1371425 times
Latest from jürgen
87545 comments
-
Comment Link
ขาย wine Samstag, 07 Dezember 2024 12:32
SHANGHAI, Dec 6 (Reuters) - The yuan was little changed on Friday against the dollar, but is headed for its tenth straight
weekly loss amid concerns that new tariff threatened by President-elect Donald Trump will heighten strains on the struggling Chinese economy.
Analysts expect the dollar to remain firm as Trump's
policies are expected to drive up U.S. inflation, but they believe
Beijing will prevent the yuan from falling too much.
"We anticipate some depreciation pressure in an expected strong dollar environment," Lynn Song, Greater China chief
economist at ING, said in a note.
However, "we don't expect an intentional large-scale depreciation and think the yuan will remain a low-volatility currency vis-à-vis most other Asian currencies." The yuan was changing hands at 7.2549 per dollar around midday, little moved from
the previous close. Although the currency has rebounded from a one-year low of 7.2996 hit on Tuesday, it is poised to register its
longest weekly losing streak since 2018.
The dollar index fell to one-week low overnight and "the USD's consolidation should unwind the upside pressure building"
in the yuan, aided by ongoing attempts by China's central bank to restrain its decline, said Alvin Tan, strategist at RBC Capital
Markets.
Recent data has painted a mixed picture of China's economic
recovery, with manufacturing activities improving, but property
sales in many Chinese cities remaining weak. China's
"economic landscape is unarguably dull, and the absence of excitement is perhaps the most salient feature," said John Browning, managing director of BANDS Financial.
He doesn't expect huge stimulus to be announced during next week's Central Economic Work
Conference, as "Beijing's largesse will be reserved until after Trump is restored to the White House and the trade war formally begins." Top policymakers will
gather at the conference to agree on major economic
goals for next year.
But the target for 2025 growth, one of the most closely-watched indicators globally
for clues of Beijing's near-term policy intentions, likely will not be officially announced until an annual
parliament meeting in March. During Trump's
first term as president, the yuan weakened about 5% against the dollar after
the initial round of U.S.
tariffs on Chinese goods in 2018, and fell another 1.5% a year
later when trade tensions escalated. Growth worries and expectations of further monetary easing by Beijing pushed China's 10-year treasury yields below 2% to record
lows this week, worsening the yield disadvantage against the
U.S., and exerting downward pressure on the
yuan. ING's Song expects the onshore yuan to move within a band
between 7.00-7.40 per dollar, but could fall further to 7.50 "if tariffs come in earlier or more aggressive than our forecasts."
LEVELS AT 03:47 GMT GMT INSTRUME CURRENT UP/DOWN( % CHANGE DAY'S DAY'S LOW NT vs USD -) VS.
YR-TO-DATE HIGH PREVIOUS CLOSE % Spot 7.255 0.09 -2.11 7.2518 7.2675 yuan
CNY=CFX S Offshore 7.2615 0.03 -1.87 7.2574 7.2733 yuan spot
(Reporting by Shanghai newsroom; Editing by Kim Coghill) -
Comment Link
online lottery Samstag, 07 Dezember 2024 12:29
Brilliant Feedback to Website Observation
Excellent article! I'm undisputedly reveling in the text on this page.
Obtain you previously contemplated in relation to gaining encompassed by digital casino
gambling? Evolution is a brilliant system featuring a diverse selection of high-quality real-time croupier experiences.
The overall journey is extremely engrossing and authentic, it presents itself as
akin to you're directly at the gambling venue within the gambling.
If you're curious regarding testing this as well, I'd be quite glad to provide
my advice address. Evolution Gaming offers a superb introductory deal to new customers.
It's undoubtedly worthwhile examining more should you're seeking a fresh digital gambling adventure.
Appreciation as well in favor of the wonderful blog substance.
Preserve at the awesome efforts!
Leave a comment
Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.