yuan

As China launches a new oil futures contract settling in yuan, is this the end of the petrodollar? Alasdair Macleod of Goldmoney.com believes it very well could be the beginning of a perhaps long end to dollar hegemony. But if the petroyuan has, indeed, threatened the status of the dollar, will this trigger ...

SHANGHAI, April 3 (Reuters) - China's yuan again eased against the U.S. dollar on Tuesday, as there continued to be corporate demand for the greenback following the previous day's strongest fixing for the Chinese currency since its 2015 devaluation. Globally, the dollar was largely steady against its ...

While the dollar has served as a powerhouse within the oil market, the Yuan is positioned to succeed it. According to Al Jazeera, China's appetite and need for crude are increasing annually. With 9 million barrels needed daily, being capable of paying in Yuan instead of the dollar. The balance of power in ...

The People's Bank of China (PBOC) set the Yuan reference rate 6.2926 vs. previous day's fix of 6.2833. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in ...

Just days after Beijing officially launched Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the ...

China's forex regulator has warned residents and companies not to “gamble” on the yuan's exchange rate, as the currency's rapid appreciation raises concerns about its impact on Chinese exports. The warning from Wang Chunying, head of the international payments department at the State Administration ...

On Tuesday, the People's Bank of China set the yuan's exchange rate at its highest level—6.2816 yuan per dollar USDCNY, +0.0159% USDCNH, +0.0112% —since August 2015, when the foreign exchange fix had its biggest drop since the current system's inception. The currency pairs can trade within a ...

With West Texas Intermediate trading in New York and Brent trading in London remaining the world's established crude benchmarks, Beijing hopes that the contract denominated in yuan could make pricing more fair and better reflect the existing correlation of demand and supply on the oil markets of China ...

Mr. Trump's threatened tariffs on Chinese exports pose a downside risk for the RMB. If the tariffs actually are implemented as billed, the RMB could depreciate by around 5-to-6%. But we still see scope for negotiation, though the Chinese side understandably appears confused as to who precisely are their ...

The trade wars have begun with the Trump administration announcing a $60 Bln tariff on China and calls for a $100 Bln deficit cut; A silver lining to the day's headlines was announced metal tariff exemptions for Europe, Australia, South Korea and more; Risk aversion kicked in for the S&P 500 and Dow; but ...

SHANGHAI, March 22 (Reuters) - China's yuan rose to a one-week high against the dollar on Thursday, underpinned by a strong official fixing and weakness in the greenback after the U.S. Federal Reserve did not indicate faster monetary tightening this year as some had expected. The dollar eased versus ...

Rounds of 71-69-68-70 suggest Yuan's game is in good shape as he was 10-under for the 72 holes in a low scoring tournament in Chengdu last week when T17. He will be keen to keep that form going and move up the money list this week with the incentive of Web.com Tour status on offer for those who ...

Since China has become the largest customer for oil producers in the Middle East, the international environment has steered toward internationalization of the yuan. Especially since Donald Trump became US president in January 2017, the dollar has been weakening. The US' move toward protectionism ...

SHANGHAI, March 13 (Reuters) - China's yuan edged up against the U.S. dollar on Tuesday after the central bank set a much stronger midpoint, but trade was thin as market participants awaited U.S. inflation data for clues on the outlook for the greenback in the near term. U.S. job data released last Friday ...

The Shanghai International Energy Exchange (INE)—a child of the Shanghai Futures Exchange—continues to excite and frustrate domestic and international market participants over the launch of its crude-oil futures contract. Banks, whose market-making role would be crucial to the success of the contract, ...

BEIJING, March 14 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 13 basis points to 6.3205 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or ...

"While the yuan could move into No. 4 in global foreign-exchange trading over the 10-year horizon of our report, it is unlikely to challenge the yen for leadership in Asia in this regard," Morgan Stanley analysts wrote in a note on the future of Asian finance to 2027. The dollar and euro are first and second ...

The forecast reflects the view of a number of observers that China's role in the global economy will continue to vastly outweigh its currency's presence in financial markets. A botched 2015 move to embrace greater volatility in the yuan spooked investors around the world, and spurred Chinese officials to ...

BEIJING, March 12 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 118 basis points to 6.3333 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall ...

Democratic Progressive Party (DPP) lawmakers yesterday lambasted a court ruling last week that allowed a judge convicted of sexual harassment to just pay a fine instead of losing his job, a ruling that was also criticized by two Control Yuan members. The Judicial Yuan's Court of the Judiciary in 2016 ...

SHANGHAI, March 12 (Reuters) - China's yuan inched up against the U.S dollar on Monday, supported by a firmer yuan midpoint and slight weakness in the greenback, but market participants expect the Chinese currency to move only marginally in the near term. The dollar eased fractionally against a ...

As China plans to further open up its market and promote free global trade and investment, the yuan is expected to play a greater global role. China has done most of what it takes to pave the way for expanded usage of yuan globally, central bank governor Zhou Xiaochuan recently told a press conference ...

BEIJING, March 10 (Xinhua) -- As China plans to further open up its market and promote free global trade and investment, the yuan is expected to play a greater global role. China has done most of what it takes to pave the way for expanded usage of yuan globally, central bank governor Zhou Xiaochuan ...

The Chinese yuan has appreciated 10 percent against the dollar since the start of 2017, quelling some criticism that the export giant has been deliberately suppressing its currency to gain economic advantage over its trading partners. This is all going according to China's plan, experts said. Although the ...

China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters, a key development in Beijing's efforts to establish its currency internationally. Shifting just part of global oil trade into the yuan is potentially huge. Oil is ...

The yuan oil futures will begin trading March 26 on the Shanghai International Energy Exchange, a unit of the Shanghai Futures Exchange. Foreign traders will be allowed to invest directly - a first for China's commodities markets. Trading in raw materials across the nation's three main bourses has exploded ...