Out of control US virus situation sinks dollar

Out of control US virus situation sinks dollar

(ATF) Several noted medical experts and numerous medical workers on the frontlines of the Covid-19 battles in Florida, Texas and California consider the situation out of control as even the number of newly infected can no longer be ascertained with any degree of certainty. Under these circumstances, US unemployment and ...

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US orders China's Houston consulate shut, yuan shrugs

US orders China's Houston consulate shut, yuan shrugs

(ATF) The People's Bank of China (PBoC) set central parity for the yuan at 6.9718 to the US dollar this morning, the strongest level in four and a half months. The US dollar traded at 95.1670 on the dollar index (DXY) at the time. It jumped to 95.4070 by 4:44pm ...

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Open Sesame: Of ants and HK dollars

Open Sesame: Of ants and HK dollars

(ATF) For the seven days from July 10 to 17, the Hong Kong dollar experienced an unusual bout of weakness, coming off the high end (7.7500) of its permissible trading range with the US dollar and bouncing around between 7.7526 and 7.7539. A hopeful US Trump administration official saw it ...

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Strong euro sinks US dollar, drags up yuan 

Strong euro sinks US dollar, drags up yuan 

(ATF) Signs of the times! As European leaders, after a long-hours weekend, inch closer to agreeing to a $860-billion rescue package for their virus-decimated economies, Beijing announces that the latest cluster of infections has been contained. And the US announces record numbers of new infections, with no end in sight. ...

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As US dollar hits more turbulence, yuan catches tailwind

As US dollar hits more turbulence, yuan catches tailwind

(ATF) I noted yesterday the disparity between a good China 2Q GDP number (+3.2% year on year) and a nasty stock market downturn (-4.8% on the CSI 300). Chinese stocks steadied today (CSI 300: +0.63%; HSI: +0.47%) and the Thursday downturn is likely to prove more of a warning signal ...

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Higher than expected China GDP sustains yuan strength

Higher than expected China GDP sustains yuan strength

(ATF) China was the world's first major economy to emerge from coronavirus lockdown in April and today's second-quarter GDP results showed the reward: The economy grew by a faster than expected 3.2% year-on-year and by 11.5% quarter-on-quarter. But the upside growth figure wasn't the real surprise of the day – ...

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Why does Donald Trump want to punish me?!

Why does Donald Trump want to punish me?!

(ATF) I am a Hong Kong resident since 2003. I've been a permanent resident of the Hong Kong Special Administrative Region (SAR) of the People's Republic of China since 2010. My three young children were born here. My wife holds Chinese nationality and a Hong Kong passport. We love this ...

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