Against the backdrop of a further fall of the yuan against the US dollar, experts fear that the trade war between China and the US could develop into a currency one, as China can use the weak national currency as a weapon in the event of increased tensions with Washington. The fall of the yuan for the 11th consecutive session is a record-breaking period of its continuous easing. On Thursday, at the auction in Shanghai, the yuan against the dollar rate fell by 0.3% to a minimum since December 20, to 6.63 yuan per 1 dollar. CNBC writes that the PRC authorities allow the yuan to become cheaper in order to increase the attractiveness of Chinese exports abroad.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...