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Today Mario Draghi, President of the European Central Bank, said that they needed monetary expansion and that they needed to be patient for the first interest rate hike. On the other hand, the failure of German coalition partners to agree on the issue of immigrants is one of the key issues that put pressure on euro assets as well as the question of whether the coalition is deteriorating on the market side. In addition, economically problematic countries such as Italy and Spain are among the fact…
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Risk sentiment improves
Stabilization in the yuan and some better data from China have been enough to underpin risk sentiment that has been improving since the beginning of the week.
That weighed on the franc, which lost about 50 pips against the dollar overnight. The pair (USD/CHF) is holding above 50 DMA and a cluster of support levels near parity. Previous Week High (1.0125) is the next target.
That weighed on the franc, which lost about 50 pips against the dollar overnight. The pair (USD/CHF) is holding above 50 DMA and a cluster of support levels near parity. Previous Week High (1.0125) is the next target.
Warning: Chinese credit bubble
The Solar Group Shanghai Chaori Solar Energy is not able to pay its interest on bonds. The first official loan default in China. Experts say that the country could now experience its "Lehman momentum".
The money supply in China has increased more than tenfold since 1999. This is totally crazy. The government will try everything possible to mitigate the effects of the bursting of the bubble. Nevertheless, the impacts, such as the real estate sector are likely to be devastating, given the horrendo…
The money supply in China has increased more than tenfold since 1999. This is totally crazy. The government will try everything possible to mitigate the effects of the bursting of the bubble. Nevertheless, the impacts, such as the real estate sector are likely to be devastating, given the horrendo…
YUAN: Narrow Range Against The USD
After the last volatile period of the Yuan, the Chinese currency moves, however, in a narrow range against the dollar. The significant weakening of the daily reference rate by the Chinese central bank (People's Bank of China) earlier this week has no effect.
This has been greatly weakened, as last year and a half ago. "The volume of trade has been significantly reduced with the increasing caution of investors," says one trader. Currently, the yuan is trading at 6.1328 and so close to the referen…
This has been greatly weakened, as last year and a half ago. "The volume of trade has been significantly reduced with the increasing caution of investors," says one trader. Currently, the yuan is trading at 6.1328 and so close to the referen…
YUAN: fixed significantly lower
China's central bank set the reference rate fixed significantly lower. The yuan has lost much of its value on Monday. The central bank let the yuan reference rate depreciated significantly earlier. Unusually weak trade data from the weekend could be the reason.
The Chinese national currency yuan has given way to start of the week again noticeable. It fell on Monday morning -0.2 percent to 6.1405 yuan per dollar. Previously, the Chinese central bank had already significantly lowered the yuan refe…
The Chinese national currency yuan has given way to start of the week again noticeable. It fell on Monday morning -0.2 percent to 6.1405 yuan per dollar. Previously, the Chinese central bank had already significantly lowered the yuan refe…
Renminbi: The Race For The Yuan Trading Center
Frankfurt is in contention for becoming the first trading center for China's currency in the EURO area. But the rivals never rest. The chances for Frankfurt increase. Perhaps the agreement of such an "offshore center" at the end of March will be agreed during the visit of the Chinese party and state chiefs Xi Jinping in Germany. It is Xi's first trip to the Federal Republic since he has taken the lead in the second largest economy in the world a year ago. The German financial center would benefi…
RENMINBI : A Planned Fall Of The Yuan?
China's currency is in the downward tumble. The Renminbi has lost one percent of its value. The Chinese currency has known only one direction: UP. But for about a week, the rate of the Renminbi (Yuan) against the US Dollar keeps falling. In contrast to other emerging markets. However, this is no capital flight, but a targeted intervention by the central bank PBOC.
The Renminbi is not fully convertible, it is under strict capital controls in the People's Republic. The PBOC is helpless. Any exper…
The Renminbi is not fully convertible, it is under strict capital controls in the People's Republic. The PBOC is helpless. Any exper…
YUAN: Devaluation
China scares investors. The value of the Yuan has fallen sharply. The calculation behind is to get rid of speculators. To liberalize the exchange rate is the only alternative. Beijing is currently fighting against speculative capital and is trying to push the value of the Renminbi (Yuan). India, Brazil and other emerging economies suffer from massive capital outflow and try to stabilize their currencies.
China's central bank PBOC wants to discourage speculative capital. They have to cool …
China's central bank PBOC wants to discourage speculative capital. They have to cool …
YUAN: Under Reference Exchange Rate
For the first time the Chinese currency fell below the reference exchange rate since 2012. The Chinese central bank "Bank of China" (PBoC) buys dollars in the market and the Chinese currency Yuan/Renminbi falls in value. "It's pretty obvious that the central bank buys dollars on State commercial banks in the market".
A dollar increased in price by up to 0.4 percent to 6,125 yuan, and listed in order above the current reference rate of the PBOC from $ 6.1184. The Chinese currency is not freely tr…
A dollar increased in price by up to 0.4 percent to 6,125 yuan, and listed in order above the current reference rate of the PBOC from $ 6.1184. The Chinese currency is not freely tr…
Will Yuan replace US Dollar?
There is a unique symmetry between the United States Federal Reserve and the People’s Bank of China in that each has well over $3 trillion in assets on its balance sheet. But the similarities end at that point. The Federal Reserve acquired about $3 trillion in assets by expanding its balance sheet with the goal to recapitalize the global financial system. In contrast, the trillions in assets held by the People’s Bank of China are from export earnings and trade surpluses registering in the tens…