Day: November 20, 2018

November 20
2018

Chinese Yuan Struggles for Direction As Market Braces for Corporate Defaults

The Chinese yuan is struggling to find direction against its American counterpart on Tuesday as the market weighs several stories impacting the national economy. From President Donald Trump’s latest swipe on Beijing to the rising tide of corporate defaults, China is bracing for a lot of pressure heading into next year. A new report finds that a growing number of Chinese businesses could default on their debts if they are issued In US […]

Read more
November 20
2018

Pound Drops on Brexit and Political Jitters Amid BoE Speeches

The British pound today declined slightly against the US dollar even as Brexit jitters continued to weigh down the cable. The pound was further affected by the DUP’s resistance to the current Brexit deal given that Theresa May needs the 10 votes from DUP members led by Arlene Foster in order to have a majority in the House of Commons. The GBP/USD currency pair today traded between a high of 1.2883 and a low of 1.2822 and was within this […]

Read more
November 20
2018

Aussie Declines Following Release of RBA Minutes, IMF Forecast

The Australian dollar declined today after the Reserve Bank of Australia released minutes of its latest policy meeting. The release was unlikely the cause of the decline, though, as the central bank retained its neutral stance. The more likely reason for the drop was the risk-off sentiment on markets. By now, the Aussie managed to trim losses. The RBA released minutes of its November meeting, at which policy makers kept the main interest rate unchanged at 1.5%. The central […]

Read more