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This is a discussion on CNY News within the Analytics and News forums, part of the Trading Forum category; A leading index measuring economic activity in China jumped 1.2 percent in January, the latest report from the Conference Board ...

          
   
  1. #21
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    China Leading Index Rises 1.2% - Conference Board

    A leading index measuring economic activity in China jumped 1.2 percent in January, the latest report from the Conference Board revealed on Tuesday, standing at 283.4.

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  2. #22
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    China Manufacturing PMI Eases To 48.5 In February - HSBC

    An index measuring manufacturing activity in China came in with a score of 48.5 in February, the latest survey from HSBC and Markit Economics revealed on Monday.

    CNY News-usdcad-m5-metaquotes-software-corp-10-pips-price-movement-.png


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  3. #23
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    China February Exports Plunge; Import Growth Accelerates

    2013-03-08 02:00 GMT (or 03:00 MQ MT5 time) | [CNY - Trade Balance]

    past data is 31.9B
    forecast data is 14.5B
    actual data is -23.0B according to the latest press release

    if actual > forecast = good for currency (for CNY in our case)

    ==========

    Chinese exports declined unexpectedly, while growth in imports accelerated in February, taking the trade balance surprisingly to a negative zone. Exports declined sharply by 18.1 percent, reversing the 10.6 percent increase in January, data from the General Administration of Customs showed Saturday. The decline was in contrast to a 7.5 percent rise forecast by economists.

    CNY News-china-080314.jpg


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  4. #24
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    Weak Data Signal China Slowdown

    China's industrial production, retail sales and fixed investment grew less than expected in the first two months of 2014, underscoring the moderate slowdown in the region as measures to clamp down credit suppressed investment.

    Industrial production increased 8.6 percent year-on-year in the January to February period, the National Bureau of Statistics said Thursday. Production was forecast to grow 9.5 percent, following a 9.7 percent rise in December.

    Another report from the statistical office showed that retail sales grew by a double-digit 11.8 percent year-on-year during the two months, which was weaker than the 13.5 percent increase forecast by economists.

    Further, urban fixed asset investment during January to February increased 17.9 percent from the last year, which was also slower than expectations for 19.4 percent.

    The government targets 17.5 percent fixed asset investment growth for the whole of 2014, after it advanced 19.6 percent in 2013.

    Nonetheless, economic data in January and February are usually distorted by the Lunar New Year holiday.

    CNY News-audusd-m5-metaquotes-software-corp-20-pips-price-movement-.png


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  5. #25
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    China Unveils Urbanization Plan

    China unveiled measures to speed urbanization in a bid to provide impetus to economic growth through lifting income and consumption among rural residents.In its urbanization plan for 2014-2020, the government said Sunday it will reform "hukou" registration, and improve water safety as well as air quality.

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  6. #26
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    Two-Way Yuan Volatility Makes USDCNY Trading More Attractive

    Two-Way Yuan Volatility Makes USDCNY Trading More Attractive

    As the Chinese currency is experiencing its largest weekly decline ever, it is becoming clear that yuan trading could become the newest marketing tool for attracting Asian clients to Forex trading. The widening of the yuan trading band to 2% by the People’s Bank Of China (PBOC) last weekend is poised to present immediate results. With the Chinese economy slowing, the PBOC is looking to allow more two-way trading and it’s guiding the markets to depreciate the yuan for the first time since it was floated back in 2005.

    Start Preparing for the Asian EUR/USD

    Markets have started to price in increasing implied volatility which removes the obstacle to two-way trading that has up until now been provided by the simple carry trade that has worked for several years. The Chinese currency will become more attractive for retail forex traders since steady moves and an increased amount of market flows will boost its appeal.

    This can be used by retail Forex brokers to target an increasing amount of potential FX market traders hailing from Asia. Marketing efforts will have an increased effect once there is a pair that prospective clients around the region can recognize as being an integral part of their economies. The Asian equivalent of the EUR/USD has been difficult to trade for domestic clients within China, however the latest steps by the PBOC are revealing its commitment to transform its foreign exchange regime and commit to a more market oriented mechanism of rate setting.

    One-way Ticket… No More

    As one-way betting on the USD/CNY pair becomes obsolete we should expect increased volatility to stay with us for a while. Leveraged bets through the offshore yuan are unwinding and since this has been an almost constant carry trade since the managed float was introduced back in 2005, we can expect market activity to continue gradually increasing.



    The Chinese Government has realized the implications of a constantly rising exchange rate on its local economy and since the PBOC is not feeling direct pressure to fight inflation it is taking the opportunity to relax its policy through the exchange rate instead of moving interest rates. According to sources close to dealings in the Chinese yuan market, the Chinese Central Bank has been an active participant in the recent move by actively buying foreign currencies.

    The next move would be an introduction of more flexibility in the daily fixing mechanism that dictates price swings. There is already an example in the Asia-Pacific region that has combined market forces with solid control from a central bank. The Monetary Authority of Singapore (MAS) is managing the float of the Singapore dollar by directly intervening in the FX market. While inflation rates in the country have been quite volatile during the past 10 years, in the end its Consumer Price Index has averaged just about 2%, which is the target of most developed economies’ central banks.

    Two-way Volatility Makes USD/CNY Trading Attractive for Retail Traders

    Another important function that two-way volatility completes for the Chinese authorities is the reduction of hot money inflows. Considering the country’s massive stash of FX reserves it shouldn’t be a problem for the PBOC even if we were to observe some sort of a liquidity squeeze. It also opens the flood gates for even more Chinese products to be exported as the perception about an ever-appreciating Chinese yuan will grind to a halt.

    Retail traders are used to not paying that much attention to the Chinese yuan because of low volatility and because it has been going one way for almost a decade. This has made them reluctant to participate in a long unfolding trend, by being too fearful to jump on the bandwagon before it crashes, or too reluctant to try and pick up the turning point that might never come. Well that’s now history and some crucial opportunities are appearing.

    The main benefit to forex brokerages who are operating in the region is their ability to start offering a more attractive product to their prospective customers and break the news that clients in Asia can now trade Asia’s most important currency actively. The days of the ever-appreciating Chinese yuan are now over and the doors for the new EUR/USD in the face of USD/CNY are gradually opening.

  7. #27
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    China Manufacturing PMI Hits Eight-Month Low - HSBC

    China's manufacturing sector fell deeper into contraction in March, the latest flash PMI from HSBC and Markit Economics revealed on Monday. The index came in with a seasonally adjusted score of 48.1, touching an eight-month low. The headline figure is down from 48.5 in February, and it was well shy of forecasts for 48.7 - and it moves the index further below the mark of 50 that separates expansion from contraction.

    GBPUSD M5 : 10 pips price movement by CNY - Flash Manufacturing PMI news event

    CNY News-gbpusd-m5-metaquotes-software-corp-10-pips-price-movement-.png


    AUDUSD M5 : 32 pips price movement by CNY - Flash Manufacturing PMI news event

    CNY News-audusd-m5-metaquotes-software-corp-32-pips-price-movement-.png


    EURUSD M5 : 7 pips price movement by CNY - Flash Manufacturing PMI news event

    CNY News-eurusd-m5-metaquotes-software-corp-7-pips-price-movement-cny.png


    NZDUSD M5 : 16 pips price movement by CNY - Flash Manufacturing PMI news event

    CNY News-nzdusd-m5-metaquotes-software-corp-16-pips-price-movement-.png



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  8. #28
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    World Bank Recommends China To Reform Land Use, Local Finances

    The World Bank advised China to tackle environmental degradation and other strains of rapid urbanization by systematically changing how it allocates land, people and capital across the nation.

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  9. #29
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    China Services PMI Rises To 51.9 In March

    The service sector in China expanded at a faster pace in March, the latest PMI from HSBC and Markit Economics revealed on Thursday, coming in with a four-month high score of 51.9. That's up from 51.0 in February, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

    CNY News-usdcad-m5-metaquotes-software-corp-10-pips-price-movement-.png


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  10. #30
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    Fitch Retains China's 'A+' Rating

    Fitch Ratings maintained China's sovereign ratings and 'stable' outlook on Friday, citing strong external balance sheet and the less volatile economic growth.

    Fitch affirmed China's long-term foreign and local currency Issuer Default Ratings at 'A+'. The 'stable' outlook reflects Fitch's view that upside and downside risks to the rating are balanced.

    The sovereign external balance sheet is China's core sovereign credit strength. China's foreign reserves rose to $3.82 trillion at end-2013. This was equal to 19.2 months of current external payments.

    China's growth model faces tightening constraints from the rapidly increasing burden of leverage in the economy and from the deteriorating ability of the economy to absorb additional investment profitably.

    According to Fitch, China's GDP growth would remain less volatile out to 2015 than the 'A' range median in Fitch's projections. However, the re-balancing process entails some risk of sharply higher volatility if things go less smoothly than Fitch expects.

    Further, Fitch estimates the level of aggregate financing in China's economy at 217 percent of GDP at end-2013, up from 198 percent at end-2012. The authorities acted more aggressively to contain risks to financial stability since mid-2013.

    However, fundamental credit weaknesses, including low average incomes and weak scores for governance, weigh on the credit profile relative to 'A' range peers.

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