The major financial institutions of Afghanistan and Tunisia are geared up towards issuing a Bitcoin bond…
Chinese Yuan goes down notwithstanding firm factory polls
On Monday, the Chinese Yuan headed south in Asia notwithstanding a sudden improvement in China’s factory activity.
As a matter of fact, the currency pair USD/CNY hit 6.7054, decreasing by about 0.1%.
In March, the Caixin/Markit PMI came up with 50.8, which appears to be higher than the anticipated 49.9. Released on Sunday, the official PMI also tacked on, gaining 50.5 from February’s outcome of 49.2, thus becoming the first expansion for four months.
An outcome below 50 stands for contraction. On the contrary, a result above that level points to expansion.
The positive data raised investor sentiment and also pushed Chinese shares up by over 2.5%. However, the Chinese Yuan slumped a bit.
Besides this, gauging the greenback’s purchasing potential versus its primary peers the USD index slipped by 0.14% coming up with 96.713. The evergreen buck has been diving since Friday after data disclosed that American consumer spending barely rallied in January.
In January, consumer spending, accounting for more than two-thirds of American economic activity, tacked on by 0.1% after a 0.6% slump in December, which appears to be its first dive since September 2016.
Market participants are going to closely watch Friday’s American government employment report for March, with wage growth figures likely to attract attention after the US major financial institution excluded the probability of any rate lifts in 2019.
Additionally, financial markets will also receive an update on American retail sales as well as manufacturing activity.
On the China-US trade front, China’s Vice Premier Liu He will go to Washington this week with the aim of meeting with US Trade Representative Robert Lighthizer as well as Treasury Secretary Steven Mnuchin for more trade negotiations.
The currency pair USD/JPY rallied by 0.2% reaching 111.03.
On Friday, the evergreen buck is holding near a two-week maximum, on what needs to be a quiet trading session for currencies with most other key American as well as global exchanges unavailable due to the observance of Good Friday…
On Thursday, prices of the key crypto assets headed north in Asia…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…