CNY Climbs Most in Two YearsMarch 24, 2014 Posted by: Joe O'Leary
The USD is mostly unchanged today. However, the Chinese Yuan climbed the most in more than two years as the central bank strengthened the reference rate for the first time in five days after comments from officials suggesting the currency wouldn’t keep falling. The People’s Bank of China set the daily fixing stronger at 6.1452 per dollar today. The Australian dollar extended a gain from last week as investors maintained bets on a greater than 50 percent chance the nation’s central bank will raise interest rates within a year as the economy strengthens. The EUR is lower Russia’s Crimea invasion may lead to slower growth in Europe.
• U.S. Markit flash PMI dipped to 55.5 in March after rebounding 3.4 points to 57.1 for the final February print, which was the strongest reading since May 2010.
• German PMIs disappoint, with both services and manufacturing readings coming in below expectations and falling markedly from February readings.
• Chicago National Activity index rose to 0.14 in February after falling to -0.45 in January.
• Mexican Unemployment rate dropped to 4.9% from previous 5.05%
• NYMEX crude supported after U.S. sanctions Russian owned oil trading firm
03/25 EUR: German Ifo Business Climate, Expectations (Mar)
03/25 USD: Consumer Confidence (Mar)
03/26 EUR: German Consumer Confidence (Apr)
03/26 USD: Durable Orders/Shipments (Feb)
03/27 GBP: Retail Sales (Feb)
03/27 USD: GDP, 3rd revision (Q3)
03/28 EUR: Economic, Consumer, Industrial, Business, Services Confidence Reports (Mar)
03/28 EUR: German CPI (Mar)
03/31 USD: Chicago Purchasing (Mar)
03/31 CAD: Canada GDP
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