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Latest Finance News related to Chinese Currency

China sees first monthly trade deficit in three years image
Source : BBC [Read Article] Wednesday 8th of March 2017 09:19:40 AM
....China's trade balance was thrust back into the spotlight by Donald Trump during the US presidential election campaign. He ramped up his protectionist rhetoric accusing Beijing of not giving US firms access to key Chinese markets, and of making it impossible for US firms to compete with Chinese imports because the value of the Chinese currency was kept artificially low. ...
Trump could end global trade and force choice between US and China, says economist image
....He said Australia, with cultural ties to the United States and economic ties to Asia, might eventually have to choose. There was no currency to rival the US dollar in Asia as yet, he said, but if Australia chose to enter an Asian trade bloc based on Chinese currency, even if it could work without the US dollar to cement it, over time that would have potential political implications. ...
China's economic concerns mount as thousands gather for congress image
Source : Guardian [Read Article] Friday 3rd of March 2017 06:26:46 AM
....9 per dollar level for the first time in one-and-a-half months, as the greenback continued to gain momentum on expectations of higher US interest rates. Pressure on the Chinese currency was due to growing expectations the Federal Reserve could raise rates as early as this month after a solid run of US economic data and policymakers hinting a rate rise would be appropriate soon. ...
Bitcoin tops $1,000 for first time in three years as 2017 trading begins image
....The nascent digital currency, which has been criticised as a vehicle for a range of nefarious characters from drug dealers to tax evaders to operate, outperformed all its central-bank-issued counterparts with a 125% climb in value in 2016. Market watchers have suggested that the soaring value may have been boosted in the past year by increased demand in China on the back of a 7% fall in the value of the yuan; this was the Chinese currency’s weakest annual performance in more than 20 years. ...
Bitcoin enjoys end of year price surge image
Source : BBC [Read Article] Friday 23rd of December 2016 12:16:42 PM
....Experts said the rise in value was linked to the long-term depreciation of the Chinese Yuan. The Chinese currency has dropped about 7% in value during 2016, said Reuters. ...
Poundland to start selling clothing – but for more than £1 image
Source : Guardian [Read Article] Friday 16th of December 2016 05:50:20 PM
....Bond said Poundland had taken out insurance against its exposure to the dollar well into next year and there were factors at work in the global economy that may help to offset the 15% fall in the value of the pound since June. “The Chinese currency has moved so you can negotiate better cost prices in China while Chinese industry is not having the best of times so there is extra capacity and that can also make things easier,” Bond said. ...
Could Trump's chest-thumping over China trigger a trade war? image
Source : Guardian [Read Article] Saturday 10th of December 2016 10:00:11 AM
.... He can’t just get into the White House and the next day announce a tariff increase, it wouldn’t look good,” said Pei. Allegations of Chinese currency manipulation are out of date and largely incorrect, according to Pei. ...
George Soros warns Britain leaving could be end of EU image
Source : Guardian [Read Article] Thursday 9th of June 2016 04:50:27 PM
....Soros, who made $1bn when his 1992 currency bet forced John Major’s government into a humiliating devaluation and led to sterling dropping out of the exchange rate mechanism, said an EU breakup was another threat to global stability along with concerns over the Chinese economy and a Trump presidency. In recent months the currency speculator has bet that a devaluation of the Chinese currency, the yuan, was inevitable, earning himself a rebuke from the Beijing authorities. ...
China's HNA to buy Swiss catering firm image
Source : BBC [Read Article] Tuesday 12th of April 2016 06:50:47 AM
....As China's economy slows down, big corporate honchos are looking to hedge their bets by placing their funds outside of China. The Chinese currency, the yuan, has been on a weakening trend recently, partly as a result of what many see as a deliberate move by China to allow its currency to weaken so as to boost exports. ...
Stock markets rally at the end of a traumatic week image
Source : Guardian [Read Article] Friday 12th of February 2016 06:57:55 PM
....“However, equity markets don’t seem particularly interested unfortunately and the longer that this goes on the greater the risk that it feeds negatively into the real economy through weaker sentiment and tighter financial conditions,” he said. Nancy Curtin, chief investment officer at Close Brothers Asset Management, said the health of the US economy depended on how well it could weather the global risks in the long term, especially a devaluation of the Chinese currency that would make US exports more expensive. ...
Don’t blame China for these global economic jitters | Ha-Joon Chang image
Source : Guardian [Read Article] Thursday 21st of January 2016 08:00:16 PM
....Those who put forward the narrative are now trying to blame China in advance for the coming economic woes. George Osborne has been at the forefront, warning this month of a “dangerous cocktail of new threats” in which the devaluation of the Chinese currency and the fall in oil prices (both in large part due to China’s economic slowdown) figured most prominently. ...
Fears grow of repeat of 2008 financial crash as investors run for cover image
Source : Guardian [Read Article] Wednesday 20th of January 2016 08:11:09 PM
....The BIS was one of the few organisations to warn during 2006 and 2007 about the unstable levels of bank lending that eventually led to the Lehman Brothers crash. Concerns that the global recovery could be derailed began last summer when a devaluation of the Chinese currency sparked a meltdown on the Shanghai stock exchange. ...
Task force meets to help steelworkers image
Source : BBC [Read Article] Wednesday 20th of January 2016 05:13:46 AM
....David Cameron has rejected criticism that his ministers put bankers before Welsh manufacturing workers. Plaid Cymru MP Jonathan Edwards accused the UK government of being a "cheerleader" for China to be awarded World Trade Organization Market Economy Status (MES), because it wants the City of London to become a major trading centre for the Chinese currency. ...
Beware the great 2016 financial crisis, warns leading City pessimist image
Source : Guardian [Read Article] Tuesday 12th of January 2016 07:25:08 PM
.... The FTSE 100 index rose by 57 points to close at 5,929, while the Dow Jones Industrial Average was up by 10 points in early trading in New York. The mood in equity markets was helped by intervention by the People’s Bank of China overnight to support the yuan, with the Chinese currency moving higher on foreign exchange markets. ...
Oil price falls fail to dent US shares image
Source : BBC [Read Article] Monday 11th of January 2016 10:00:33 PM
....Chevron and ExxonMobil were among the biggest fallers. As well as renewed volatility on Chinese markets - which closed down 5% on Monday - further fears over the direction of the Chinese currency also spooked investors. ...
Chinese shares post steep losses image
Source : BBC [Read Article] Monday 11th of January 2016 01:48:41 AM
....5. Investors are keeping a close eye on movements in the Chinese currency, which is managed by the government. ...
China’s giant threat to global financial stability image
Source : Telegraph [Read Article] Saturday 9th of January 2016 08:49:08 PM
.... You may wonder why these Far Eastern traumas matter to Britain, less than 6pc of whose exports go to China. You may also wonder why we are worrying about defence of the Chinese currency at all when China still has $3. ...
Is China really devaluing its currency? image
Source : Telegraph [Read Article] Thursday 7th of January 2016 12:30:26 PM
FTSE rallies as US Federal reserve raises interest rates for the first time since 2008 image
....The governor has repeatedly stated that rate rises are a "possibility and not a certainty" and that a decision from the Monetary Policy Committee "will likely come into sharper relief around the turn of the year". He added on Tuesday that global events including falling oil prices and the Chinese currency devaluation have dramatically changed the situation since the summer. ...
Asian stock markets drop as China devaluation, oil and Fed stoke fears image
Source : Guardian [Read Article] Monday 14th of December 2015 04:41:39 AM
. Asian stocks have fallen sharply and the Chinese currency hit fresh four-year lows as concern about crude oil prices and an expected US rate rise by the Federal Reserve later this week kept investors on edge. ...
IMF makes Chinese yuan reserve currency in historic move image
Source : Telegraph [Read Article] Sunday 29th of November 2015 04:30:54 PM
. The International Monetary Fund has given the yuan a historic vote of confidence by including the Chinese currency in its elite club of major currencies. ...
China cuts key interest rate to 4.35% image
Source : BBC [Read Article] Friday 23rd of October 2015 01:03:39 PM
....European shares gained ground following the decision, particularly in the mining sector, and commodities rose. The Chinese central bank also cut the ratio of Chinese currency that it expects its banks to hold. ...
Will China's slowdown be a bumpy ride? image
Source : BBC [Read Article] Saturday 17th of October 2015 11:09:24 PM
....Meanwhile, the Chancellor of the Exchequer, George Osborne, wants to deepen the UK's commercial relationship with China. Back in 2013 he took steps to encourage trading of the Chinese currency in London. ...
UK-China stocks link plan unveiled image
Source : BBC [Read Article] Tuesday 22nd of September 2015 06:39:21 AM
....Reports suggest one such reactor could be built at Bradwell-on-Sea in Essex. In other measures announced on Monday, it emerged that the People's Bank of China is to issue short-term bonds in London denominated in the Chinese currency, the first time it has done so outside China. ...
China will not start currency war, insists premier image
Source : Telegraph [Read Article] Wednesday 9th of September 2015 02:01:15 PM
.... . "We don't wish to boost our exports by devaluing the Chinese currency . ...
China's impossible trinity image
Source : BBC [Read Article] Monday 7th of September 2015 11:59:07 PM
....Domestically, a weaker currency would tighten financial conditions for any Chinese company that has borrowed in dollars at a time when the PBOC was trying to ease them. But the international spill-overs of a weaker Chinese currency matter more. ...
Stock markets surge for second day running after Black Monday losses image
Source : Guardian [Read Article] Friday 28th of August 2015 12:05:06 AM
.... The prospect of cheaper credit lasting possibly into next year cheered stock markets that had previously predicted a rate rise following the Federal Reserve’s meeting next month. Analysts remained divided over what would be the next phase in the stockmarket saga that started two weeks ago after a surprise devaluation of the Chinese currency. ...
US shares end choppy day with big jump image
Source : BBC [Read Article] Wednesday 26th of August 2015 10:37:17 AM
....Because if share-price gains could not hold after the significant monetary easing by China's central bank, then mistrust about the true state of the world's second largest economy (actually the number-one economy on the purchasing-power-parity measure of GDP) has become very pronounced indeed. And another thing, the Chinese interest rate cuts will exacerbate the phenomenon that has caused so much stress in so many different global markets, from commodities, to foreign exchange, to stocks and bond - the fall in the Chinese currency, the RMB, since it was allowed by Beijing to float more freely on 11 August. ...
Stock market crisis: FTSE 100 sinks AGAIN to lose £26billion as China panic continues image
.... In April the FTSE 100 hit a top value of 7122, while the Shanghai Composite has now lost almost half of its worth since reaching record levels in June. The current sell-offs have been triggered by worries that the Chinese economy is slowing, which were heightened when the Beijing government devalued the Chinese currency a couple of weeks ago. ...
China shares fall despite rate cut image
Source : BBC [Read Article] Wednesday 26th of August 2015 12:56:10 AM
....Because if share-price gains could not hold after the significant monetary easing by China's central bank, then mistrust about the true state of the world's second largest economy (actually the number-one economy on the purchasing-power-parity measure of GDP) has become very pronounced indeed. And another thing, the Chinese interest rate cuts will exacerbate the phenomenon that has caused so much stress in so many different global markets, from commodities, to foreign exchange, to stocks and bond - the fall in the Chinese currency, the RMB, since it was allowed by Beijing to float more freely on 11 August. ...
Black Monday turns to even worse Tuesday in China - but London's FTSE 100 recovers image
.... In April the FTSE 100 hit a top value of 7122, whiel the Shanghai Composite has now lost almost half of its value since reaching record levels in June. The current sell-offs have been triggered by fears over the growth of the Chinese economy, which were heightened when the Beijing government devalued the Chinese currency a couple of weeks ago. ...
The six Cs of the China stock slump image
Source : BBC [Read Article] Tuesday 25th of August 2015 08:02:59 AM
.... . Unlike most currencies, the Chinese currency is not allowed to trade freely according to the number of buyers and sellers in international markets. ...
Stock markets plunge on China fears image
Source : BBC [Read Article] Monday 24th of August 2015 07:29:51 AM
....Earlier this month, the Chinese central bank devalued the yuan in an attempt to boost exports. European investors worry that a cheaper Chinese currency will make European exports less competitive. ...
Markets live: FTSE bounces back as China injects fresh stimulus after stocks crash in country's 'Black Tuesday' image
.... . Touching upon some of the factors affecting markets at the moment, Lockhart made mention of the strong Dollar, tumbling oil prices and the devaluation of the Chinese currency as ‘complicating factors in predicting the pace of growth’. ...
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Record capital flight from China as industrial slump drags on image
Source : Telegraph [Read Article] Friday 21st of August 2015 07:12:09 PM
. Capital outflows from China have surged to $190bn over the last seven weeks, forcing the authorities to intervene on an unprecedented scale to defend the Chinese currency. ...
New China stock market plunge prompts global jitters image
Source : Guardian [Read Article] Tuesday 18th of August 2015 10:34:08 AM
....Related: Why has China devalued its currency and what impact will it have?. China’s surprise move last week to devalue the yuan is expected to aid Chinese exports and help make the Chinese currency more responsive to market forecasts. ...
China to continue market support image
Source : BBC [Read Article] Friday 14th of August 2015 01:51:28 AM
.... . The Chinese currency is important to Australia, as China is the main export market for the country's natural resources. ...
Kipper Williams on Chinese currency movements image
Source : Guardian [Read Article] Thursday 13th of August 2015 07:48:01 AM
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Chinese economy shockwaves: the winners and losers image
Source : Guardian [Read Article] Wednesday 12th of August 2015 04:19:15 PM
....SwatchA third of the Swiss watchmaker’s sales are in mainland China. But even though its share price has fallen since the depreciation of the Chinese currency began on Tuesday, the Swiss company said the move will prove positive in the end. ...
China's currency devaluation could spark 'tidal wave of deflation' image
Source : Guardian [Read Article] Wednesday 12th of August 2015 02:08:46 PM
....Second, and slightly less reassuring, is the idea that China is trying to buy itself a bit of insurance against a coming Fed rate rise. Pegging the Chinese currency against the dollar has become increasingly costly, with the dollar up as much as 21% against other global currencies since spring of last year, and although China’s foreign exchange reserves remain vast, the central bank has been forced to dip into them to support the currency. ...
The yuan devaluation's global impact image
Source : BBC [Read Article] Wednesday 12th of August 2015 12:22:07 PM
....Nigeria believed that looking east would help protect the local currency, the naira, against the volatility of oil prices set in dollars. Later on Kenya, whose port is a major gateway for Chinese goods, announced plans to set up a clearing house for the Chinese currency. ...
Markets rocked as China's renminbi tumbles to four-year low image
Source : Telegraph [Read Article] Wednesday 12th of August 2015 08:32:55 AM
.... It was the second biggest one-day cut since the country abandoned its hard currency peg in 2005. Offshore trading, which is not restricted by the PBoC’s fixed daily band, saw Chinese currency weaken 1. ...
China stuns financial markets by devaluing yuan for second day running image
Source : Guardian [Read Article] Wednesday 12th of August 2015 03:20:21 AM
....There were widespread losses in Asia, and in Europe stock markets suffered falls of about 1%, with the FTSE 100 tumbling almost 2% at one stage. The Chinese currency hit a four-year low on Wednesday after the People’s Bank of China set the yuan’s daily midpoint even weaker than in Tuesday’s devaluation. ...
Chinese yuan: everything depends on what happens next image
Source : Guardian [Read Article] Tuesday 11th of August 2015 06:45:01 PM
.... The People’s Bank of China described the move as a “one-off” and presented its decision as part of the five-year plan to allow more liberal winds to blow in China’s markets. Investors had thought the yuan should be lower against the surging US dollar; now it will be and, in future, market forces will play a greater role in fixing the value of the Chinese currency. ...
Australian dollar falls to 73.5 US cents as China's central bank devalues yuan image
....Meanwhile, the greenback has been rising in anticipation of a US interest rate hike, Callow said. “That meant that the Chinese currency had also been rising against its regional trading rivals,” he said. ...
China devalues yuan by 2% to boost flagging economy image
Source : Guardian [Read Article] Tuesday 11th of August 2015 02:30:32 AM
....The US dollar gained against a basket of currencies, moving up 0. 2% but the Australian dollar, often used as a liquid proxy for the Chinese currency, slid more than 1% to as low as US$0. ...
Renminbi trading in the UK is booming - and the Government loves it image
Source : Telegraph [Read Article] Friday 26th of June 2015 04:00:02 AM
.... This growth will be supported by China's long-awaited international payments system to process cross-border yuan transactions, which could be launched as soon as September. The move should greatly increase global usage of the Chinese currency by cutting transaction costs and processing times. ...
If China's economy stumbles, the world falls image
Source : Telegraph [Read Article] Saturday 30th of May 2015 03:00:58 PM
It's time for Britain to become a nation of exporters  image
Source : Telegraph [Read Article] Sunday 17th of May 2015 06:00:07 PM
.... . This is set to be more pronounced as Asian economies continue to grow faster than the West, and in the wake of other trends, such as the rise of the Chinese currency, the renminbi. ...
Pacific and European trade deals may be back on track as US Senate votes again image
....Related: Obama's plans for trade deals with Asia and Europe in tatters after Senate vote. Under the agreement, the Senate will hold a series of votes on Thursday on three separate trade measures: two standalone votes on bills that reflect Democrats’ priorities, including one that would crack down on Chinese currency manipulation, and then another vote on a bill that would give Obama so-called “fast-track” negotiating authority. ...
It's time for the world to adjust to China's global ambition image
Source : Telegraph [Read Article] Saturday 28th of March 2015 03:45:07 PM
.... . Last week Premier Li Keqiang quietly asked the IMF to include the yuan in its “special drawing rights” basket – an act that would make it easier for other countries to store their reserves in the Chinese currency. ...
The UK must resist taking sides as the US and China fight for financial supremacy image
.... David Cameron has been quick to follow the French and German lead in building trade ties with China. George Osborne has been pushing to make the City of London the main financial hub for Chinese currency dealing. ...
China quietly joins Asia's currency wars to avert deflation image
Source : Telegraph [Read Article] Monday 22nd of December 2014 07:12:23 PM
.... . Marc Chandler, from Brown Brother Harriman, said the Chinese currency is falling under its own weight. ...
LME chief says European rules are hitting growth image
Source : Telegraph [Read Article] Sunday 14th of December 2014 07:20:24 PM
.... The Treasury has helped with negotiations to open a metal warehouse in mainland China. The LME is also seeking regulatory approval to establish a Chinese currency clearing facility in London. ...
China blinks as economic downturn deepens  image
Source : Telegraph [Read Article] Friday 21st of November 2014 07:18:40 PM
.... "We don’t think much of the links that some are drawing between the PBOC’s moves today, loosening by the Bank of Japan and the European Central Bank, and the value of the renminbi," he said. The bank could at any time drive down the Chinese currency by reverting to its old policy of purchasing foreign bonds. ...
'Globalisation 2.0’ - the revolution that will change the world image
Source : Telegraph [Read Article] Friday 21st of November 2014 06:20:39 AM
.... (By the by, free movement of capital will eventually allow the renminbi to start countering the dollar as an international reserve currency. Already, the Chinese currency is quite extensively used in Asia for international trade. ...
Treasury hires banks to run first renminbi bond sale by a Western state image
Source : Telegraph [Read Article] Thursday 9th of October 2014 12:40:27 PM
. The government has today hired three banks to help the UK become the first Western state to issue bonds in the Chinese currency renminbi. ...
China growth will slow to a sustainable level image
Source : Telegraph [Read Article] Tuesday 7th of October 2014 09:04:34 AM
. King Lun Au, Asset Management CEO of the Bank of China, says that London is "very well positioned" to become the offshore home of the Chinese currency. ...
South Korea to get clearing system for China's yuan image
Source : BBC [Read Article] Friday 4th of July 2014 04:21:18 AM
. South Korea will get a yuan clearing system in the capital Seoul, expanding the list of states with direct access to trade in the Chinese currency. ...
Chinese currency deal heralds jobs bonanza image
Source : Daily Express [Read Article] Thursday 19th of June 2014 12:01:00 AM
....As Beijing relaxes rules on its currency London is bidding against Frankfurt, Paris and Luxembourg to become the main trading centre in the West. Chancellor George Osborne said: “I believe the emergence of the Chinese currency as one of the world’s leading currencies will be the next huge change in global finance. ...
City of London boosted by China currency trading move image
Source : Guardian [Read Article] Wednesday 18th of June 2014 01:52:00 PM
. London will be the base for the first clearing bank outside Asia for the Chinese currency, supporting Britain's push to be the leading western centre for offshore renminbi trading. ...
Shell and BP to announce new China trade deals image
Source : Independent [Read Article] Tuesday 17th of June 2014 09:10:42 AM
....Others agreements will include the naming of a London branch of China Construction Bank as the first clearing bank for Yuan trades outside China. The City is seeking to cements its position as the world's leading hub for trading the Chinese currency, the renminbi. ...
Li Keqiang visit to Britain: China needs us as much as we need them image
Source : Independent [Read Article] Monday 16th of June 2014 05:23:04 PM
.... Around two-thirds is estimated to be stored in US government debt and mortgage securities. Those bonds are safe, but the returns are low – and they  will fall further if the Chinese currency continues to appreciate against the dollar. ...
China exports and imports fall image
Source : Telegraph [Read Article] Thursday 10th of April 2014 06:00:24 AM
.... Analysts said March exports probably were stronger than they appeared. They said data suffered from comparison with last year, when exporters are believed to have reported inflated values for goods as a way to evade Chinese currency controls and bring extra money into the country. ...

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