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Why China's Central Bank May Find It Easier To Defend Yuan In Coming Weeks And Ease Currency Woes
Thursday, October 6, 2022 - 7:13am | 398Read More...The offshore yuan’s rally is set to push the onshore unit after trade resumes following China's Golden Week holidays next week. This is expected to ease pressure on the central bank to defend the currency, according to Bloomberg. What Happened: Offshore yuan, which was trading near...
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Fintech Focus For July 1, 2021
Wednesday, June 30, 2021 - 7:07pm | 2232Read More...Quote To Start The Day: “If you do what you’ve always done, you’ll get what you’ve always gotten.” Source: Tony Robbins One Big Thing In Fintech: NYCE Companies formally announced Wednesday a record-breaking $1.31-million raise, as well as the signing of a deal to go...
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Fintech Focus For April 7, 2021
Tuesday, April 6, 2021 - 6:46pm | 2410Read More...Quote To Start The Day: An unexamined life is not worth living. Source: Socrates One Big Thing In Fintech: Fidelity Investments, Square Inc. and several other financial firms are forming a new trade group that aims to shape the way bitcoin and other cryptocurrencies are regulated. Source: WSJ...
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Fintech Focus For March 17, 2021
Tuesday, March 16, 2021 - 8:59pm | 1939Read More...Quote To Start The Day: To succeed in business you must learn the art of saying no. Source: Barbara Corcoran One Big Thing In Fintech: Owning a company’s stock drives brand loyalty and increases spending. That’s according to a Columbia Business School study that analyzed transaction-...
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Fintech Focus For March 3, 2021
Tuesday, March 2, 2021 - 10:57pm | 2042Read More...Quote To Start The Day: Being an entrepreneur is an existential, not just a financial thing. Source: Nassim Nicholas Taleb One Big Thing In Fintech: The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a...
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JD.com Begins Limited Acceptance Of Chinese Digital Yuan Currency
Saturday, December 5, 2020 - 10:45am | 270Read More...Chinese e-commerce giant and Alibaba Group Holding Ltd (NYSE: BABA) competitor JD.com, Inc. (NASDAQ: JD) will become China's first platform to begin accepting a digital version of the country's currency, according to Reuters. What Happened: Reuters reported that the company will accept...
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US To End Designation Of China As Currency Manipulator, Reports Say
Monday, January 13, 2020 - 1:10pm | 231Read More...The United States will no longer consider China a currency manipulator, according to media reports. The move helps pave the way for a trade deal the countries are expected to sign in the coming days. Bloomberg said Monday that Trump administration sources said the Treasury Department will lift the...
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Understanding The Economics Behind Currency Wars
Thursday, August 22, 2019 - 3:43pm | 501Read More...A number of underlying forces drive currency moves. The U.S. government has accused China of gaining an unfair economic advantage by forcing the yuan lower. In the U.K., the drop in the sterling over the past month is also viewed by many as an economic headwind. The main beneficiaries of a weaker...
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What Happens When A Country Manipulates Its Currency?
Wednesday, August 7, 2019 - 10:05am | 788Read More...A major part of China’s response to the latest tariff threats by President Donald Trump was to reduce the value of its currency to its lowest level relative to the dollar of the past decade. Trump fired back by having the Treasury Department officially name China a “currency manipulator...
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How A Stronger Dollar Impacts The US Economy
Tuesday, October 16, 2018 - 4:28pm | 1287Read More...The U.S. Dollar Index, which measures the value of the U.S. dollar against a basket of foreign currencies, has gained about 3.2 percent year-to-date through Oct. 11. This is where the greenback stands year-to-date against other major currencies: Euro: +3.4 percent Pound: +2.1 percent...
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After Hitting New All-Time Highs, Bitcoin Plunged 23%
Thursday, January 5, 2017 - 2:56pm | 272Read More...The price of the digital currency bitcoin quietly hit a new all-time high Wednesday at $1,161.89. The move to an all-time high was short lived, however, as the price of one bitcoin fell as low as $888.99 on Thursday. At its peak lows, bitcoin was lower by nearly 25 percent. By 1:15 p.m. ET on...
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China Markets Open Lower; U.S. Fed Meeting In Focus
Tuesday, December 13, 2016 - 12:09am | 293Read More...Chinese stocks were trading lower on Tuesday. The Shanghai Composite Index dropped 21.4 points, or 0.68 percent to 3,131.60, while the Shenzhen composite fell 0.61 percent to 511.82. iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares fell 2.30 percent to close at $36.61 on Monday,...
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China Stocks Tumble; Shanghai Composite Index Down Over 2%
Monday, December 12, 2016 - 1:13am | 258Read More...Chinese stocks were trading lower on Monday. The Shanghai Composite Index dropped 67.6 points, or 2.09 percent to 3,165.29, while the Shenzhen composite fell 2.9 percent to 523.32. iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares fell 0.58 percent to close at $37.47 on Friday,...
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Casino Stocks Bounce Back As Chinese Government Clarifies No Change To Macau Daily ATM Withdrawal Limit
Friday, December 9, 2016 - 11:02am | 402Read More...The Chinese government took casino investors on a wild ride Thursday when the imposition of new ATM transaction limits in Macau caught the market by surprise. The Drop Shares of Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL), Wynn Resorts, Limited (NASDAQ: WYNN), Las Vegas Sands Corp. (NYSE:...
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China Stocks Edge Lower Following Trade Data
Thursday, December 8, 2016 - 12:16am | 302Read More...Chinese stocks were trading slightly lower on Thursday. The Shanghai Composite Index dropped 2.03 points, or 0.06 percent to 3,220.21, while the Shenzhen composite fell 0.09 percent to 541.28. China’s trade balance came in at CNY298.111 billion for November, versus expectations of CNY 320...
