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CNY

Chinese Yuan – Currency News

 

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

World Accounts now let your business collect funds and pay local suppliers in HKD or make payments to offshore CNY (CNH) accounts in China.

Last update: 16 May, 2019

Australian, New Zealand Dollars Rise Most on Hopes for US-China Trade Deal

The Australian and New Zealand dollar currencies have been the best performing majors in recent days. Each has gained nine-tenths of a cent against the US dollar since Thursday, with appreciation fuelled by the market’s upbeat mood towards a potential US-China trade agreement.

Last update: 26 Feb, 2019

Australian Dollar, Canadian Dollar to Outperform; Yuan at 5-Month High

The Australian dollar has rallied strongly following last Thursday’s “flash crash” and, like the Canadian dollar, is expected to outperform its peers in the near term. Investors remain willing to take on risk but the US dollar remains soft. In Asia, the yuan is expected to weaken beyond ¥7 within the next 6 months.

Last update: 11 Jan, 2019

US Dollar Strikes 18-Month High, Will Lose Value in 2019

Against a basket of currencies, the US dollar climbed on Friday to an 18-month high as investors sought safer assets in the aftermath of disappointing economic and political developments in Europe and China. Given a growing consensus for dollar weakness in 2019, now might mark an opportune moment for exchanging dollars into foreign currency.

Last update: 14 Dec, 2018

Dollar Strikes 16-Month High; Euro FX Down in the Dumps; Mexican Peso Falls Sharply

Developments outside the US allowed for the dollar to appreciate against a basket of currencies to a sixteen-month high on Wednesday. The ICE-maintained US dollar Index, which provides a weighted-mean measure of the greenback’s value against the euro, British pound, Swiss franc, Canadian dollar, Japanese yen and Swedish krona, traded above 97.0 for the second […]

Last update: 31 Oct, 2018

Yuan Reaches New Low as Slowdown and Tariffs Bite; 7.0 to the Dollar Likely Next Year

Friday saw the Chinese yuan strike a 21-month low against the dollar of 6.941. A move to and perhaps through 7.0 to the dollar, which remains a symbolic level for many, now seems likely within the next year.

Last update: 20 Oct, 2018

Yuan Finds Stability After PBOC Policy Change

The Chinese yuan posted its highest open in 4 ½-weeks on Monday, at a rate of 6.803 to the dollar. Stability in the rapidly falling yuan follows the reintroduction of the “counter-cyclical factor” by the People’s Bank of China on Friday – a sign that Chinese authorities are uncomfortable with further depreciation.

Last update: 27 Aug, 2018

US Dollar on the March; Markets Yet to Price in Full Extent of Fed Hikes, Says SEB

The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.

Last update: 2 Aug, 2018

Yen Is Star Performer, Yuan Devalued and Bitcoin Finds a Bottom

The Japanese yen has been the star performer of recent days and by Monday afternoon in London it was once again trading higher against most of the world’s currencies. When last seen, USD/JPY stood at 111.

Last update: 7 Sep, 2018

Yuan and Australian Dollar Hit by Latest Round of US Tariffs

Traders offloaded Chinese yuan and Australian dollars on Wednesday after the US government said it would introduce 10 percent tariffs on a further $200 billion worth of Chinese goods.

Last update: 11 Jul, 2018

Ruble and Rand Best Performers During Busy Week for Emerging Market FX

It was a busy week for financial markets; one in which central banks disappointed, entire countries were in crisis, new leaders were elected, commodities thrived and Trump reimposed sanctions on Iran. With that said, emerging market currencies were erratic last week, and generally lost value, none more so than the Argentine peso which fell on […]

Last update: 2 Jun, 2018

Yuan at Strongest Since 2015, Suggestive of Chinese Bid to Avert a Trade War

In both onshore and offshore markets, the Chinese yuan climbed in the past week to its highest level against the dollar since the summer of 2015, and in doing so, posted its largest quarterly gain in a decade – a gain of 3.7%. Now worth 6.27 per dollar, the yuan’s rise is the result of […]

Last update: 28 May, 2018

BER-News: Bitcoin below $US10K mark (again)

Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week.   Last week: majors all down   Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]

Last update: 5 Jun, 2018

Chinese Yuan Best of the Week and More Appreciation to Come, Predicts SEB

Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week. As of 7:30pm in Singapore (GMT+8), the yuan’s marginal 0.2% appreciation for the week to 6.331 per US dollar was enough to seal top spot, with the dollar itself […]

Last update: 28 May, 2018

Markets Upbeat Ahead of FOMC and Trump Decision; Korean Won Best in Asia-Pac

Ahead of major announcements in the coming days, investors were in surprisingly good spirits on Wednesday, indicated by a stronger New Zealand dollar, won, rupee and a faltering yen. Weakness in Asia-Pac FX would have been forgiven ahead of Thursday’s announcements by the FOMC (Wednesday in the US and Europe), Bank of England and Donald […]

Last update: 28 May, 2018

Asia-Pac Currencies Make Waves Against Euro After ECB Extends Asset Purchases

Currencies in the Asia-Pacific region made sweeping gains against the euro on Thursday night after the European Central Bank announced a cautious approach to the removal of monetary stimulus. Further to a zero percent interest rate, the ECB is currently buying €60 billion worth of assets (bonds) each month, with the goal of keeping eurozone […]

Last update: 28 May, 2018

Yen Unmoved by Exports and NZD Slumps Ahead of Decision on New Zealand’s Future Government

For Asia-Pac currencies, Thursday’s session was dominated by political nervousness in New Zealand and a busy economic calendar. In terms of data, Japan kicked things off a little before 9am in Tokyo with the country’s latest trade figures. Export growth of 14.1% in the year to September matched market expectations, more or less. Exports have […]

Last update: 28 May, 2018

A Higher Australian Dollar Poses No Problems for Exporters, Says Treasurer

Australian Treasurer Scott Morrison expressed no discomfort with the current valuation of the Australian dollar this weekend. In an interview with Bloomberg TV, Morrison said that Australian exporters had adapted to a currency that was now 9.3% higher against the US dollar ($0.7873) and nearly 4% higher against the Chinese yuan (¥ 5.1954) than it […]

Last update: 28 May, 2018

The Week Ahead for Asia FX

The week ahead should be an interesting one for Asian financial markets, with the highlights being China’s 19th National Congress, the latest numbers for Chinese economic growth, the Bank of Korea’s monetary policy meeting and Japanese trade data. Further to that, and to the events outlined below, investors should look with care to Federal Reserve […]

Last update: 28 May, 2018

Asia-Pac Gains as Risk Appetite Returns

With the unsurprising exception of the Philippine peso – Asia’s worst performing currency of the year – Asia-Pac’s most actively traded currencies made gains against the US dollar on Tuesday. Although limited, gains were somewhat easy to come by as risk appetite returned after the President of Catalonia, Carles Puigdemont, held off on formally declaring […]

Last update: 28 May, 2018

Australian Dollar Has Tough Day; Will Go Easy Ahead of US Payrolls Data

It’s been a tough twenty-four hours for the Australian dollar. The “Aussie” was hammered after Thursday’s woeful retail sales data, which showed that sales declined in August by 0.6% – the biggest fall in four years. To add insult to injury, previously released data for July was revised down to -0.2%, from 0.0%. AUD/USD has […]

Last update: 28 May, 2018

Asia-Pac Takes a Hit as Fed Sticks to Guns on Rate Hike, Balance Sheet Normalization

Currencies in the Asia-Pacific region fell against the US dollar on Thursday morning after the Federal Reserve signaled that it would raise interest rates again this year and would begin shrinking its balance sheet in October. The Fed funds rate was left unchanged at its current range of 1–1.25%. Although the majority of economists had […]

Last update: 4 Jun, 2018

Venezuela Ditches the Dollar, Begins Pricing Oil in Yuan

In retaliation to US sanctions, in its latest weekly report Venezuela’s oil ministry has published prices for the country’s petroleum products in Chinese yuan, rather than US dollars. One barrel of Venezuelan oil will now cost buyers CNY 306.26 – equivalent to USD 46.76. Venezuela has the largest proven oil reserves in the world, at 300 […]

Last update: 5 Dec, 2018

So Much for Currency Manipulation, Yuan at 21-Month High Amid Dollar Bloodbath

So much for currency manipulation. The Chinese yuan surged against the US dollar on Thursday, forcing USD/CNY below 6.45 for the first time since December 2015. The dollar had fetched as many as 6.96 yuan in January. The yuan has started September extremely brightly, picking up where August left off. With only five trading days […]

Last update: 28 May, 2018

Data Fails to Lift AsiaPac Currencies

A better than expected Chinese manufacturing PMI failed to lift the yuan or Australian dollar on Thursday morning against a US dollar determined to end the month in the green. The Chinese PMI for the manufacturing sector came in at 51.7 for August, slightly ahead of the market forecast of 51.3 and July’s reading of […]

Last update: 28 May, 2018

Geopolitics Take Centre Stage, Gives Lift to Yen but US Dollar Remains on the Ropes

Investors fled to the safety of gold, government bonds and the Japanese yen on Tuesday as geopolitics took centre stage. After North Korea fired a missile over Japan, money flooded into gold, which rallied to a nine-month high of $1,325, and into yen, which strengthened to the low 108s against the dollar. Prices for Treasuries, […]

Last update: 28 May, 2018

Korean Won Leads Asian Currencies Higher

Most Asian currencies ended Wednesday higher against the dollar, albeit on a rather unspectacular day of trading. With a few exceptions, markets traded quietly ahead of the Jackson Hole symposium (24-26 August) at which Fed Chairwoman Janet Yellen and ECB President Mario Draghi might give important updates on monetary policy. The star of the day […]

Last update: 28 May, 2018

Little Chance of Another US Rate Hike This Year as CPI Disappoints Again

The implied probability of a further hike in US interest rates this year declined on Friday to 35%, down from probabilities above 40% one day earlier. This fairly drastic adjustment in market expectations for US rates occurred following inflation data which, remarkably, came in below market expectations for the fifth consecutive month. The US dollar […]

Last update: 28 May, 2018

Drama in Asia as the Yuan Spikes to 10-Month High Amid Speculation of a Wider Trading Band

Tuesday’s Asian session was stirred by a surprise surge in the Chinese yuan. Starting around 9:30am in Beijing, the yuan began rallying strongly against the dollar, with offshore rates declining (the yuan strengthening) to 6.7024 by 1pm, from rates earlier in the session around 6.73. Onshore yuan easily broke the 6.7 level and as of writing […]

Last update: 28 May, 2018

Yuan and Yen Valuations Currently on Point, Says IMF

The IMF said on Friday that the current valuations of the Chinese yuan and Japanese yen are broadly consistent with fundamentals. In its latest External Sector Report – a yearly assessment of currency valuations as they relate to each country’s current account balance, external balance sheet, capital flows and reserves – the IMF said that […]

Last update: 28 May, 2018

China Data Doesn’t Inspire

China released a series of better-than expected economic reports that were viewed with a jaundiced eye by traders.  China Q2 GDP rose to 6.9 % a tick higher than the 6.8% that was expected. Industrial Production was a robust 7.6%, well-above the 8.5% that was forecast. However, the quality of the data is questionable as […]

Last update: 21 May, 2018

Surge in China’s Currency to 7-Month Highs Has Unknown Cause

China’s yuan was Asia’s best performing currency in May. Offshore yuan, which is traded in international financial centres like Hong Kong, Singapore and London, rose 2.3% against the US dollar during the month. And yesterday, the first trading day in June, the yuan rallied again, making further gains of 0.3% and forcing the dollar-to-yuan exchange […]

Last update: 28 May, 2018

Moody’s Downgrades China Debt, Adds Another Weight onto Australian Dollar

The Australian dollar has fallen this morning following a downgrade of China’s debt rating by US ratings agency Moody’s. The giant Asian nation has been assigned a new rating of A1 (from Aa3) by the agency on the grounds that its “financial strength will erode somewhat over the coming years.” It is the first time […]

Last update: 28 May, 2018

A Decline in New Zealand Dollar Likely as RBNZ Disappoint, Still Sees No Rate Hike Until 2019

The New Zealand dollar has fallen more than a cent against the US dollar following this morning’s RBNZ statement. As expected by the market, New Zealand’s official cash rate was kept at its record low of 1.75%, but the dovish tone of the RBNZ’s accompanying statements has surprised many. “Monetary policy will remain accommodative for […]

Last update: 28 May, 2018

Scotiabank: Four Conditions for Asian Currency Appreciation in 2017

On Friday, Scotiabank – otherwise known as the Bank of Nova Scotia – outlined four factors that would drive Asian currencies higher in 2017. Investors would “pour funds” into Asian markets on the following grounds:   1)   If the Bank of Japan and European Central Bank continue with their stimulus programs, providing “accommodative” levels […]

Last update: 28 May, 2018

Malaysian Ringgit Outlook: Has It Turned a Corner?

The Malaysian ringgit has been one of Asia’s worst performing currencies for some time. Between May-2013 and September-2015 the exchange rate for MYR/USD declined from highs at 0.338 to 0.223 – a 34% fall in the currency’s value. Markets gave the ringgit some respite between October-15 and April-16, a period in which the ringgit clawed […]

Last update: 28 May, 2018

Dollar Plays Catch Up, European Elections to Begin and Pleasant Surprises on China Data

The US dollar has started the week lower against most currencies as traders play catch up following market holidays on Friday. In Friday’s market update at BestExchangeRates.com, we described how March’s US core inflation fell month-on-month for the first time in seven years, but with many investors away for the Good Friday holiday, we also […]

Last update: 28 May, 2018

Philippine Peso Starts Q2 with a Bang

In recent days, the Philippine peso has done what other Asian currencies were unable to, and that’s to make gains against the US dollar in an environment of heightened geopolitical risk – an environment normally associated with a sell-off in emerging market currencies. The peso gained again on Monday following up on its superb performance […]

Last update: 28 May, 2018

Is an Australian Dollar Reversal on the Cards?

The Australian dollar has had a tough couple of weeks. Yesterday, against the U.S. dollar the Aussie finished the FX session down for the third consecutive day (its eighth daily fall in the past ten trading days). As of writing, AUD/USD is down again in Tuesday’s Asian session, trading at 0.7591, marking a 2% fall […]

Last update: 21 May, 2018

Traveling in China

Travel Tips and Ways to Save Money when Traveling in China. China. China’s international visitors have rocketed to an impressive 26 million in 2015. It is said that in less than 10 years, the country will become the first tourist destination with the world’s largest number of visitors. Credit cards are still not accepted in […]

Last update: 3 May, 2019

Australia Week in China Trade Delegation

BestExchangeRates was selected as a delegate for the Australia Week in China (AWIC) trade delegation to China with Prime Minister Malcolm Turnbull in April 2016. AWIC 2016 was the largest business mission ever organised by Austrade consisting of almost 1000 delegates from around 750 companies. AWIC 2016 focussed on forging business linkages, building the bilateral […]

Last update: 26 Nov, 2018

December is a given, after is a puzzle

Dovish hike is coming The US dollar is on the back foot this morning as markets have begun to look past what will take place at the Federal Reserve’s meeting on December 16th and have now moved to focus on the shift in policy that will occur in the coming years i.e. how quickly subsequent […]

Last update: 6 Jun, 2018

Macro Horizons: As Yuan Keeps Rising, World Owes China Thanks

The Wall Street Journal.: Macro Horizons: As Yuan Keeps Rising, World Owes China Thanks. http://google.com/newsstand/s/CBIw15miliI

Last update: 6 Jun, 2018

Less Chinese Immigrant Investor Applications after ‘You Hui Tong’ Suspension

Immigrant Investor Programs (IIP) are set up by countries to attract foreign capital and business people by providing the right of residence and citizenship in return. In the US, the EB5 investor program is one such Immigrant Investor programs. This program requires overseas applicants to invest anywhere from US $500,000 to US $1 million, depending […]

Last update: 6 Jun, 2018

What global jitters mean for the Aussie Dollar?

We first heard rumblings of discontent from leaders of emerging market economies around the middle of last year when it looked as though the US was about to commence tapering quantitative easing. These rumblings are likely to get a whole lot louder this time around though, as the impact of US policy starts to bite […]

Last update: 21 May, 2018

Renminbi: Currency of the moment creates a stir

Hong Kong may have pegged its currency to the US dollar, but the renminbi is flavour of the year as the territory pushes for stocks, bonds and other financial products denominated in the mainland currency.   Financial groups are rushing to take advantage of key reforms introduced by China in July, which liberalised the flow […]

Last update: 6 Jun, 2018

Asian Summary; AUD/USD Fresh High On Rosy Data

The EUR/USD is at 1.4158 from 1.4127 in late NY trade Wednesday, the EUR/JPY is at 116.96 from 117.09 and the USD/JPY is at 82.59 from 82.89. The AUD/USD touched a fresh post-float high of 1.0343 after Australian February retail sales rose 0.5% on-month seasonally adjusted, vs +0.4% expected and January’s +0.4%; February private-sector credit […]

Last update: 21 May, 2018

Asia Closing Highlights

10 December 2010 Charlie Lay, Joanna Tan, Radhika Rao, Gregory See ASIA NEWS – China: Nov M2 growth remained firm at 19.5% y/y from 19.3% in Oct. M1 growth was unchanged from Oct at 22.1% y/y. As for Nov new loans growth of another robust number at CNY564bn from CNY588bn in Oct, there are few […]

Last update: 21 May, 2018

AUD/USD update

The Aussie dollar fell 0.71% against the US dollar to $0.9910 this morning, on speculation that China may raise interest rates to tame inflation. The Shanghai composite index plunged 5.2% in early morning trading, as monetary tightening in China risks stifling growth in the world’s second largest economy. With Australia so dependent on the export […]

Last update: 21 May, 2018

FT.com: Chinese inflation jumps, boosting the RMB

FT.com: We were already looking for more rate hikes from the PBoC – now it surely looks like a certainty. Today, data out of China showed inflation hitting a 25-month high of 4.4 per cent, a jump up from 3.6 per cent in the previous month, and much higher than the stated annual target of […]

Last update: 6 Jun, 2018

AUD/USD plummets as China rises rates

FXstreet.com (Córdoba) – The Dollar jumped across the board following the announcement of the central bank of China to rise rates. AUD/USD collapsed from 0.9890 to 0.9775 in less than an hour. The pair trades near the bottom at the lowest level in a week. Greenback also rose sharply against the Loonie and the Kiwi, […]

Last update: 21 May, 2018

Trying to stem dollar’s rise is asking for trouble

Here we go again. As the Australian dollar prepares to punch through parity, the usual howls of protest about the damaging effects on our rural exports already have begun. The worry, however, is that the misinformed howls are emanating from the alternative government and, given the tenuous political position of the Gillard government, from those […]

Last update: 21 May, 2018

Finance Chiefs Fail to Resolve Currency Spat as G-20 Splits; turn to the IMF

Leaders of the world economy failed to narrow differences over currencies as they turned to the International Monetary Fund to calm frictions that are already sparking protectionism. “Policy makers seemed to be trying to diminish concerns about currency wars,” said Steven Englander, head of Group of 10 currency strategy at Citigroup Inc. in New York. […]

Last update: 6 Jun, 2018

China says no one-off currency change

The central bank spokesman said authorities had to maintain control over “exchange rate fluctuations,” signalling that policymakers planned to keep a tight grip on the value of the currency and not let it appreciate quickly. Read article at smh

Posted: 20 Jun, 2010

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