China Forex Handbook
Product Description
Examines the current foreign exchange laws and regulatory controls in the People’s Republic of China with respect to business and commercial transactions. Covers import/export issues, banking and finance transactions, withholding tax. Provides English translations of key laws and regulations which have not been available in English before…. More >>
EUR/USD Weekly Review 29 Nov – 3 Dec 10
Simultaneous Release at TheGeekKnows.com – Learn Forex Trading and view EUR/USD Reviews. Good day forex trading koalas. In the previous EUR/USD weekly review, we noted that the global economy faces three potential problems. The Euro Zone Deficit Crisis, the cooling of China’s economic growth and the two Koreas. Looking at the EUR/USD daily chart above, [.
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Shanghai Composite drops 3.1% in late morning
HONG KONG (MarketWatch) — China stocks were under sharp selling pressure late in the morning session Tuesday amid reports that Beijing is preparing to tighten policy as part of efforts to clamp down on inflation. Shanghai’s Composite Index was off 3.1% at 2,778.9, while the China CSI 300 was down 3.4%. Investors were reportedly skittish following news that China’s State Council on Monday announced it would stiffen penalties and step up monitoring to discourage hoarding of goods and price manipulation. Shanghai-listed shares of coal miner China Shenhua Energy Co. were down 3%, while China Southern Airlines’ fell 5.9%. Banking and financials were also lower, with Industrial & Commercial Bank of China’s shares falling 2.6% in Shanghai and 1.3% in Hong Kong.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Tajikistan: China and Russia trade in rubles and Yuan, farewell to the U.S. dollar
Prime Ministers of both countries agree to trade with their currencies, to affirm the importance at the expense of the dollar. Meanwhile, the two countries take part in the meeting of the SCO in Tagik…
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Forex News Recap: China Tightens Bank Lending, Market Gets Jitters, Bernanke Defends QE2
Today’s session was light on fundamentals, though a move by China’s central bank to raise bank reserve requirements sent some shudders through equity and commodity markets boosting risk aversion. That helped the USD and JPY to pare some of their losses to higher yielders and commodity currencies from yesterday’s strong rally.
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Oil firm; eyes on Irish bailout loan, China
Oil rose above $82 a barrel on Friday on a stronger euro ahead of an expected bailout of Ireland as well as on expectations China could lift interest rates to curb inflation.
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Oil falls below $82
Oil fell below $82 a barrel along
with falls in broader markets due to renewed
worries China may hike interest rates to fight inflation. |||
Oil fell below $82 a barrel along
with falls in broader markets on Wednesday due to renewed
worries China may hike interest rates to fight inflation.
Feeding into market expectations, Chinese Premier Wen
Jiabao said his government was preparing steps to tame price
rises, the official Xinhua news agency reported late on Tuesday.
U.S. crude oil futures briefly fell more than $1 to $81.18 a
barrel, the lowest intraday-price since Oct. 29, and they were
trading 76 cents lower at $81.58 by 1228 GMT.
ICE Brent crude was trading 65 cents lower at $84.08, having
touched as low as $83.57.
U.S. crude fell for the fourth day, losing more than 7
percent of its value since it struck a two-year high of $88.63
on Thursday.
“The market has not found support yet. It is the demand side
and questions about the U.S. dollar and China’s capacity to
consume energy going forward,” said David Taylor, an analyst at
CMC Markets in Sydney.
The tendency of China’s central bank to raise interest rates
around the 20th day of the month makes this Friday a “sensitive
window” for a rate rise, an official newspaper said on
Wednesday, citing unnamed analysts.
China has overtaken the United States to become the world’s
largest energy consumer. Any slowdown to the Chinese economy may
lead to a dent in its energy demand, which has been growing
rapidly.
But some market participants said Chinese demand should
still support oil and commodities prices in the long term.
“Anything that acts as a gentle brake on the runaway growth
in China will be a very good thing in the longer term,” said
Christopher Bellew with Bache Commodities.
“And if it causes commodity prices to fall, it will only be
the short term.”
Bellew added a strong dollar was also weighing on oil prices
in the short term.
The dollar pushed up to near a seven-week high against the
euro on Ireland’s debt crisis while high-yielding currencies
suffered.
Risk aversion typically prompts investors to reverse bullish
bets across commodities.
Ireland committed itself on Wednesday to working with a
European Union-IMF mission on urgent steps to help its stricken
banking sector, a process that could lead to a bailout despite
Dublin’s deep reluctance.
A team from the European Commission, the International
Monetary Fund and European Central Bank will travel to Ireland
on Thursday to examine what measures may be needed if Dublin
decides to seek aid, euro zone finance ministers said.
Later in the day, the oil market focus will shift to weekly
oil data from the U.S. government.
Analysts in the Reuters poll forecast the data would show a
100,000 barrel increase in the U.S. crude oil stocks in the week
to Nov. 12.
Late on Tuesday, a separate set of data from the industry
group American Petroleum Institute showed crude oil inventories
declined by 7.7 million barrels in the week. Investors were
holding off ahead of the EIA numbers to see whether the big and
unexpected fall is confirmed. – Reuters
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US looking for progress on yuan by January
YOKOHAMA, Japan: The United States wants progress on China’s pledge to let the yuan rise against the dollar by the time President Hu Jintao visits Washington in January, a senior official said Saturday.
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Will China raise rates? Will US data guide QE talks? – Next week’s forex questions
The dust of G-20 has settled. World leaders sat around a large table set this time in South Korea, searched for that magic wand in their suit pockets, and then looked at each other’s face with disappointment. They didn’t get one to ‘calm down’ the emerging fears of a ‘world war’ on trade and currencies. They did not ‘direct’ China and/or US as some hoped.
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China’s new investment rules report sends dollar down vs euro
The euro fell against the dollar on Friday in Asia as China’s reported new investment rules damped local share markets and fueled speculation that the global economy will likely experience slower-than-expected growth ahead.
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