Uwe Parpart


China slowing the yuan's rise? Very doubtful

China slowing the yuan's rise? Very doubtful

(ATF) There was much ado on Bloomberg and other financial news services when the People's Bank of China (PBoC) announced last Saturday that financial institutions no longer need to set aside cash for risk reserves when purchasing foreign exchange for clients through forward contracts starting on Monday.The move was widely ...

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Chinese yuan powers to over two-year highs

Chinese yuan powers to over two-year highs

(ATF) China's central bank (PBoC), back from a week-long National Day and Mid-Autumn festival holidays, set central parity for the yuan against the US dollar at 6.7796 on Friday morning, well higher than the last pre-holiday rate of 6.8101, yet nowhere near where a holiday refreshed yuan wanted to go.At ...

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Yuan jumps on expected foreign demand for Chinese assets

Yuan jumps on expected foreign demand for Chinese assets

(ATF) Even as China celebrates National Day and the mid-autumn festival and takes week-long holidays until October 9, trading in the offshore deliverable yuan (CNH) continues. And over the past 48 hours, CNH registered some of the largest gains since it started trading in 2010.First the numbers.The sharp CNH upward ...

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Pause in yuan's rise to persist through November 3 US election

Pause in yuan's rise to persist through November 3 US election

(ATF) The People's Bank of China (PBoC) this morning set the yuan's central parity rate with the US dollar at 6.8101, marginally stronger than Tuesday's 6.8171 and the first day-on-day advance of the Chinese currency's fixing since September 18 (when it was set at an 18-month high of 6.7591).At the ...

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Evergrande's monster debt weighs down China stocks, yuan

Evergrande's monster debt weighs down China stocks, yuan

(ATF) The initial hits pummelling the high-flying yuan came late last week when US and Chinese (Shanghai - Shenzhen - Hong Kong) stocks re-coupled and the US stocks malaise since September 2 infected East Asia.China's markets had shown resistance to the extended US markets' swoon, which drove the Nasdaq well ...

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Yuan caught in global stock markets' downdraft

Yuan caught in global stock markets downdraft

(ATF) The global stocks malaise started after September 2, when the S&P 500 index hit an all-time high of 3,581. Some saw hope overnight that a turnaround might be nigh, when the S&P hit 3,235 at 2:45am HK time and bounced off the -10% correction level. It rallied into the ...

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Dollar short squeeze? Yuan rise not shaken

Dollar short squeeze? Yuan rise not shaken

(ATF) The US Fed sees rates at or near zero through till 2023. But that did not please US stock traders and investors and kicked loose an equity sell-off that continued into Asia and Europe on Thursday.Why?The Fed had accompanied the zero-forever pledge with a downbeat economic forecast, which – ...

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