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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

India Budget 2026: Modi Government Eyes Reforms Amid Global Uncertainty and Fiscal Pressures

Indias central government is set to present its annual budget on Sunday, a closely watched event as Prime Minister Narendra Modis administration seeks to accelerate domestic reforms while navigating rising global...

China Home Prices Rise in January as Government Signals Stronger Support for Property Market

Average prices of new homes across 100 major Chinese cities recorded an increase in January, while price declines in the secondary housing market continued to narrow, according to a private survey. The data suggests early...

South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years

South Koreas exports recorded a strong start to the year, rising for an eighth consecutive month in January and posting their fastest growth in four and a half years, driven largely by booming global demand for AI servers...

Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals

Russian stocks finished Saturdays trading session slightly lower overall, with the benchmark MOEX Russia Index closing unchanged at 0.00% in Moscow. Market sentiment remained cautious as investors weighed mixed...

China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook

Chinas factory activity contracted at the start of the year, highlighting persistent pressure from weak domestic demand despite continued policy support from Beijing. An official survey released on Saturday showed that...

Politics

Trump Says Fed Pick Kevin Warsh Could Win Democratic Support in Senate Confirmation

U.S. President Donald Trump has expressed confidence that his nominee to lead the Federal Reserve, Kevin Warsh, could secure votes from Senate Democrats during what is expected to be a closely watched and potentially...

Christian Menefee Wins Texas Special Election, Narrowing GOP House Majority

Democrat Christian Menefee has won a Texas special election for the U.S. House of Representatives, according to the Associated Press, a result that further tightens Republicans slim majority in the chamber. Menefees...

Trump’s Iraq Envoy Mark Savaya Ousted Amid U.S.-Iraq Tensions Over Iran Influence

Mark Savaya, who was named by U.S. President Donald Trump as special envoy for Iraq in October, is no longer serving in that role, according to multiple sources familiar with the decision. The reported removal comes at a...

Keir Starmer Urges Prince Andrew to Testify in U.S. Epstein Investigation

British Prime Minister Keir Starmer has called for former Prince Andrew to testify before a U.S. congressional committee following new revelations about his long-standing links to disgraced financier and convicted sex...

U.S. Government Enters Brief Shutdown as Congress Delays Funding Deal

The U.S. government entered a partial shutdown early Saturday after Congress failed to finalize a funding agreement before a midnight deadline, temporarily halting a range of federal operations. The shutdown officially...

Science

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Technology

Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate

Speculation around a potential Musk Inc has resurfaced as Elon Musks companiesSpaceX, Tesla, and xAIexplore closer ties amid rapid advances in artificial intelligence and automation. With SpaceX expected to go public later...

SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz

SpaceX delivered a strong financial performance last year, generating an estimated $8 billion in profit on revenues between $15 billion and $16 billion, according to people familiar with the companys results. The figures,...

SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom

SpaceX has revised its Starlink privacy policy to allow customer data to be used for artificial intelligence training, a move that could significantly support Elon Musks broader AI ambitions. The policy change comes as...

Nvidia’s $100 Billion OpenAI Investment Faces Internal Doubts, Report Says

Nvidias ambitious plan to invest up to $100 billion in OpenAI, aimed at supporting the training and operation of next-generation artificial intelligence models, has reportedly hit a roadblock. According to a report...

Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI

A U.S. federal judge has signaled she may dismiss a high-profile lawsuit filed by Elon Musks artificial intelligence startup, xAI, against rival OpenAI, dealing a potential setback to Musk in an escalating legal battle...