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Tag Archives: Yuan

Copper prices rebound on optimism over Chinese demand 

Key points:  Copper prices climbed on Wednesday, driven by optimism over increased demand from China, being the top copper consumer in the world. Three-month copper on the London Metal Exchange (LME) rose 0.5% to $4.79 per pound, while the most-traded July copper contract on the Shanghai Futures Exchange (SHFE) gained 0.3% to $5.32 per pound. Continue Reading

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China’s yuan dips as PBOC sets new midpoint

Key points: On Tuesday, China’s yuan slipped slightly as traders remained cautious ahead of key inflation data from major global economies. These reports could provide insights into the short-term trajectory of global interest rates. SEE: The offshore yuan (USDCNH) trading at 7.26184 as seen on the VT Markets app. PBOC weakens rate of yuan inContinue Reading

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Aussie climbs as China considers buying unsold homes

Key points: China is contemplating a policy move where local governments would purchase millions of unsold homes. This initiative aims to stabilise the distressed real estate sector, which has seen home sales plummet by nearly 50%, leaving a vast inventory of unoccupied properties. Australian dollar rises on optimism Picture: The AUD/USD pair is moving upwards.Continue Reading

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