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Yuan little changed; traders now expect band widening SHANGHAI: China's yuan was little changed near midday on Wednesday, with traders saying the pace of appreciation is likely to slow over the next month as the market consolidates recent gains.Spot yuan was marginally stronger, despite a slightly weaker central bank midpoint. But traders said that a large spate of dollar buying on Tuesday afternoon had pushed the exchange rate weaker, leading to a minor rebound on Wednesday, despite the weaker midpoint.Traders continue to report that client demand for yuan exceeds dollar demand, but they say the imbalance is smaller than during the first three months of the year, when data showed that clients sold huge amounts of foreign exchange to banks.After initially dismissing recent remarks by central bank officials indicating plans to widen the yuan's daily trading band, traders now increasingly say they expect a widening sometime in the coming weeks or months.They say that officials' intention to widen ...


Dollar slips back after approaching 100 yen mark TOKYO: The dollar weakened against the yen in Asian trade Wednesday after moving close to the 100 yen mark in the morning, while the euro softened on the back of poor economic data.The dollar bought 99.42 yen in Tokyo morning trade from 99.48 yen in New York Tuesday afternoon, while the euro fetched $1.2998 and 129.23 yen compared with $1.2997 and 129.30 yen.In the morning the dollar had edged up to 99.77 yen thanks to ...

C$ limps to fifth day of range-bound play TORONTO: The Canadian dollar was little changed against its US counterpart on Tuesday as the currency consolidated after last week's volatility, while soft economic data also kept investor sentiment subdued.For the fifth straight day, the Canadian dollar finished within a tight 11-point range between C$1.2059 and C$1.2070 after weakening some 1.2 percent early last week in reaction to plummeting commodity prices."Things have calmed down ... It looks like we're in for a period of consolidation," ...

New Zealand dollar jumps to session high after RBNZ SYDNEY: The New Zealand dollar rose to a session high on Wednesday after the Reserve Bank of New Zealand made upbeat comments about growth, while it kept interest rates steady at 2.5 percent, as widely expected.The kiwi jumped to around $0.8450, from around $0.8405 before the rate announcement, showing a rise of 0.3 percent on the day.The RBNZ left its benchmark cash rate unchanged and said it expected to hold rates for the rest of ...

Dollar, yen rise on global growth worries NEW YORK: The dollar and the yen climbed Tuesday after weak data in the eurozone and China's slowdown stoked concerns about the health of the global economy.The euro was under pressure after the Markit survey showed private-sector activity in the bloc remained in contraction in April. The reading for Germany, Europe's biggest economy, fell for the first time since November.The euro bought $1.2997 at 2100 GMT, down from $1.3059 at the same time Monday.It also ...

Euro falls to two-week low; dollar/yen steady after fake tweet NEW YORK: The euro slipped to a two-week low against the dollar on Tuesday after weak German data raised concerns about the health of the euro zone economy, reviving speculation that the European Central Bank could cut interest rates.The yen saw brief volatility after a bogus Associated Press tweet saying there were two explosions at the White House. However, after it was denied and the tweet blamed on hackers, traders quickly moved on."That was an ...

Yuan gains to near record high; link to Asian currencies in focus SHANGHAI: China's yuan rose on Tuesday morning, approaching the record high touched last week, after the central bank set a stronger midpoint in response to a fall in the dollar overnight.The People's Bank of China (PBOC) has set a series of strong midpoints in recent weeks, which pushed the spot rate to a record high of 6.1723 per dollar last Wednesday.The yuan changed hands at 6.1772 at midday on Tuesday, 0.08 percent shy of that ...


 



 
Index Closing Chg%
Arrow DJIA 16,399.67 0.12
Arrow Nasdaq 4,316.07 1.35
Arrow S&P 1,904.01 0.91
Arrow FTSE 6,267.07 0.68
Arrow DAX 8,717.76 1.50
Arrow CAC-40 3,991.24 1.04
Arrow Nikkei 15,111.23 3.98
Arrow H.Seng 23,070.26 0.20
Arrow Sensex 26,429.85 1.23





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln