Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 29 results for "CNY"

Chief economist update: When 6%-plus growth is deemed too low

BENJAMIN ONG  |  FRIDAY, 19 MAR 2021
GDP growth of over 6% for 2021. Chinese premier Li Kequiang announced this target growth rate at the opening of the fourth session of the 13th National People's Congress (NPC) in Beijing on March 5. Many a time, China's annual economic growth ...

Chief economist update: Get shorty

BENJAMIN ONG  |  TUESDAY, 13 OCT 2020
The People's Bank of China (PBOC) cut the foreign exchange risk reserve ratio for forward contracts to 0% from 20% over the weekend, effectively giving its blessing to currency traders to "get shorty". The PBOC imposed the 20% risk reserve ratio ...

Chief economist update: Happy New Year rat

BENJAMIN ONG  |  MONDAY, 20 JAN 2020
"Gong xi fa cai"! China celebrates its lunar new year on January 25 this year, bidding farewell to the "pig" and welcoming the 'Year of the Rat'. Beijing has every reason to be optimistic. Derogatory as it may seem to be called "a rat", this ...

Chief economist update: War is over

BENJAMIN ONG  |  TUESDAY, 17 DEC 2019
"And so happy Christmas (War is over) For black and for white (If you want it) For yellow and red ones (War is over)..." - John Lennon Well, the trade war's not completely over, but the financial markets' rally on news that a phase one deal ...

Chief economist update: Chinese green shoots?

BENJAMIN ONG  |  MONDAY, 2 DEC 2019
It might be a mere 0.2 point above the line but it was indication enough that China's manufacturing sector has stopped contracting. The official National Bureau of Statistics (NBS) China manufacturing PMI increased to a reading of 50.2 in November ...

Chief economist update: The PBOC stimulates

BENJAMIN ONG  |  TUESDAY, 19 NOV 2019
Faced with slowing growth and above target inflation, what's a central bank to do? In the case of the People's Bank of China (PBOC), it's going for growth. In a surprise move, the Chinese central bank cut its seven-day reverse repo rate ...

Chief economist update: RBA heading to zero

BENJAMIN ONG  |  WEDNESDAY, 7 AUG 2019
Trump's latest tat (branding Beijing a currency manipulator) for China's tit (allowing the yuan to fall below the psychological threshold of CNY7.0/US$1) highlights just how determined the US president is to win the trade war. Yes Virginia ...

Chief economist update: Look out below

BENJAMIN ONG  |  TUESDAY, 6 AUG 2019
... People's Bank of China (PBOC) allowed the yuan to fall below the psychological threshold of CNY7.0 per US dollar. The official CNY/US$ exchange rate dropped by 1.3% to an 11-year low of CNY7.04 while the offshore CNY/US$ rate fell by 1.8% to CNY7.10 ...

Chief economist update: Don't buy a Big Mac in America

BENJAMIN ONG  |  FRIDAY, 12 JUL 2019
The Bloomberg US Dollar Spot index was trading at 96.7680 on the day Trump tweeted the below: "China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being ...

Chief economist update: Iron ore on the up and up

BENJAMIN ONG  |  MONDAY, 1 JUL 2019
The way it's going, the rally in iron ore prices will keep on going and going. Iron ore prices ended the first half of 2019 at US$109.18/metric tonne, representing a 57.8% rally from the US$69.20 it fetched six months earlier. The world's largest ...
PAGE:
1
PREVIOUS
NEXT