The Chinese yuan is strengthening against its US counterpart midweek, despite new data that shows the worldâs second-largest economy had a worse December than the market had anticipated. This is leaving some central bankers to forecast a slower-than-expected fourth-quarter, which is not something the nationâs leadership wants to hear as it ignites a wave of stimulus measures. The Caixin/Markit Manufacturing Purchasing Managersâ Index (PMI) declined to 49.7 in December, … “Chinese Yuan Strengthens Despite Weak Manufacturing Data”
Month: January 2019
Sterling Pound Falls Despite Upbeat UK Manufacturing PMI
The British pound today fell to new 2-day lows against the US dollar amid a risk-off market sentiment, which favored the US dollar. The GBP/USD currency pair today broke the crucial 1.2700 support level as the markets continued to react to the uncertainty facing the UK economy due to the looming Brexit date. The GBP/USD currency pair today … “Sterling Pound Falls Despite Upbeat UK Manufacturing PMI”
US Dollar Hit by Weaker Manufacturing Data
The US dollar is kicking off 2019 lower against some of its major currency rivals. On Tuesday, the greenback took a slight hit on weaker December manufacturing data, as well as markets forecasting a more dovish Federal Reserve this year. Can the buck mirror its incredible but surprising performance from 2018? Or it will retreat amid political turmoil and geopolitical tensions? For the first time since May 2016, five … “US Dollar Hit by Weaker Manufacturing Data”