A reading of China's services sector expanded at a quick pace, a positive signal that marked a sharp contrast to recent weak manufacturing data.» Read More
WASHINGTON, Aug 4- The International Monetary Fund should put off any move to add the yuan to its Special Drawing Rights currency basket until September 2016, an IMF staff report said, a move that would effectively end the Chinese currency's chances of an early inclusion. The report, published on Tuesday, comes after Beijing launched a major diplomatic push for...
The dollar rose on Tuesday as a top Fed official voiced support for an interest rate increase in September despite a batch of disappointing data.
The dollar gained as investors looked ahead to jobs data on Friday that is expected to show a still strengthening labor market.
The dollar's appreciation has "peaked" and the U.S. economy is "doing nothing," an economist has told CNBC.
Steen Jakobsen, chief economist at Saxo Bank, says everyone east of Europe is likely to have interest in the Chinese renminbi.
Tommy Xie, economist at OCBC, says new orders remain weak due to lagging domestic demand, while falling input prices reflect persisting deflationary pressure.
Clive McDonnell, head of equity strategy at Standard Chartered, says below-par external demand is the key factor hurting China's manufacturing activity.
The downturn in China's manufacturing sector intensified in July, with the Caixin China PMI surprising with a drop to a two-year low.
The dollar fell against a basket of currencies on Friday, ending a decent month on a sour note.
The dollar rose to its highest level this week on Thursday after the U.S. Federal Reserve took another step towards raising interest rates.
Markets participants, however, say surging rates are likely to be short-lived as worries over yuan weakness may be overplayed and there is sufficient yuan liquidity in Hong Kong. Piling pressure on the yuan, China's State Council said on Friday it would liberalise yuan trading, among other measures, to support exports. "Following the sharp rebound in CCS, it is...
China's property market slump could hit the banks according to ratings agency S&P, in the latest warning to the world's second largest economy.
The euro whipsawed against the dollar on Wednesday after the Federal Reserves said it would leave interest rates unchanged.
Emerging market currencies were eyed by investors on Wednesday as weak oil prices, China's market pain and after the Federal Reserve left its interest rates unchanged.
Willie Chan, Asia regional strategist at Kim Eng Securities, attributes his bearish outlook for Chinese and Hong Kong equities to factors such as weak market sentiment.
SHANGHAI, July 29- Beijing may be struggling to put a floor under its tumbling stock market but it has managed to lock the yuan into an incredibly tight band against the dollar, despite pledging again to allow more exchange rate volatility. The cabinet said last week that Beijing would allow the yuan to fluctuate more to support weak exports.
The U.S. dollar rebounded against the euro and yen on Tuesday after traders took profits from gains in those currencies.
SHANGHAI, July 28- China's yuan held steady against the dollar on Tuesday after the central bank fixed its midpoint at a two-week high, in a sign that the government hopes to maintain currency stability amid sharp volatility in equities market, traders aid. Beijing typically tries to keep the yuan's exchange rate stable amid domestic and global market...
Callum Henderson, global head of FX research at Standard Chartered, says the yuan remains steady against the dollar on Tuesday after the central bank fixed its midpoint at a two-week high.
China's central bank said on Tuesday that it will use various monetary tools to maintain appropriate levels of liquidity in the year's second half.