Tag

It will also extend foreign-exchange trading hours in a potential move intended to forge the convergence of the yuan’s rate in China and the rate of the currency traded outside the mainland.

After Tuesday, again on Wednesday for the continued second day the stocks in China dropped.

“A falling yuan and a rising bilateral U.S. trade deficit with China will sharpen congressional criticism of China’s currency policies”, he said. Germany’s DAX dropped 2.9 percent, France’s CAC 40 dropped 3.1 percent, while Britain’s FTSE 100...

The move to allow more flexible trading “could help maintain the flexibilty of the country’s monetary policy as cross-border financial flows increase“, S&P said.

In currency markets, the euro was steady against the U.S. dollar at $1.1023.

China’s government said the move to weaken the yuan was a result of reforms intended to make its exchange rate more market-oriented.

China’s central bank cut its reference rate by 1.9 percent, triggering the yuan’s steepest one-day loss since the nation unified official and market exchange rates in 1994.

The value of the Chinese yuan has been gradually rising for 10 years. They had unrealistic expectations: The market has since slammed into reverse, falling by a third in less than a month and wiping away $4 trillion in wealth….

The political backlash on currency is concentrated in states reliant on automobile manufacturing, steel production and other heavy industry.

The yuan suffered its biggest one-day decline in more than two decades on Tuesday, hitting a three-year low after the Chinese central bank surprised markets by devaluing it by nearly 2 percent, firing a broadside in what some analysts saw as a looming currency war. This de facto...

The Federal Reserve is expected to raise its key interest rate next month for the first time in nearly a decade.

The report was not bad enough to derail the Fed’s and markets’ expectations for a rate hike this year, and it was not stellar enough to lock in a September rate hike.

Top Wall Street banks still expect the Federal Reserve to raise interest rates in September, but a growing number now believe the central bank is likely to only hike once this year, a Reuters poll found on Friday.

The unemployment rate is forecast to hold steady at a seven-year low of 5.3 percent, near the 5.0 percent to 5.2 percent range most Fed officials think is consistent with a steady but low level of inflation.

According to EPFO, transparency, liquidity, diversification, flexibility and cost-effectiveness are amongst the many advantages of investing in ETFs and index-based ETFs.