Source: Reuters The Chinese yuan strengthened against the dollar on Wednesday after the central bank said it would not go for flood-like stimulus. The country’s blue-chip shares plunged. USDCNY is down -0.15%, CSI 300 is down -0.41%. The People’s Bank of China said it will maintain a prudent monetary policy and sees no shortage of base money.Following the central bank’s … [Read more...] about Chinese Yuan Gains as Central Bank Cools Markets Over Policy Easing
Forex News
Japan’s Second-Quarter Economic Growth Adjusted to 1.9%
Source: Cabinet Office Japan’s economic growth in the second quarter was revised upward to 1.9% from the earlier announced 1.3%, cementing the country’s rebound from the COVID-19 pandemic. EWJ is up 0.15% premarket. Quarter-on-quarter growth was also revised higher to 0.5% from 0.3%.Domestic demand was adjusted higher to 0.8% from 0.6%, reflecting the higher public demand … [Read more...] about Japan’s Second-Quarter Economic Growth Adjusted to 1.9%
UK House Prices Carve Fresh Record Highs. Growth Slows to Five-Month Low
Source: Halifax House prices in the United Kingdom soared to record-highs for the second straight month in August, even as growth slowed for the third straight month. IUKP is down 0.16%. Average house prices stood at £262,964 in August, surpassing the previous high of £23,600 recorded in May. This is also higher than the £245,602 in August 2020.Average house prices remain … [Read more...] about UK House Prices Carve Fresh Record Highs. Growth Slows to Five-Month Low
China’s Exports and Imports Beat Forecasts. Trade Surplus at $58.34B in August
Source: National Bureau of Statistics China’s exports rose by 25.6% year over year in August, a better-than-expected gain of 17.1% to fuel the economy to a trade surplus of $58.34 billion. The surplus was higher than the expected $51.05 billion. CSI 300 is up +1.20%, USDCNY is up +0.09%. The annual gain in exports was higher than July’s surge of 19.3%, while the trade … [Read more...] about China’s Exports and Imports Beat Forecasts. Trade Surplus at $58.34B in August
Euro Zone Growth Revised as Consumer Spending Recovers Sharply
Source: Eurostat. The euro zone economy increased by more than initially estimated in the second quarter of the year, with consumer rebounding sharply after two quarters of decline during pandemic lockdowns. Euro Stoxx 50 down -0.31%, EUR USD up +0.06% Eurostat stated that gross domestic product in the 19 countries sharing the euro increased by 2.2% quarter-on-quarter for … [Read more...] about Euro Zone Growth Revised as Consumer Spending Recovers Sharply
