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Day: October 19, 2018
October 192018
Chinese Yuan Jumps Despite Growth at Slowest Pace Since 2009
The Chinese yuan is rallying against its American counterpart at the end of the trading week, despite the national economy growing at its slowest pace in about a decade. As the US-China trade war intensifies, there are fears that the economy could cool down even more. According to the National Bureau of Statistics, the third-quarter gross domestic product (GDP) climbed 6.5%, down from 6.7% in the previous quarter. The market had forecast a jump of 6.6%. […]
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October 192018
NZD & AUD Firm Despite China’s GDP Miss
The New Zealand dollar, as well as its Australian counterpart, was strong today. The currencies rose against their most-traded rivals even as economic growth in China, the biggest trading partner of both New Zealand and Australia, was slower than expected. The miss was small, though, and other Chinese macroeconomic indicators were within expectations. The National Bureau of Statistics of China reported that gross domestic product rose 6.5% in the third quarter […]
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