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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

Peru’s Central Bank Holds Interest Rate at 4.75% Amid Inflation Stabilization

Perus central bank kept its benchmark interest rate steady at 4.75% on Thursday, aligning with market expectations. The decision follows a gradual easing cycle since September 2023, when the rate peaked at 7.75%, making...

Wall Street Rebounds After S&P 500 Correction Amid Trade War Tensions

U.S. stock futures edged higher Thursday night after Wall Street saw the SP 500 slip into correction territory. SP 500 Futures rose 0.5% to 5,553.0 points, Nasdaq 100 Futures gained 0.6% to 19,359.50, and Dow Jones Futures...

Dollar Gains as Trade Tensions Rise, Euro Slides from Five-Month High

The U.S. dollar strengthened on Friday as escalating global trade tensions and economic slowdown fears weighed on markets. The euro slipped to $1.0847, retreating further from Tuesdays five-month peak, as a trade dispute...

Vietnam Reviews U.S. Import Tariffs Amid Trade Imbalance Concerns

Vietnam is reviewing import duties on U.S. goods, including liquefied natural gas (LNG), agricultural products, and high-tech exports, in an effort to balance trade relations with the United States. Prime Minister Pham...

Oil Prices Climb as U.S. Tightens Iran Sanctions, But Weekly Losses Loom

Oil prices edged higher in Asian trading on Friday after the U.S. imposed fresh sanctions on Iranian oil, but both Brent and WTI crude were set for weekly losses amid supply concerns. Brent crude futures for May delivery...

Politics

U.S. Wine Industry Faces Crisis Over Proposed 200% Tariffs on European Imports

The U.S. wine industry is bracing for a major blow as President Donald Trumps proposed 200% tariff on European alcoholic beverages threatens importers, distributors, and retailers. While Trump claims the tariffs will boost...

Russia Seeks to Exclude U.S. Envoy Kellogg from Ukraine Talks

Russian officials have requested that Keith Kellogg, the U.S. envoy for Russia-Ukraine negotiations, be excluded from high-level discussions on ending the war, according to a U.S. official and another informed source....

Schumer Backs GOP Stopgap Bill to Prevent Government Shutdown

U.S. Senate Democratic Leader Chuck Schumer announced he would vote to advance a Republican-backed stopgap funding bill, signaling bipartisan efforts to prevent a government shutdown. The bill, passed by the GOP-led House,...

Putin Signals Conditional Support for U.S. Ceasefire Proposal in Ukraine

Russian President Vladimir Putin expressed support for a U.S.-proposed ceasefire in Ukraine but insisted on key conditions, raising doubts about an immediate resolution. The war, which began in February 2022, has caused...

Trump Revives Greenland Annexation Talk, Citing National Security

President Donald Trump reaffirmed his push for U.S. control of Greenland, telling NATO Secretary-General Mark Rutte that the Arctic island is essential for international security. You know, Mark, we need that for...

Science

Leonardo da Vinci’s incredible studies of human anatomy still don’t get the recognition they deserve

Wikimedia, CC BY-SA The mere mention of Leonardo da Vinci evokes genius. We know him as a polymath whose interests spanned astronomy, geology, hydrology, engineering and physics. As a painter, his Mona Lisa and Last Supper...

One of the largest searches for alien life started 30 years ago. Its legacy lives on today

In February 1995, a small research organisation known as the SETI Institute launched what was then the most comprehensive search for an answer to a centuries-old question: are we alone in the universe? This Sunday marks...

South African telescope discovers a giant galaxy that’s 32 times bigger than Earth’s

Inkathazos glowing plasma jets are shown in red and yellow. The starlight from other surrounding galaxies can be seen in the background. K.K.L Charlton (UCT), MeerKAT, HSC, CARTA, IDIA, CC BY You may not know it, but right...

It’s science, not fiction: high-tech drones may soon be fighting bushfires in Australia

Picture this. Its a summer evening in Australia. A dry lightning storm is about to sweep across remote, tinder-dry bushland. The next day is forecast to be hot and windy. A lightning strike tonight could spark a fire that...

Earth is bombarded with rocks from space – but who gets to keep these ultimate antiques?

Every day, about 48.5 tonnes of space rock hurtle towards Earth. Meteorites that fall into the ocean are never recovered. But the ones that crash on land can spark debates about legal ownership. Globally, meteorite hunting...

Technology

NASA and SpaceX Set to Launch Crew-10 Mission to ISS on March 14

NASA and SpaceX are gearing up for the highly anticipated Crew-10 mission, scheduled to launch on Friday, March 14, at 7:03 p.m. EDT (2303 GMT). The mission will carry four astronauts to the International Space Station...

Apple’s Encryption Clash with UK Sparks U.S. Investigation

British and U.S. officials have engaged in private talks over concerns that the UK is pressuring Apple (NASDAQ:AAPL) to weaken encryption protections, Bloomberg reported. The discussions follow Apples decision to remove...

India May Limit Starlink’s Satellite Spectrum to 5 Years, Defying Musk’s 20-Year Request

Indias telecom regulator, TRAI, is set to recommend a five-year allocation for satellite broadband spectrum, challenging Elon Musks Starlink, which sought a 20-year permit. This move aims to assess market adoption before...

WeRide Expands Robotaxi Services in Beijing After Securing Key Permit

WeRide Corp (NASDAQ: WRD) has received approval to launch commercial robotaxi services in Beijing, marking a significant milestone in its autonomous ride-hailing expansion. The newly granted permit allows WeRide to operate...

SpaceX Delays NASA Crew-10 Launch Amid Technical Issue, Stranded Astronauts Await Return

SpaceX postponed the NASA Crew-10 mission set to bring back astronauts stranded on the International Space Station (ISS), citing a technical issue. The launch, originally scheduled for Wednesday night from Kennedy Space...