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Day: September 25, 2018
September 252018
Chinese Yuan Strengthens on Bullish Forecast, Capped by Trade Dispute
The Chinese yuan is strengthening on Tuesday after a Wall Street giant forecast that the worldâs second largest economy will soon become the biggest economy in the world by 2030. The currencyâs gains were capped on the intensifying trade dispute between Beijing and Washington, as well as a report that China may scrap a popular home pre-sale system. According to a study by economists at HSBC Holdings Plc, China is set to overtake the US as the worldâs largest […]
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September 252018
Yen Weak After BoJ Minutes, Positive Data Doesn’t Help
The Japanese yen was generally weak today following the release of monetary policy minutes. Positive macroeconomic data did not help the currency. The Bank of Japan released today minutes of its July policy meeting. The notes mentioned uncertainties associated with the trade war between the US and China. One BoJ Board member stated: If the Chinese yuan depreciated further, due mainly to concerns over the possible negative impact on the Chinese […]
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September 252018
EUR/USD Rises During Tuesday’s Trading
EUR/USD rose on Tuesday. US macroeconomic data was mostly good, with the exception of the housing report, but that did not prevent the rally of the currency. S&P/Case-Shiller home price index rose 5.9% in July, year-on-year. That is compared to the predicted increase of 6.2% and the growth by 6.4% registered in June. Month-on-month, the index rose 0.3%. (Event A on the chart.) Consumer confidence climbed to 138.4 in September from the August revised reading of 134.7. Analysts […]
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