Uwe Parpart


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 – …

Continue reading

Yuan resumes climb on August jump in domestic demand

Yuan resumes climb on August jump in domestic demand

(ATF) The Chinese economy continued its faster than expected growth acceleration in August as industrial production climbed by 5.6% year-on-year (1.02% month-on-month) and lifted producer prices (PPI) from -2.4% year-on-year in July to -2.0%, a gain of 0.3% month-on-month.But it was the 1.25% month-on-month growth in retail sales (+0.5% year-on-year) …

Continue reading

Yuan flat for the week as stocks slump hits

Yuan flat for the week as stocks slump hits

(ATF) Since being set at the highest level to the US dollar (6.8319) in well over a year on September 3, the yuan's central parity rate has stagnated in a narrow range of 6.8359 to 6.8423.This Friday morning's rate was set by the PBoC at 6.8389.This should not be interpreted …

Continue reading

No lasting yuan impact from US tech stock rout

No lasting yuan impact from US tech stock rout

(ATF) The People's Bank of China set yuan central parity against the US dollar at 6.8423 on Wednesday morning, the weakest level since September 1's 6.8498.If you think about the PBoC's central parity rate as a kind of forecast the bank will reinforce by way of intervention, then the Chinese …

Continue reading

Fast-rising yuan targeting 6.0 vs falling US dollar

Fast-rising yuan targeting 6.0 vs falling US dollar

(ATF) Having reached my near-term target of 6.85 to the US dollar ahead of schedule, I am issuing a more aggressive mid-term yuan (CNH) forecast of 6.0.Here's my thinking behind this call.Informed by the experiences of the economic impact of the Covid-19 pandemic and the ongoing US Trump Administration trade …

Continue reading

The inexorable rise of the Chinese yuan 

The inexorable rise of the Chinese yuan 

(ATF) The People's Bank of China (PBoC) set yuan parity with the US dollar at 6.8903 on Thursday morning in Shanghai, the first time since late January this year that parity has been set stronger than the 6.9000 level.The offshore yuan (CNH) did the PBoC one better. It traded in …

Continue reading

Strong yuan becomes politically correct

Strong yuan becomes politically correct

(ATF) The People's Bank of China (PBoC) this morning set central parity for the yuan (CNY) at 6.9183 to the US dollar. Over the past five trading days since August 19, parity was set in a narrow range of 6.9107 - 6.9274, the strongest such range since the period from …

Continue reading