CNY news
- The USD/CNY rose to highest level since October last year after China released industrial profit data.
- The data showed that industrial profits declined by 4.30% in April and by 27.9% from January to April.
- The decline was slightly better than the 34.90% decline in March.
Latest CNY news
The National Bureau of Statistics revealed its January’s report on the official manufacturing Purchasing Managers’ Index (PMI) for China. According to the report, manufacturing PMI matched the analysts’ forecast of 50.0 in January. In the previous month, the figure was recorded at a marginally higher 50.2. As a standard, PMI readings below 50 are construed as contraction. At 50.0 in January, China’s factory activity remain...
China’s National Bureau of Statistics revealed the Gross Domestic Product (GDP) report on Friday. The data posted the economic growth in 2019 at the weakest in almost three decades. As per the experts, the ongoing trade war with the United States of America has weighed heavily on China’s economy at large. With the start of the new year and a phase 1 trade deal having been recently signed between the two largest economies of the world,...
As of Tuesday, the Treasury Department of the United States has officially revoked its statement that branded China as a currency manipulator in August. Following the announcement, the Chinese Yuan was seen gaining traction and recorded a new high in the past 7 months. The phase 1 trade deal between the United States and China is set to be signed on Wednesday. As per the sources, Chinese Vice Premier Liu He has already landed in Washington to off...
The phase 1 trade deal between the United States of America and China have been finalized and to be signed later this week. Nonetheless, several economic disputes between the two parties are yet to be resolved. Following the escalation of the trade war between the U.S and China, the Trump administration had announced to forfeit the semi-annual talks between the two countries that were originally targeted at resolving such disputes. With the phase...
The president of the United States of America, Donald Trump, had recently announced his plans of pushing the second phase of negotiations with China to after the U.S presidential elections 2020 scheduled for November. A Chinese expert who works closely with the government on the trade negotiations, Gao Lingyun, stated on Friday in an interview with Global Times that a phase 2 trade deal between the two largest economies of the world after Novembe...
Markit/Caixin revealed China’s Purchasing Managers’ Index (PMI) on Thursday that announced the manufacturing activity in the country to have expanded in December. The figure, however, came shy of the analysts’ estimate as well as the figure posted in November. The report announced the Caixin PMI at 51.5 for the last month. Noting a figure above 50 represented continued expansion in the manufacturing activity. Analysts, however,...
Washington announced on Tuesday that Chinese representatives have been invited to the White House on January 15th to sign the phase 1 trade deal. The specifics of the trade deal, however, still remain to be revealed. As per Trump’s tweet, he plans on visiting Beijing after the deal is signed in order to extend the negotiations for the next phase. The details of the deal divulged so far include the United States of America reducing tariffs o...
Global financial markets have taken directions from the U.S China trade war in well over a year. Through a myriad of minor and major complications, it now seems that the two largest economies of the world will soon be signing a phase 1 trade deal. According to an official statement by China’s Commerce Ministry, the authorities have been successful in proactively dealing with the previously risen trade frictions in 2019. In its annual work c...
The clouds of uncertainty are finally fading away from the long-held trade dispute between the United States of America and China. Following an official declaration from Washington and Beijing that a phase 1 trade deal has been finalized, the State Council’s customs tariff commission of China announced on Sunday that the additional tariffs which were scheduled to go live on the American imports on December 15th have been suspended. China Pr...
In an attempt to dilute the trade war, China announced on Thursday that it is willing to increase its purchase of U.S agricultural products to $50 billion in the upcoming year. In response, the United States of America reciprocated with lifting tariffs from a few of the Chinese products while reducing them on others. China To Purchase $50 Billion Of American Agricultural ProductsAs per the sources, the White House has expressed inclination toward...
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