcing its unjust tariffs. Beijing said that if the new levies will push through, the conflict may further escalate. The spokesperson from the Ministry of Commerce, Gao Feng, held a briefing with reporters on Thursday morning. According to him, if …
Chinese Gov’t Warns to Retaliate Against US Tariffs Read More »
The yuan started yesterday’s session on the edge against the US dollar. However, it made a slight comeback in the later sessions. Analysts have largely expected the yuan’s recovery, and its weakness was traced to the announcement of the People’s Bank of China (or PBOC). The CNYUSD trading pair slipped by 0.04%, or 0.0001, points …
The Chinese yuan continues to weaken in today’s trading after the People’s Bank of China announced their new benchmark. The yuan remains on edge against the US dollar in Wednesday’s session. The CNYUSD trading pair gained 0.16%, or 0.0002 points. The pair currently trades around $0.1417 against its last close of $0.1415 and has reached …
On Tuesday, petroleum products’ prices curved in slightly. It was after the prior surge, as the pause of news on the U.S.-China trade front kept big moves in check. Meanwhile, markets also prepared for weekly data on U.S. crude inventories. New York-traded West Texas Intermediate crude futures plunged 9 cents, or 0.2%, to $56.05 a barrel. Brent crude futures, …
Petroleum Products Downtrends Ahead of Crude Inventories Read More »
Japan’s currency receives much attention from traders as the possibility of a global recession looms. The Japanese yen gained strength as traders focus on safe haven assets. The recent news about the United States Treasury yields bolstered the yen in past trading sessions. Analysts are blaming the prolonged trade war between US and China for …
The Japanese yen remains in green territories against major currencies in today’s trading. The JPY received support from the slipping treasury yields that worried traders for the downward run of the global economy. As investors turn to safe haven such as precious metals and the yen, the Japanese currency gets stronger. The USD to JPY …
On Wednesday in Asia, gold prices plunged on global trading. It was after the U.S.’s decision to postpone the tariffs on certain Chinese goods. It has eased the tension between the two sides and dented demand for the safe-haven metal. December delivery of gold futures traded on the Comex division of the New York Mercantile …
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