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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

PBoC weakens fix to weakest in five years

May 25, 2016 05:59 am UTC| Commentary Central Banks

Peoples Bank of China (PBoC), in response to stronger Dollar has weakened the fix to 6.5693 per Dollar, a level not seen since March, 2011. It has now surpassed the weakest fix level seen in January this year, which led to...

Renminbi Series

Renminbi Series: China’s rebound proving to be short-lived

May 09, 2016 09:35 am UTC| Commentary

According to the data released over the weekend, both Chinese exports and imports shrank in April from a year back. Exports declined as much as 1.8% in USD, while imports declined 10.9%. These indicate March surge has...

Renminbi Series

China’s FX reserves rise moderately in April, USD/CNY forecast to reach 6.7 by 2016-end

May 09, 2016 06:33 am UTC| Commentary Central Banks

China released its FX reserves data for April, along with the foreign trade data. The overall scenario is that the Chinese economy continues to face headwinds, albeit less stronger than in the earlier months, noted Nordea...

Renminbi Series

China’s FX reserves likely declined again in April

May 06, 2016 08:16 am UTC| Commentary Central Banks

Chinas official foreign reserves are likely to have dropped again, although moderately, in April, according to Societe Generale. Chinas FX reserves are expected to have decreased to $3,195 billion in April from $3,212 at...

Renminbi Series

FxWirePro: USD/CNY hovers around key support at 6.4910, intraday bias remains neutral

Apr 27, 2016 08:22 am UTC| Technicals

Pair is currently supported above 6.49 marks and trading around 6.4917 levels. It made intraday high at 6.4925 and low at 6.4880 levels. Today PBOC sets Yuan mid-point at 6.4837/ dollar vs last close...

Renminbi Series

Renminbi Series: State firms’ profits decline reveal vulnerability

Apr 26, 2016 07:21 am UTC| Commentary Economy

Yet another evidence of weakness from China, where conditions seem to have eased in recent times. Rising stock market around the world, makes turmoil at beginning of the year makes a fading memory. House prices are rising...

Renminbi Series

Renminbi Series: Chinese debt fuelling commodities?

Apr 25, 2016 10:09 am UTC| Commentary

As feared governments rise in fiscal deficit is once again started fuelling the debt engines, both private and state owned enterprises. In first quarter alone, new loans have surpassed $1 trillion level. Total debt rose to...

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Economy

German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas

Germanys automotive suppliers are becoming increasingly pessimistic about the industrys outlook, with more companies expecting business conditions to worsen over the next 12 months than those anticipating improvement. A...

Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details

Most Asian currencies traded in a narrow range on Wednesday, while the U.S. dollar remained stable as investors awaited further details on a potential U.S.-Iran peace agreement and the outcome of the Federal Reserves...

Oil Prices Ease as Markets Weigh U.S.-Iran Peace Deal and Strait of Hormuz Reopening

Global oil prices edged lower on Wednesday, extending losses from the previous two sessions as investors continued to evaluate the impact of a newly announced U.S.-Iran peace agreement. However, uncertainty surrounding the...

Asian Stocks Advance as Nikkei Nears Record High Ahead of Fed Decision

Asian stock markets mostly moved higher on Wednesday, led by gains in Japan and Singapore, as investors awaited the U.S. Federal Reserves latest policy decision. Strong performance in technology and semiconductor stocks...

ASX Proposes New Share Dilution Limits for Public Takeovers

The Australian Securities Exchange (ASX) has unveiled significant proposed reforms aimed at strengthening shareholder protections and limiting share dilution during public takeovers and mergers. Under the draft rules...

Politics

Jamaica in Talks With U.S. to Accept Third-Country Deportees Under New Migration Agreement

Jamaica is negotiating a new migration agreement with the United States that would allow the Caribbean nation to temporarily receive third-country migrants deported by U.S. authorities, according to Deputy Prime Minister...

Trump Criticizes Israel's Lebanon Strikes, Urges Greater Civilian Protection

U.S. President Donald Trump publicly criticized Israels military operations in Lebanon, questioning the necessity of destroying entire apartment buildings while targeting Hezbollah militants. Speaking during the G7 summit...

Russian Strikes Kill Four in Eastern and Southeastern Ukraine, Trigger Fires and Damage

Russian attacks on cities in eastern and southeastern Ukraine killed at least four people and injured several others late Tuesday, according to local officials and prosecutors. The latest wave of strikes highlights the...

Brazil Supreme Court Convicts Eduardo Bolsonaro Over U.S. Lobbying Efforts

Brazils Supreme Court has convicted Eduardo Bolsonaro, the son of former Brazilian President Jair Bolsonaro, for seeking foreign interference in legal proceedings involving his father. In a unanimous decision on Tuesday, a...

US-Iran Ceasefire Deal Extends Peace Talks and Eases Oil Trade Restrictions

The United States and Iran have reached an interim agreement aimed at extending peace efforts in the Middle East and reducing tensions following months of conflict. U.S. President Donald Trump confirmed that the deal...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation

Chinese social media platform Xiaohongshu, internationally known as RedNote, is reportedly preparing for a Hong Kong initial public offering (IPO) that could value the company at more than $70 billion. According to a Wall...

Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity

Samsung Electronics is attracting growing attention from major global technology companies as demand for advanced semiconductor manufacturing continues to exceed available capacity at Taiwan Semiconductor Manufacturing Co....

Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business

Kingboard Holdings Ltd. (HK:0148), one of Chinas leading circuit board and laminate manufacturers, announced on Wednesday that its subsidiary, Kingboard Laminates Holdings Ltd. (HK:1888), has entered into a block trade...

SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns

SoftBank Group Corp. (TYO: 9984) shares fell sharply on Wednesday after new reports highlighted growing concerns about OpenAIs financial performance and increasing cash burn, raising questions about the value of SoftBanks...

G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions

Leaders of the Group of Seven (G7) nations are discussing a proposal that could give selected trusted partners access to advanced artificial intelligence models developed by U.S. companies such as Anthropic, according to...