An index that will rock USD
The United States will publish the ISM Non-Manufacturing PMI on Thursday, January 6, at 17:00 GMT+2 (MetaTrader time).
China gives birth to yuan-ruble payment system
China has already rolled out a payment versus payment (PVP) system for Russian ruble and Chinese yuan transactions for the purpose of reducing risks and improving the overall efficiency of its foreign exchange transactions.
The fresh PVP system for ruble and yuan transactions was officially launched on Monday after getting approval from China's major financial institution.
That’s the first time a PVP system has been created for trading the yuan as well as foreign currencies, as follows from the statement, published on the website of the China Foreign Exchange Trade System on Wednesday.
The settlement of transactions in two different currencies at the same time – that’s what new PVP system ensures.
As CFETS told, the system would diminish settlement risk and also the risk of transactions occurring in different time zones. In addition to this, it’s expected to improve foreign exchange market efficiency.
Similar
News from US central bank
The Federal Reserve (FOMC), US central bank, will publish its December meeting minutes on Wednesday, January 5, at 21:00 GMT+2 (MetaTrader time).
To Hike or Not to Hike?
Bank of Canada (BOC) will make a statement on December 8, 17:00 GMT+2.
Latest news
ZEW Sentiment Will Help the Euro
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2
US unemployment data and the USD
The United States will publish the Initial Jobless Claims on Thursday, December 30, at 15:30 GMT+2 (MetaTrader time).
First NFP in 2022 Can Rock the Markets
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
