LONDON, March 2- The euro gained a third of a percent against the dollar on the back of marginally better economic numbers on Monday, showing some resilience ahead of the launch of outright money-printing by the European Central Bank. The Australian dollar was the biggest loser, down almost one percent against the euro, on speculation that China's weekend cut in...» Read More
I was hoping we could forget about the Club Med countries for a while. China's currency, the G20 Toronto meeting, and the sacking of McChrystal pushed Greece off the front page.
China has long relied on workers from its interior to make goods for export. Now it is counting on them to buy goods. The New York Times reports.
Our traders share their thoughts on Tim Geithner and Larry Summers' call for the revaluation of the yuan.
Stocks climbed on Monday following news that China is dropping its informal peg of the yuan to the dollar, a move investors believe will boost Chinese demand for exports as well as commodities. Art Cashin, director of floor operations at UBS Financial Services, shared his market outlook.
Is Beijing's surprise move to effectively abandon its dollar peg the spark needed to jumpstart a summer rally in US stocks?
China is set to allow a gradual appreciation of the renminbi against the US dollar after warning that the exchange rate would remain “basically stable” in spite of a decision to abandon its currency peg.
An anti-China trade sanction bill in the U.S. would be a "huge mistake", stresses Stephen Roach, chairman at Morgan Stanley, noting that it will be a bad political decision with a bad economic outcome.
Fears over default or restructuring by a euro-zone member like Greece or Portugal have been rife for months and are raising big concerns about losses on the balance sheets of banks in Europe and beyond.
Coastal factories are raising salaries, local governments are hiking minimum wage standards and if China allows its currency, the renminbi, to appreciate against the U.S. dollar later this year, as many economists are predicting, the cost of manufacturing in China will almost certainly rise. The NYT reports.
Treasury Secretary Tim Geithner said on Tuesday he planned to emphasize the need for a stronger Chinese yuan when he visits Beijing next week, amid some recent speculation that the country could relax its exchange-rate regime.
The pain of the European debt crisis is spreading, with the plummeting euro making Chinese companies less competitive in Europe, their largest market, and complicating any move to break the Chinese currency’s peg to the dollar.
The Commerce Department reported the March deficit on international trade in goods and services increased to $40.4 billion from $39.4 billion in February.
The Chinese economy's surprisingly strong 11.9 percent growth reinforces the belief that tighter monetary policy is on its way for the world’s most populous nation. But inflation eased a little bit so tightening may be a way off.
Even as China’s leaders appear to have reached a consensus that the nation’s currency policy must change, the timing of any shift has been complicated by surging nationalism, a media frenzy in China over the issue and visits by top officials on each side to Beijing and Washington in recent days. The NYT reports.
The U.S. dollar's strength appears to be waning as the focus turns from Europe's debt worries to China's possible appreciation of its currency, Chris Zwermann, global strategist and technical analyst at Zwermann Financial said Tuesday.
The Chinese yuan rose to its highest close in six months against the dollar as traders fretted over a possible yuan revaluation over the weekend. Who benefits from the revaluation—if it happens? Jim Oberweis, editor of The Oberweis Report, shared his insights.
In an exclusive to CNBC.com, Fast Money Trader Brian Kelly says "China's lending practices have been compared to the US during the 2000's and without the automatic stabilizers of the free market it is likely that tremendous imbalances exist. In the word's of Warren Buffet...when the tide goes out we see who has been swimming naked."
The two sides exchanged views on U.S.-China economic relations, the global economic situation and issues relating to the upcoming economic track dialogue of the second U.S.-China Strategic and Economic Dialogue, to be held in Beijing in late May.
The Chinese government is very close to announcing a revision of its currency policy in the coming days that will allow greater variation in the value of its currency combined with a small but immediate jump in its value against the dollar, the New York Times reported.
Here’s another solution that involves neither erecting trade barriers nor asking the Chinese to revalue their currency: cut US corporate taxes.