The Chinese yuan is making gains against its US counterpart midweek, despite new economic numbers that show weaker corporate loan demand and a Bank of England (BOE) warning that China threatens the global economy. The yuan has strengthened over the last week, but it is still down 1% since August against the greenback. According to the Peopleâs Bank of China (PBOC), financial institutions extended fewer loans […]
Read moreThe Australian dollar dipped today following the release of a negative macroeconomic report in Australia but bounced later, trading near or above the opening level against its most-traded rivals by now. The Westpac Melbourne Institute Index of Consumer Sentiment declined 3% in September from the previous month after falling 2.3% in August. As a result, the index touched the lowest level since November. The report explained the weak reading citing the following reasons: The detail suggests […]
Read moreEUR/USD fell intraday but started a rebound after US producer prices demonstrated an unexpected drop last month. Now, the currency pair trades slightly above the opening level. PPI fell 0.1% in August. That is compared to no change in July and the predicted increase by 0.2%. (Event A on the chart.) US crude oil inventories dropped by 5.3 million barrels last week and were below the five-year average for this time of year. […]
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