Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The yuan recovered from a six-week low


April, 26 2023
watermark Economic news

On Wednesday, the Chinese yuan showed moderate growth, recovering from the area of six-week lows. The current quote of the USD/CNY pair is 6.9169.


The currency was supported by news about Beijing's plans to support exporters amid weakening global demand. Yesterday, the Chinese authorities published a plan to support the export of cars and simplify the process of obtaining visas for foreign businessmen. 


At the same time, it is expected that it will still be difficult for Chinese exporters amid expectations of a recession in the United States, where the consumer confidence indicator in April fell to the lowest level in nine months (101.3 points).


Moreover, experts doubt that external demand for Chinese goods will recover in the near future, despite the support measures, and this will also limit the growth of the yuan. The upcoming dividend payments by Chinese companies listed on international exchanges may put additional pressure on the Chinese currency.


Between April and August, local companies traded on the Hong Kong Stock Exchange will have to pay dividends in the amount of about $56 billion.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.