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Day: November 6, 2018
November 62018
Chinese Yuan Strengthens on Xiâs Tepid Reform Pledges
The Chinese yuan is posting modest gains against its US counterpart on Tuesday after President Xi Jinping pledged modest economic reforms. But the currencyâs boost was capped by investorsâ doubt that a trade agreement between the worldâs two largest economies is imminent. This week, Xi delivered a 30-minute speech at the China International Import Expo, where he continued to say that Beijing was opening up its […]
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November 62018
Euro Trades Flat Despite Upbeat PMI Data Ahead of US Midterm Elections
The euro today largely traded sideways against the US dollar alternating between gains and losses as markets awaited the results of today’s US midterm elections. The euro failed to rally significantly following the release of several positive PMI prints from across the euro area by Markit Economics, instead, it headed lower driven by negative sentiment. The EUR/USD currency pair today traded between a low of 1.1391 and a high of 1.1426 and was within this […]
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