Chinese Yuan – What Has Happened ~ forex trading account uk
The July Trade Numbers
The Chinese government saw a drop of 8.9 percent in exports for July and reacted swiftly with a devaluation of the Yuan. Being the world’s largest goods trader, China has set up for many changes to happen around the world.(Xinhua)
Zhang Xiaohui, assistant governor of Chinas central bank, said the value of the yuan has gradually returned to market levels as the discrepancy between the central parity rate and the actual trading rate has been largely corrected after declines early this week.
"There are no grounds for persistent and substantial depreciation as sound economic fundamentals determine that the yuan will re-enter a rising streak," said Zhang.
Here is a one year chart of the USDCNY from Bloomberg
To understand what is happening with the Yuan will take a significant amount of research and consideration of a lot of opinions. Our weekend will be filled with studying the effects of the recent moves in the Yuan. Many currency pairs will be affected by this move and that will develop in coming days.
I have gathered several articles below, and, as well, Bloomberg has quite a collection of articles on their site at this link.
Chinas Yuan Could Fall 10% or More - Barrons
http://news.google.com Sat, 15 Aug 2015 05:40:31 GMT
BarronsChinas Yuan Could Fall 10% or MoreBarronsOn a sultry mid-August evening last week, world currency markets were rocked by what amounted to nothing short of a regime change: China announced a devaluation and freer float of its currency, the y ... Read more ...
China Gambles with the Yuan - The New Yorker
http://news.google.com Fri, 14 Aug 2015 12:08:45 GMT
The New YorkerChina Gambles with the YuanThe New YorkerIf youre confused by whats been happening to Chinas currency over the past few days, dont feel bad. The wild ride that the yuan has taken has left plenty of people perplexed, including, perha ... Read more ...
IMF Calls Chinas Yuan Moves Welcome Step to More Flexible Rate - Bloomberg
http://news.google.com Sat, 15 Aug 2015 00:15:48 GMT
Wall Street JournalIMF Calls Chinas Yuan Moves Welcome Step to More Flexible RateBloombergThe International Monetary Fund said Chinas move to link the yuans value to market forces is an encouraging step toward what may become a freely floated curr ... Read more ...
Many factors at play in the devaluation of yuan - Marketplace.org
http://news.google.com Fri, 14 Aug 2015 21:29:51 GMT
Marketplace.orgMany factors at play in the devaluation of yuanMarketplace.orgA man changes foreign currency into Chinese yuan in Hongqiao airport in Shanghai on Friday. Chinas central bank raised the value of the yuan against the U.S. dollar by 0.05 ... Read more ...
Stocks end week lower, bruised by China yuan weakness - Reuters
http://news.google.com Fri, 14 Aug 2015 20:59:00 GMT
ReutersStocks end week lower, bruised by China yuan weaknessReutersFor the week, the MSCI All World Index fell 0.4 percent, its second consecutive weekly decline. Chinas modest devaluation of its currency dominated market activity, as the yuan lost ... Read more ...
China policymakers may lose control of yuan: Trader - CNBC
http://news.google.com Fri, 14 Aug 2015 12:15:51 GMT
CNBCChina policymakers may lose control of yuan: TraderCNBCThe next GDP print lets say misses and the market really tries to push the yuan lower. Will the Chinese government simply let the yuan float or will they come back and try to put the genie b ... Read more ...
Wall St settles after yuan shock week - The Australian Financial Review
http://news.google.com Fri, 14 Aug 2015 21:08:58 GMT
The Australian Financial ReviewWall St settles after yuan shock weekThe Australian Financial ReviewWall Street markets were composed at the end of a tumultuous trading week, as Chinas plunging currency stabilised and positive American economic data ... Read more ...
US stocks make slight gains as yuan and oil stabilize - WRAL.com
http://news.google.com Fri, 14 Aug 2015 14:26:15 GMT
WRAL.comUS stocks make slight gains as yuan and oil stabilizeWRAL.comCHINA CALM: Chinas currency, the yuan, was stable after falling sharply earlier this week. On Friday, the dollar was buying 6.3901 yuan, little changed from the previous day when Z ... Read more ...
How Chinas yuan devaluation could affect your food costs - Moneycontrol.com
http://news.google.com Sat, 15 Aug 2015 08:04:24 GMT
Moneycontrol.comHow Chinas yuan devaluation could affect your food costsMoneycontrol.comChina is one of the worlds biggest importers of what are known as "soft" commodities – including key ingredients such as soybeans. Chinas imports have become m ... Read more ...
Impact on rupee from Chinas yuan move to be temporary: Economic adviser ... - Times of India
http://news.google.com Sat, 15 Aug 2015 09:09:00 GMT
NDTVImpact on rupee from Chinas yuan move to be temporary: Economic adviser ...Times of IndiaNEW DELHI: The impact of the devaluation of the Chinese yuan on the rupee will only be "temporary", given "adequate" foreign exchange reserves, the country ... Read more ...
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