Unveiling 2024: Market Outlook and Key Trends Get your free copy
-
UK
- Australia - English
- België - Nederlands
- Belgique - Français
- Brazil - Portuguese
- Canada - English
- Canada - Français
- Česká Republika - Čeština
- Deutschland - Deutsch
- España - Español
- France - Français
- Ελλάδα - Ελληνικά
- Hong Kong - English
- Hong Kong - Traditional Chinese
- Italia - Italiano
- Luxembourg - English
- Nederland - Nederlands
- Polska - Polski
- Portugal - Português
- România - Română
- Schweiz - Deutsch
- Suisse - Français
- Sverige - Svenska
- United Arab Emirates - English
- United Kingdom - English
Contact our experts
Ebury London
100 Victoria Street
London
SW1E 5JL
+44 (0) 20 3872 6670
[email protected]
Ebury.com
Solid China data boosts CNY, improves risk appetite
- Go back to blog home
- Latest
8 August 2019
Senior Market Analyst at Ebury. Providing expert currency analysis so small and mid-sized businesses can effectively navigate international markets.
Some encouraging data out of China and efforts on behalf of the Chinese central bank to stem the slide in the country’s currency helped improve risk sentiment in the global financial markets on Thursday.
There were also signs that the People’s Bank of China was ready to step in to protect CNY, setting its official midpoint for the currency at a stronger level than the market had anticipated. The yuan has experienced a torrid time since President Trump’s latest tariff announcement, falling below the 7 level against the US dollar this week for the first time in a decade.
While we still remain of the opinion that common sense will prevail and a deal will be done at some point, we are pushing back our timing for when this will be the case. Regardless, investors continue to fear the worst. Additional losses for CNY in the short term now look highly likely, with the safe-haven Japanese yen set to continue to benefit.
German industrial production falls most in a decade
Aside from the news out of China, headlines out of the other major economic areas continues to be pretty few and far between amid the typically quiet August trading.
Sterling spent another day fairly range bound against the US dollar, despite growing concerns that the UK could be heading towards a ‘no deal’ Brexit. A Reuters poll yesterday suggested that economists were increasingly fearful regarding the possibility, with the average likelihood among those polled now standing at 35% versus the previous 30%.
Meanwhile, industrial production data out of Germany was fairly horrendous yesterday, adding to concerns that the Eurozone economy was set for a prolonged slowdown this year. Industrial activity fell by 5.2% year-on-year, its largest decline since the aftermath of the financial crisis. Such soft data continues to support our view that the European Central Bank will take measures to support the currency bloc in September by following in the footsteps of the Federal Reserve in cutting interest rates.
Cookies and Privacy
This site uses cookies to ensure you get the best experience. For more information see our Privacy NoticeAccept Settings Reject
Privacy Overview
Cookie | Duration | Description |
---|---|---|
cf_use_ob | past | This cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_ga_P8154YCRDP | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_51187572_50 | 1 minute | Google uses this cookie to distinguish users. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
_hjFirstSeen | 30 minutes | This is set by Hotjar to identify a new user’s first session. It stores a true/false value, indicating whether this was the first time Hotjar saw this user. It is used by Recording filters to identify new user sessions. |
_hjid | 1 year | This cookie is set by Hotjar. This cookie is set when the customer first lands on a page with the Hotjar script. It is used to persist the random user ID, unique to that site on the browser. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. |
CONSENT | 16 years 4 months 14 hours 27 minutes | These cookies are set via embedded youtube-videos. They register anonymous statistical data on for example how many times the video is displayed and what settings are used for playback.No sensitive data is collected unless you log in to your google account, in that case your choices are linked with your account, for example if you click “like” on a video. |
pardot | past | The cookie is set when the visitor is logged in as a Pardot user. |
Cookie | Duration | Description |
---|---|---|
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
yt-remote-connected-devices | never | These cookies are set via embedded youtube-videos. |
yt-remote-device-id | never | These cookies are set via embedded youtube-videos. |
Cookie | Duration | Description |
---|---|---|
_lfa | 2 years | This cookie is set by the provider Leadfeeder. This cookie is used for identifying the IP address of devices visiting the website. The cookie collects information such as IP addresses, time spent on website and page requests for the visits.This collected information is used for retargeting of multiple users routing from the same IP address. |