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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

FxWirePro: Chinese yuan marginally lower in early hours of Asia, PBOC sets yuan mid-point at 6.9459

Dec 26, 2016 02:28 am UTC| Technicals

USD/CNY is currently trading around 6.9484 marks. It made intraday high at 6.9485 and low at 6.9429 levels. Intraday bias remains neutral till the time pair holds key support at 6.9343 mark. A sustained...

Renminbi Series

Goldman Sachs warns on China risks and further Yuan decline

Dec 23, 2016 06:43 am UTC| Commentary Economy

US investment Bank Goldman Sachs has warned that China remains a key risk for the global economy in 2017. According to the bank, there were serious growth concerns in the short term in 2016, however, policymakers...

Renminbi Series

Renminbi Series: China yield curve review post US election

Dec 22, 2016 07:08 am UTC| Commentary Economy

Chinas bond market has been rattling in recent times, especially after the US election that has led to a surge in the dollar and US stocks as investors shun the safety of bonds. The recent strength of the dollar, which has...

Renminbi Series

Direct trading between Yuan and 7 other currencies to commence from Dec 12: PBOC

Dec 09, 2016 14:41 pm UTC| Commentary Economy Central Banks

The Chinese central bank, PBOC, has agreed to establish direct trading between its yuan currency and seven foreign currencies. In an announcement made on its website earlier today, the central bank noted that China will...

Renminbi Series

Why capital is fleeing China and what it means for Australia

Dec 09, 2016 03:57 am UTC| Insights & Views

Foreign reserves at the Peoples Bank of China (PBoC), Chinas central bank, fell for the fifth consecutive month in November, dropping by US$69.1 billion to US$3.1 trillion. This is a level not seen since 2011, with...

Renminbi Series

Chart of the Day Series

Chart of the Day: Yuan Yo Yo

Dec 06, 2016 16:52 pm UTC| Commentary

This chart from Bloomberg shows the jitters in the yuan market today morning. The googlesearch for yuan exchange rate was showing anerroneous value of 7.48 yuan per dollar at a time when the yuan was trading around 6.87...

Renminbi Series

Renminbi Series: Devaluation from Google

Dec 06, 2016 08:44 am UTC| Commentary

Today Peoples Bank of China (PBoC) announced the level of the yuan fix 0.43 percent stronger compared to Mondays level at 6.8575 per dollar. As of now, the yuan is trading at 68747, up 0.06 percent for the day. Offshore...

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Economy

Gold Prices Rise as Oil Slump Eases Fed Rate Hike Fears

Gold prices climbed on Tuesday as a sharp decline in oil prices eased inflation concerns and reduced expectations for additional Federal Reserve interest rate hikes. A softer U.S. dollar and renewed hopes for diplomacy...

Oil Prices Rise as U.S.-Iran Talks Fuel Diplomacy Hopes

Oil prices moved higher in Asian trading on Tuesday, snapping a four-session losing streak as investors assessed the possibility of renewed U.S.-Iran talks during this weeks United Nations General Assembly in New York....

Vietnam, US Trade Deal Could Be Signed Soon, To Lam Says

Vietnam and the United States have made positive progress in negotiations toward a new trade agreement, with a deal potentially ready to be signed soon, Vietnamese leader To Lam said, according to a government statement...

Canada Unveils Bill to Fast-Track Major Resource Projects

Canada unveiled draft legislation on Monday aimed at accelerating approvals for major natural resource and infrastructure projects, as Prime Minister Mark Carney seeks to strengthen economic growth and reduce the countrys...

Yen Weakens as Dollar Gains on Widening US-Japan Rate Gap

The Japanese yen remained under pressure against a firm U.S. dollar on Tuesday as traders focused on the widening interest rate gap between Japan and other major economies following a hawkish shift among global central...

Politics

Macron, Trump Discuss Ukraine-Russia Energy Strike Moratorium

French President Emmanuel Macron said Monday that he discussed potential measures with U.S. President Donald Trump aimed at securing a moratorium on energy-related attacks between Ukraine and Russia, as diplomatic efforts...

Burnham Eyes UK Leadership Role in AI Ahead of Trump Meeting

British Prime Minister Andy Burnham will push for the UK to take a global leadership role in artificial intelligence on Tuesday as he makes his first major appearance on the international diplomatic stage at the United...

US Plans Two New Military Bases in Greenland Under Arctic Deal

The United States plans to expand its military presence in Greenland by reopening a Cold War-era base in the south and establishing operations at another site on the islands east coast, according to people familiar with a...

US, Denmark and Greenland Set to Sign Arctic Security Deal

Denmark, Greenland and the United States are set to sign a new Greenland security agreement on Tuesday that could expand the US military presence while placing broader Arctic security under NATO oversight. The signing is...

UK, Mauritius Seek Diego Garcia Base Deal

British Prime Minister Andy Burnham has pledged to work with Mauritius and the United States to resolve the dispute surrounding the strategically important Diego Garcia military base in the Indian Ocean. Burnham spoke with...

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

US Northeast Airports Resume Operations After Telecom Outage Disrupts Thousands of Flights

US airport operations across the Northeast began returning to normal on Monday after crews repaired telecommunications problems that had disrupted air traffic and contributed to thousands of flight delays and cancellations...

OpenAI Urges US-Led Global Standards for Frontier AI

OpenAI is calling for the United States to lead an international effort to establish technical standards for advanced artificial intelligence, as concerns grow over increasingly capable AI systems and the prospect of...

Meta Partners With Shopify to Bring Shop Pay Checkout to Muse AI

Meta Platforms CEO Mark Zuckerberg announced a new partnership with Shopify aimed at bringing agentic shopping and checkout capabilities to Metas recently launched Muse artificial intelligence platform. Zuckerberg said...

SoftBank Launches $11 Billion Bond Sale to Fund OpenAI Investment

SoftBank Group Corp. has launched a major bond offering worth $10 billion and 1 billion to finance its latest investment in OpenAI, according to a term sheet released Monday. The Japanese technology investment group is...

Trump Plans Federal AI Force and AI Czar

U.S. President Donald Trump said Saturday that he plans to create a federal AI Force and appoint an artificial intelligence czar, outlining an effort to accelerate U.S. AI development while using existing laws to address...