CNY news & headlines
Latest breaking stories, features and analysis
- The USD/CNY declined to the lowest level since May 2019 after strong Chinese data.
- China's retail sales rose by 0.5% in August, turning positive for the first time this year.
- Industrial production, unemployment rate, and fixed asset investments were all positive.
Latest CNY news
The USD/CNY pair declined as investors reacted to the mixed manufacturing and non-manufacturing PMI data from China. The pair is trading at 6.8481, which is a few pips above the January low of 6.8412. It is down by more than 4% in the past three months. China manufacturing activity cooled in August The Chinese manufacturing sector expanded in August as the country and the world economy continued to reopen. According to China Logistics, the manufa...
The USD/CNY pair is little changed today as traders react to the rising tensions between the US and China. The pair is also reacting to the relatively strong inflation data from China. US-China tensions rising The USD/CNY pair has been in a downward trend in the past few weeks. The pair has dropped from a high of 7.1768 in May to a low of 6.9335 on Thursday last week. This decline has mostly been because of the overall weakness of the US dollar a...
The USD/CNY pair declined slightly during the Asian session as traders reacted to the upbeat industrial profit data from China and the rising tensions between the US and China. The pair is trading at 7.000, which is an important psychological level. China industrial profits surge The Chinese economy has made a lot of strides in the past few months. This growth was evidenced two weeks ago when the country reported strong second-quarter growth. In...
The USD/CNY pair is little changed today as traders react to the latest GDP data from China. The pair is trading at 6.9960, which is slightly higher than the intraday low of 6.9826. Analysts at Goldman Sachs expect the yuan will rise to 6.70 against the dollar. China returns to growth The USD/CNY pair remained relatively unchanged after China became the first major economy to return to growth in the second quarter. Preliminary data from the stati...
The USD/CNY pair declined by more than 0.25% as traders reflected on the latest inflation data from China. The pair is trading at 6.9861, which is the lowest it has been since March 13. China inflation rises in June The Chinese yuan has been rallying this week. The currency has gained by more than 1.1% in the past three days. And on Monday, it had its best day since December last year. Some analysts attribute the rally to an editorial in a leadin...
The USD/CNY pair is little changed today as traders focus on the improving Chinese economy. The pair is trading at 7.0855, which is higher than last week’s low of 7.0540. Chinese retail sales make modest improvement More people in China went out shopping in May, according to the country’s statistics office. Total retail sales declined by 2.8% to 3,197 billion yuan. This decline was slightly better than the previous decline of 4.7%, a sign that th...
The USD/CNY dropped slightly as investors continued to doubt the strength of the Chinese economy after the statistics office released weak PPI and CPI data. The pair is also awaiting the interest rate decision by the Federal Reserve. China deflation continues China’s factory deflation worsened in May, according to the latest data by the National Bureau of Statistics (NBS). The data showed that the Producer Price Index (PPI) declined by 3.7% in Ma...
The USD/CNY rose slightly after the China Bureau of Statistics released slightly better industrial profit data. The pair is trading at 7.150, which is close to its yesterday’s high of 7.1425. China industrial profits fall China has been affected significantly by the current coronavirus pandemic. Its economy contracted for the first time in decades in the first quarter and the unemployment rate has moved upwards. Similarly, the financial sector ha...
The USD/CNY pair fell after the Chinese statistics office released weak first quarter economic data. The numbers were the first to shed light on the impact of coronavirus to the Chinese economy. The data showed that the economy contracted by 9.8 per cent, which was the worst economic performance in recent memory. Economists polled by Dow Jones were expecting the economy to slide by 9.9 per cent. The economy slowed by 6.8 per cent on an annualized...
The China Federation of Logistics and Purchasing (CFLP) released its monthly report on manufacturing and non-manufacturing purchasing managers’ index (PMI) on Tuesday. The data suggested both sectors to have improved in March following a sharp decline in February that was attributed to the widespread Coronavirus that has so far infected more than 788,200 people worldwide and caused over 37,800 deaths. The CFLP revealed China’s manufac...
Amidst the rising pressure on the economy due to the Coronavirus pandemic, China’s Central Bank took a surprise decision of reducing reverse repurchase agreements rate by 20 basis points. The rate cut marked the largest in around 5 years. According to an announcement via its website, the People’s Bank of China (PBOC) reduced the reverse repo rate (7-day) on Monday from 2.40% to 2.20%. An explanation for the move was not given on the w...
The first two months of 2020 didn’t bring good news for industrial production in China that slumped at the fastest rate in three decades as the Coronavirus emergency continues to wreak havoc on business operations and threaten the second-largest economy of the world. Retail sales and urban investment were also reported to have steeply declined for the first time since record-keeping began. Monday’s data reinforced the forecast that Ch...
China’s factory-gate prices have been in a downward spiral (year over year) in the past six months. While the January’s data broke the streak, analysts remain wary of the recent coronavirus outbreak in China to remove the optimism in the upcoming months. The health emergency has so far killed over 900 people in China. Fueling price pressures, the crisis has also seen consumer inflation at an 8-year high attributed to added restr...
January usually marks a busy season in terms of sales. According to a private-sector survey, however, China’s services sector purchasing managers’ index (PMI) dropped for the second month in a row in January. Wednesday’s data highlighted new orders to have declined with companies having cut prices that led to a 3-month low in services PMI. The Caixin/Markit services PMI was announced at 51.8 for January from a higher reading of...
In collaboration with IHS Markit, Caixin announced China’s manufacturing purchasing managers’ index (PMI) on Monday. The index reported the nationwide factory activity to have expanded at the lowest rate in January since August 2019. Caixin revealed the manufacturing PMI at 51.1 in January that came out marginally lower than the analysts’ expectations of 51.3 this month. The economic data weighed further on CNY in the forex mark...
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,...