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Samson » August 26th, 2019
Trade war hits Chinese yuan - 11-year low
2019/8/26 8:29
The Chinese yuan hit a fresh 11-year low against the US dollar on Monday amid concerns over a trade war that is also threatening a global recession, weighing on financial markets.
The yuan has fallen to 7.14 against the dollar, the lowest since the beginning of 2008 in Asian trading. Global economic tensions have intensified in recent days as the United States and China raise tariffs on each other's goods, and President Donald Trump calls on US companies to withdraw from China. China restricts the conversion of the yuan, which cannot be freely disbursed.
In recent weeks, the People's Bank of China has been steadily depreciating the yuan, setting it at 7.057 against the dollar. Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of US punitive duties.
The yuan crossed the minimum threshold of 7.0 against the dollar earlier in August, days after the United States announced plans to impose new tariffs on Chinese goods from September 1. The drop from the 7.0 threshold prompted Washington to accuse Beijing of "currency manipulation", but the Chinese central bank "firmly opposed" the designation. LINK
China ready to resolve trade dispute with US through dialogue
2019/8/26 8:37
Beijing is ready to resolve its trade dispute with the United States through calm negotiations and firmly opposes escalation of the conflict, the government-backed Chongqing Morning Post reported on Monday.
China's top trade negotiator Liu made the remarks at a technology conference in southwest China's Chongqing.
The comments came after US President Donald Trump announced last week a 5 percent surcharge on some $ 550 billion worth of Chinese goods, the latest move announced hours after China unveiled tariffs on 75 billion US products. Dollars as a retaliatory measure. LINK
The trade war between America and China is causing oil prices to fall
26th August, 2019
Oil prices fell Monday, pushing US crude to its lowest level in more than two weeks, which caused the Sino - US trade war intensified in the broadcast of confidence in the global economy.
Brent crude fell 63 cents, or 1.1%, to $ 58.71 a barrel by 0232 GMT, after earlier reaching $ 58.24, the lowest level since August 15. The price of US oil fell 68 cents, or 1.3%, to $ 53.49 a barrel, after earlier falling to $ 52.96, the lowest level since August 9. Concerns about the economic slowdown have been raised by mounting trade tensions between the United States and China. The Chinese Ministry of Commerce said late last week it would impose an additional tariff of 5% or 10% on a total of 5,078 US products, including crude oil and agricultural products such as soybeans and small aircraft.
In response, President Donald Trump said he was asking US companies to look for ways to shut down operations in China and make products in the United States.
"The only thing that will lift the storm clouds on the oil markets this week is that China and the US talk and decide to take a reciprocal step," said Jeffrey Haley, a market analyst in Oanda. “I can't see it happening.” The US economy is in a “right place” and the Fed will “act as necessary” to keep the current economic expansion on track, US Federal Reserve Chairman Jerome Powell told an annual economic seminar in Jackson Hole, Wyoming. " Statements and gave some clues about whether the central bank will cut interest rates at its next meeting. But adding to concerns about a possible recession, US manufacturing industries recorded the first month of deflation in nearly a decade.
The Brent / WTI spread was minus $ 5.24, after widening 60 cents to settle at $ 5.17 on Friday.The spread exploded after China included US oil for the first time in its customs moves. The US Commodity Futures Trading Commission (CFTC) said hedge funds and other money managers raised their bullish bets on US crude to a three-month high in the past week. LINK
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
Samson » August 26th, 2019
Trade war hits Chinese yuan - 11-year low
2019/8/26 8:29
The Chinese yuan hit a fresh 11-year low against the US dollar on Monday amid concerns over a trade war that is also threatening a global recession, weighing on financial markets.
The yuan has fallen to 7.14 against the dollar, the lowest since the beginning of 2008 in Asian trading. Global economic tensions have intensified in recent days as the United States and China raise tariffs on each other's goods, and President Donald Trump calls on US companies to withdraw from China. China restricts the conversion of the yuan, which cannot be freely disbursed.
In recent weeks, the People's Bank of China has been steadily depreciating the yuan, setting it at 7.057 against the dollar. Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of US punitive duties.
The yuan crossed the minimum threshold of 7.0 against the dollar earlier in August, days after the United States announced plans to impose new tariffs on Chinese goods from September 1. The drop from the 7.0 threshold prompted Washington to accuse Beijing of "currency manipulation", but the Chinese central bank "firmly opposed" the designation. LINK
China ready to resolve trade dispute with US through dialogue
2019/8/26 8:37
Beijing is ready to resolve its trade dispute with the United States through calm negotiations and firmly opposes escalation of the conflict, the government-backed Chongqing Morning Post reported on Monday.
China's top trade negotiator Liu made the remarks at a technology conference in southwest China's Chongqing.
The comments came after US President Donald Trump announced last week a 5 percent surcharge on some $ 550 billion worth of Chinese goods, the latest move announced hours after China unveiled tariffs on 75 billion US products. Dollars as a retaliatory measure. LINK
The trade war between America and China is causing oil prices to fall
26th August, 2019
Oil prices fell Monday, pushing US crude to its lowest level in more than two weeks, which caused the Sino - US trade war intensified in the broadcast of confidence in the global economy.
Brent crude fell 63 cents, or 1.1%, to $ 58.71 a barrel by 0232 GMT, after earlier reaching $ 58.24, the lowest level since August 15. The price of US oil fell 68 cents, or 1.3%, to $ 53.49 a barrel, after earlier falling to $ 52.96, the lowest level since August 9. Concerns about the economic slowdown have been raised by mounting trade tensions between the United States and China. The Chinese Ministry of Commerce said late last week it would impose an additional tariff of 5% or 10% on a total of 5,078 US products, including crude oil and agricultural products such as soybeans and small aircraft.
In response, President Donald Trump said he was asking US companies to look for ways to shut down operations in China and make products in the United States.
"The only thing that will lift the storm clouds on the oil markets this week is that China and the US talk and decide to take a reciprocal step," said Jeffrey Haley, a market analyst in Oanda. “I can't see it happening.” The US economy is in a “right place” and the Fed will “act as necessary” to keep the current economic expansion on track, US Federal Reserve Chairman Jerome Powell told an annual economic seminar in Jackson Hole, Wyoming. " Statements and gave some clues about whether the central bank will cut interest rates at its next meeting. But adding to concerns about a possible recession, US manufacturing industries recorded the first month of deflation in nearly a decade.
The Brent / WTI spread was minus $ 5.24, after widening 60 cents to settle at $ 5.17 on Friday.The spread exploded after China included US oil for the first time in its customs moves. The US Commodity Futures Trading Commission (CFTC) said hedge funds and other money managers raised their bullish bets on US crude to a three-month high in the past week. LINK
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
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