Data on the Chinese yuan notes that lifting Covid-19 restrictions earlier this year has not boosted business transactions as much previously predicted, with the yuan falling 0.1% this week. Its third-quarter gross domestic product data is due later this week, which may shed some light on China’s subdued economic growth and inflexible lending rates. Don’t…
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The buzz around Facebook's Libra stablecoin is gone off through the roof, as some might say. The truth is that the cryptocurrency project undertaken by Facebook has shaken regulatory bodies around the world so "violently" that they cannot simply decide if Libra is a huge opportunity or huge threat. However, there are certain details around…
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ActivTrades’ Market Analysts have prepared for Leaprate their daily commentary on traditional markets for May 15, 2019. See details below: Forex Despite the headwinds of escalating trade tensions with the US and domestic economic indicators falling short of expectations, the Chinese Yuan is finding support and is currently trading at 6.8695 against the US Dollar,…
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The following article was written by Jasper Lawler, Senior Market Analyst at FCA regulated broker LCG. The US dollar has been on a tear against the Chinese yuan/renminbi since mid-April, and in just the past two weeks has skyrocketed to a one-year high. The main impetus of yuan weakness has been the US-China trade war. Further…
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Bitcoin traded at a high of $788.49 on Tuesday amid a flight to safety after Chinese stock market jitters - the highest level in 3 years. The previous 2016 high of $781.31 was achieved in the summer when traders prepared for a process known as "halving" – where the rewards offered to bitcoin miners fall,…
Read moreChina puts into action requirements for foreign firms to settle foreign exchange forward yuan positions in the onshore market, the country's foreign exchange trading platform, operated by the central bank, said in a statement on Wednesday. Foreign firms will need to set aside 20% of the previous month's yuan forwards settlement amount as foreign exchange…
Read moreAccording to SWIFT’s latest RMB tracker, the United Kingdom has become the second largest offshore RMB clearing centre, as the UK's RMB payments value rose by 21% between March 2014 and March 2016. The United Kingdom lags behind Hong Kong in the ranking. Singapore overtook the United Kingdom in February 2014, but the trend began…
Read moreSWIFT has earlier today published the latest edition of its RMB Tracker, the monthly report that monitors the international adoption of the Chinese currency. The yuan accounted for 1.76% of international payments by value in February 2016, down from a share of 2.45% in January 2016. Despite the fall, the Chinese currency remains at #5…
Read moreThe International Monetary Fund (IMF) announced on Friday that it will separately identify the renminbi (RMB) in its official foreign exchange reserves database beginning October 1, 2016. The decision comes after in November last year the IMF voted that the Chinese currency is a freely usable currency and will be included in the SDR basket as…
Read moreSWIFT has just published the latest edition of its RMB Tracker, the monthly report that monitors the international use of the Chinese currency. The latest report shows that the Yuan gained some share as a world payments currency in January 2016, although it stayed at #5 in the ranking. The RMB accounted for 2.45% of…
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