untitled design

Tag: USDCNY

EUR/USD and GBP/USD will reach 0.96 and 1.12 by the end of the year – UBS

EUR/USD and GBP/USD will reach 0.96 and 1.12 by the end of the year – UBS EUR/USD and GBP/USD will reach 0.96 and 1.12 by the end of the year – UBS

The Dollar Index (DXY) hit a new 20-year high last week. Although it has since receded slightly, the index’s recovery so far this year is still above 13%. In the opinion of UBS economists, the dollar is likely to continue rising in the short term. The dollar should reach its maximum in the next six […]

China announces additional CNY 1 trillion worth of stimulus to rescue economy

China announces additional CNY 1 trillion worth of stimulus to rescue economy China announces additional CNY 1 trillion worth of stimulus to rescue economy

The State Council of China outlined on Wednesday a 19 point policy package while announcing economic stimulus measures worth CNY 1 trillion ($146 billion) to stimulate growth affected by the closures derived from covid and the housing market crisis, according to Bloomberg. Key points The stimulus measures will include “another 300 billion yuan that state […]

China: PM urges local officials to strengthen pro-growth measures

China: PM urges local officials to strengthen pro-growth measures China: PM urges local officials to strengthen pro-growth measures

Quoting the Chinese Premier Li Keqiangthe People’s Daily, the flagship newspaper of the Communist Party, reported that Li iUrged local officials in six key provinces representing around 40% of the country’s economy to step up pro-growth measures. Featured Statements The assembled officials must take the initiative to boost consumption and offer more fiscal support through […]

China: We are committed to keeping the economy within reasonable limits

China: We are committed to keeping the economy within reasonable limits China announces additional CNY 1 trillion worth of stimulus to rescue economy

The National Development and Reform Commission of Chinathe country’s state planner, reiterated Tuesday that “we are committed to keeping the economy within reasonable limits“. Featured Comments Macroeconomic policies must be strong, reasonable and moderate to actively expand demand. Approved 65 fixed asset investment projects totaling 1.028 trillion yuan in January to July. Approved 8 fixed […]

Chinese Leaders Say GDP Target Is a Guideline, Not a Fixed Target – Bloomberg

Chinese Leaders Say GDP Target Is a Guideline, Not a Fixed Target – Bloomberg Chinese Leaders Say GDP Target Is a Guideline, Not a Fixed Target – Bloomberg

“China’s top leaders told government officials last week that this year’s economic growth target of ‘around 5.5%’ should serve as a guideline and not a fixed target to be achieved“Bloomberg reports citing people familiar with the matter. Additional comments “The leaders held meetings with ministerial and provincial level officials last week, during which they were […]

PBoC: China to step up ‘prudent’ monetary policy

PBoC: China to step up ‘prudent’ monetary policy PBoC: China to step up ‘prudent’ monetary policy

“China’s economy faces downward pressure due to COVID-19 and external shocks, and the central bank will ‘increase the implementation of prudent monetary policy’ to support the real economyGovernor Yi Gang of the People’s Bank of China (PBoC) told Reuters over the weekend. The news adds that PBoC Governor Yi made the remarks via video conference […]

PBoOC will boost credit support for economic growth – MNI

PBoOC will boost credit support for economic growth – MNI PBoOC will boost credit support for economic growth – MNI

The People’s Bank of China (PBoC) guide commercial banks to continue to increase credit support and reduce borrowing costs in the real economy amid a waning recoveryMNI reports on Wednesday, citing central bank officials. Additional comments The PBoC will make it easier for lenders to reduce the real costs of borrowing through the reduction of […]

China Evaluates Massive Special Treasury Issuance to Stimulate GDP – MNI

China Evaluates Massive Special Treasury Issuance to Stimulate GDP – MNI China Evaluates Massive Special Treasury Issuance to Stimulate GDP – MNI

It is expected that China issue more than 1 trillion yuan (CNY) in Special Treasury Bonds (STB) in the third quarter, to close the fiscal gap and help meet economic and employment goals, reports MNI, citing advisers from policy and market analysts. Industry insiders also called on the central bank to increase liquidity to accommodate […]

China cuts five-year loan rates by 15 basis points

China cuts five-year loan rates by 15 basis points China cuts five-year loan rates by 15 basis points

China has kept the interest rate on one-year loans unchanged at 3.70%.as reported by the People’s Bank of China. The entity has lowered the prime rate on 5-year loans by 15 basis pointsreducing it to 4.45%compared to 4.60% the previous month. This follows a further cut in mortgage interest rates for some homebuyers, in a […]

China: Retail sales and industrial production worse than expected in April

China: Retail sales and industrial production worse than expected in April China: Retail sales and industrial production worse than expected in April

China has released activity data for Aprilincluding retail sales, which the current lockdowns were expected to weigh on, with consensus for a -6.6% yoy decline in April versus -3.5% seen in March. The data has arrived as follows: “Retail sales contracted 11.1% year-on-year in April amid further and stricter curbs on activity due to COVID-19, […]