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Renminbi Series

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Over the past decade, China has emerged as global superpower of economics and Geo-politics. Chinese currency Yuan has emerged as top contender to Challenge global dominance of Dollar. This year in Yuan might join International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket, strengthening Yuan’s position as global reserve currency. In this series, we discuss about China, its politics, economics, and vulnerabilities with a view of Renminbi.

Renminbi Series

Renminbi series: Yuan loses its global payment status

Mar 24, 2016 08:29 am UTC| Commentary

As an effect of economic stagnation, uncertainties, higher volatilities and surprised devaluation of Yuan in August last year and large depreciation in January this year, Yuan is losing its stature in global payment...

Renminbi Series

FxWirePro: Chinese Yuan depreciates as People's Bank of China sets Yuan reference rate higher

Mar 24, 2016 07:35 am UTC| Technicals

USDCNY is currently trading around 6.5130 levels. It made intraday high at 6.5138 and low at 6.5035 levels. The Peoples Bank of China set the Yuan reference rate at 6.5150 today, up from Wednesdays midpoint of...

Renminbi Series

Renminbi series: Zhou warns on corporate debt

Mar 21, 2016 09:45 am UTC| Commentary

Peoples Bank of China (PBoC) Governor, Zhou Xiaochuan, in a speech over the weekend has warned against Chinas high level of corporate debt. According to Mr. Zhou, Chinas high levels of corporate debt are too high and pose...

Renminbi Series

Renminbi series: Chinese property market, recovering or overheating?

Mar 21, 2016 08:59 am UTC| Commentary Real Estate Economy

Since mid-last year, property prices in China is going through steady rise in prices. According to latest data overall property prices are up 3.6% in February. This price rise has been steady since mid of last year and...

Renminbi Series

Chinese Yuan hits fresh 2- month gain against US dollar as PBoC again raised the Yuan fixing

Mar 18, 2016 08:10 am UTC| Technicals

USDCNY is currently trading at 6.4644 levels. It made intraday high at 6.4728 and low at 6.4628 levels. Intraday bias remains bearish for the moment. PBoC raised its fixing rate by the most since last...

Renminbi Series

Strengthening Yuan fix not having polar effects of weakening

Mar 18, 2016 08:06 am UTC| Commentary

Today, Peoples Bank of China (PBoC) strengthen Yuan by most since November 2nd last year. This morning, before market opens in Shanghai, it was fixed at 6.4628 against Dollar, an increase of 0.51%. Central bank allows...

Renminbi Series

Chinese Yuan falls after the comments from Premier Li Keqiang

Mar 16, 2016 04:41 am UTC| Technicals

USD/CNY is currently trading around 6.5180. It made intraday high at 6.5183 and low at 6.5128 levels. Intraday bias remains bullish for the moment. China Premier Li Keqiang said on Wednesday that Chinas 2016...

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Economy

Nigerians throw naira notes around to show love: but it could land you in jail

The legal implication of physically damaging the naira, Nigerias currency, came into focus recently with the prosecution of at least two celebrities by the countrys Economic and Financial Crimes Commission. Nigeria has a...

The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today’s globalized system

Given the spate of news about international trade lately, Americans might be surprised to learn that the U.S. isnt very dependent on it. Indeed, looking at trade as a percentage of gross domestic product a metric...

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Politics

Sudan’s civil war is rooted in its historical favouritism of Arab and Islamic identity

The current civil war in Sudan goes beyond a simple power struggle between two generals. It reflects a deep-rooted crisis within the countrys governing structure thats been present since it gained independence from the...

South Africa’s youth are a generation lost under democracy – study

South African president Cyril Ramaphosa recently painted a rosy picture in which the countrys youth democracys children had enormous opportunities for advancement, all thanks to successive post-apartheid governments led...

Sadiq Khan on track for third term as London mayor – but nearly half of Londoners dissatisfied with performance

Polls have consistently shown that the incumbent mayor of London, Sadiq Khan, appears to be on track to win a third term in office at the upcoming mayoral elections on May 2. One poll we commissioned as part of our...

The politics stopping the UK from opening a youth mobility scheme with Europe

Earlier this week, it seemed possible that young people in the UK might soon be able to travel freely to work and live in Europe again. The European Commission laid out proposals to open mobility to millions of 18- to...

Biden administration tells employers to stop shackling workers with ‘noncompete agreements’

Most American workers are hired at will: Employers owe their employees nothing in the relationship except earned wages, and employees are at liberty to quit at their option. As the rule is generally stated, either party...

Science

IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects

About a trillion tiny particles called neutrinos pass through you every second. Created during the Big Bang, these relic neutrinos exist throughout the entire universe, but they cant harm you. In fact, only one of them is...

The Mars Sample Return mission has a shaky future, and NASA is calling on private companies for backup

A critical NASA mission in the search for life beyond Earth, Mars Sample Return, is in trouble. Its budget has ballooned from US$5 billion to over $11 billion, and the sample return date may slip from the end of this...

Dark matter: our new experiment aims to turn the ghostly substance into actual light

A ghost is haunting our universe. This has been known in astronomy and cosmology for decades. Observations suggest that about 85% of all the matter in the universe is mysterious and invisible. These two qualities are...

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Technology

Justin Sun Dominates Swell L2 with 46% of Deposits in eETH

Justin Sun, founder of Tron, has again surged into the limelight, this time for his colossal cryptocurrency deposits. The crypto tycoon, utilizing the pseudonymous address 0x7a9…3095, recently funneled a staggering...

Leaked: New Huawei Luxeed SUV Images Fuel Anticipation for Tech Upgrades

Recently leaked photos allegedly showcasing the Huawei Luxeed SUV have ignited speculation over the vehicles advanced features and smart technology, potentially setting a new benchmark in the automotive...

Bitfinex CTO Deems Database Breach Claims 'Fake' Amidst Hacker Allegations

Bitfinexs Chief Technology Officer Paolo Ardoino has cast doubts on claims of a database breach by hacker organization FSOCIETY, branding the allegations as fake. Ardoino refuted the purported leak of 22,500 user emails...

Walmart Spotted with Tesla Semi in California as True Launch Date Revealed

Walmarts adoption of a Tesla Semi hit the California highways, signaling the electric trucks expanding reach. The sighting follows Teslas revelation of a late 2025 and early 2026 launch window for the highly anticipated...

Altcoin Market Rally Predicted, Analysts Forecast $4 Trillion Market Cap Surge

Analysts are predicting a substantial rally in the altcoin market, with projections indicating a surge that could drive the market cap to an impressive $4 trillion. This optimistic outlook is supported by positive economic...