Baku, Azerbaijan, July 3 By Anvar Mammadov - Trend: The China’s yuan (CNY) weakened further overnight after Chinese authorities set the fix lower for the CNY once again, with USD/CNY rising above 6.72 overnight before settling back toward 6.67 as of this writing, Head of FX Strategy at Saxo Bank John Hardy told Trend on July 3. At its weakest levels overnight, the currency had weakened over 4.5 percent versus the US dollar in the space of less than three weeks, he noted. “The key question here is whether China is trying to send a message to President Trump in the showdown over trade or whether the message is intended for the Powell Fed,” Hardy said. “In other words, China may be looking back to the early 2016 timeframe and how the strong US dollar finally triggered then-Fed chair Yellen to back away on forward guidance on further rate hikes – seen at the time as the key change of course that revived global markets.” “Perhaps China is hoping it … [Read more...] about Will China be able to stop US dollar’s increase?
70 us dollar euro
It's getting cheaper to go on holiday to America - the pound just hit a post-referendum high of above $1.43. That's 17% better than the October 2016 low of around $1.22. And it looks set to keep rising. "The pound will strengthen to $1.50 against the US dollar and €1.20 against the euro over the next 12 months,” predicted Miles Eakers, chief market analyst at currency firm Centtrip. Of course, before the referendum you could have got $1.50 for every pound you exchanged, a year before that you could get more than $1.70, and in 2007 the figure was $2.09. But it's still excellent news for people looking to book trips to the States - or even pick up some shopping here. What it means Put simply, British holidays to the US just got a lot cheaper. More than that, commodities like oil - and therefore petrol and jet fuel - are also cheaper, because they're priced in dollars. And cheaper petrol also means cheaper everything else eventually, as it lowers delivery costs. Even if you're … [Read more...] about Pound soars against the dollar, how to make the most of the better exchange rate
0 Comments US stocks rise but biggest gains fade as market stays volatile BelfastTelegraph.co.uk US stock indexes finished slightly higher on Monday as investors let go of some of their fears about a possible trade war with China, although bigger gains slipped away as the market suffered a steep afternoon decline. https://www.belfasttelegraph.co.uk/business/uk-world/us-stocks-rise-but-biggest-gains-fade-as-market-stays-volatile-36791484.html https://www.belfasttelegraph.co.uk/business/uk-world/article36791483.ece/1277b/AUTOCROP/h342/bpanews_e0c40c14-0f2d-4bd2-ab78-b47d4492eb21_1 Email US stock indexes finished slightly higher on Monday as investors let go of some of their fears about a possible trade war with China, although bigger gains slipped away as the market suffered a steep afternoon decline. Stocks climbed higher in the first hours of trading and, at about 2pm, the Dow Jones industrial average was up 440 points. That put the market on track to make up almost all of … [Read more...] about US stocks rise but biggest gains fade as market stays volatile
By April 8, 2018, 3:15 PM EDT The Iranian rial hit a record low against the U.S. dollar for the second time in two months over concerns about Iran’s economy, rattling businesses and prompting some currency dealers to suspend trading.The rial fell to a record low of 57,000 against the dollar by late afternoon on the unregulated currency market, according to the semiofficial Iranian Students’ News Agency. Several foreign-exchange dealers announced they had stopped selling both dollars and euros by late afternoon trade, according to ISNA.The greenback first breached 50,000 Iranian rials in February. Authorities arrested scores of traders whom it blamed for deliberately driving the devaluation in order to profit from it. The Central Bank sought to stabilize the currency by issuing a bond and temporarily allowed banks to increase rates on deposits in an attempt to draw investors away from the dollar.The euro also hit a record 60,000 rials last week and was selling for … [Read more...] about Iranian Rial Hits Record Low; Dealers Stop Trading Dollar, Euro
Fears of a full-blown trade war between the United States and China have battered Asian shares again despite signs that Washington is prepared to negotiate deals around the region. South Korea announced on Monday that it had won an exemption from US duties on steel imports, easing some anxieties about damaging tariffs for one of Asia’s biggest economies. Futures trading on Wall Street pointed to a rise in the markets later on Monday after the Wall Street Journal reported the US and China have started behind-the-scenes negotiations to improve American access to Chinese markets. The Dow Jones industrial average is on course to jump 0.8%, according to online trader IG Markets, while the E-Mini futures for the S&P 500 leapt 0.6% on the news, an unusual move during early Asian hours. The US treasury secretary, Steve Mnuchin, said at the weekend that Trump was not ready to back down but added that he had “very productive conversations” with Chinese officials on the … [Read more...] about Asian shares battered by trade war fears but US signals willingness to talk