The news knocked the dollar sharply lower and bolstered the price of gold . The Treasury Department said a statement from the People’s Bank of China (PBOC) on Monday made clear that Chinese … (…
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U.S. designates China as currency manipulator for first time in decades
China Biologic Reports Financial Results for the Second Quarter of 2019
–2Q19 Total Sales Up 12.7% YoY in USD terms, or 20.4% YoY in RMB terms; Net Income Up 45.5% YoY to $41.6 Million; Non-GAAP Adjusted Net Income Up 29.1% YoY in RMB terms — –1H19…
American farmers say China can’t meet its future demand for soybeans without the US
Brazil, the world’s largest soy exporter, can’t independently produce enough soy for China’s swelling middle class, Darin Johnson, a soy farmer in Southern Minnesota, told Yahoo Finance. Over the past … ( read original story…
World’s Biggest Banks Sink to Record Lows as China Pain Spreads
Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, lost $11 billion of market value last week after injecting capital into a troubled regional bank as part of a … (…
Valuations of the world’s biggest banks sink to record lows as China’s economic and debt pain spreads in trade war’s aftermath
China’s “big four” state-owned lenders … lost US$11 billion of market value last week after injecting capital into a troubled regional bank as part of a government-orchestrated rescue. Big Chinese … ( read original story…
Yuan falls below sensitive level of 7 to U.S. dollar, raising fears of new phase in U.S.-China trade war
China allowed its yuan to fall below the politically sensitive level of seven to the U.S. dollar on Monday for the first time in 11 years, prompting concern Beijing might use devaluation as a weapon…
Asian stock tumble for 3rd day after China lets yuan sink
Shanghai, South Korea and Australia also retreated. China’s central bank allowed the yuan’s exchange rate to sink below the politically sensitive level of seven to the U.S. dollar. That level has no … ( read…
Oil Could Plunge By $30 If China Restores Iranian Oil Imports – OilPrice.com
Should China decide to defy the latest U.S. tariff … hit and plunge by as much as $20-$30 a barrel, according to Bank of America Merrill Lynch cited by CNBC. Early on Monday, WTI Crude…
Lashing back, China lets yuan drop, halts US farm purchases
He added, “This is a major violation which will greatly weaken China over time.” China’s central bank blamed the yuan’s drop on “trade protectionism” — an apparent reference to Trump’s threat last … ( read…
China lets yuan break key 7 level for first time in decade as trade war worsens
Some analysts said the yuan move could unleash a dangerous new front in the trade hostilities – a currency war. The People’s Bank of China (PBOC) provided the early impetus for yuan bears by setting…
China’s yuan falls below sensitive level of 7 to US dollar
BEIJING – China allowed its yuan to fall below the politically sensitive level of seven to the U.S. dollar for the first time in 11 years on Monday, raising the possibility Beijing might use ……
Fears of China Capital Flight Hang Over a Newly Sliding Yuan
Issuance so far this year is a record $138 billion. “Capital flight is still a major concern,” said Fraser Howie, who has two decades of experience in China’s financial markets and co-wrote the 2010 ……
China’s yuan devaluation has investors ‘puking stocks’
China on Monday surprised global markets by letting the yuan … “We won’t re-test the December lows,” said Mike Piershale, president of Piershale Financial Group. … ( read original story …)
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