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Day: January 2, 2019
January 22019
Chinese Yuan Strengthens Despite Weak Manufacturing Data
The Chinese yuan is strengthening against its US counterpart midweek, despite new data that shows the worldâs second-largest economy had a worse December than the market had anticipated. This is leaving some central bankers to forecast a slower-than-expected fourth-quarter, which is not something the nationâs leadership wants to hear as it ignites a wave of stimulus measures. The Caixin/Markit Manufacturing Purchasing Managersâ Index (PMI) declined to 49.7 in December, […]
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January 22019
Sterling Pound Falls Despite Upbeat UK Manufacturing PMI
The British pound today fell to new 2-day lows against the US dollar amid a risk-off market sentiment, which favored the US dollar. The GBP/USD currency pair today broke the crucial 1.2700 support level as the markets continued to react to the uncertainty facing the UK economy due to the looming Brexit date. The GBP/USD currency pair today rose to a high of 1.2774 before dropping to a low of 1.2656 in the mid-European session. The Sterling pound rallied higher […]
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