U.S. warns China over currency depreciation - News and Current Events | futures io social day trading
futures io futures trading


U.S. warns China over currency depreciation
Updated: Views / Replies:212 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

U.S. warns China over currency depreciation

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

U.S. warns China over currency depreciation

The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise "serious concerns" if it signaled a policy shift away from allowing market-determined exchange rates.

Washington has been pressing China for years to allow its currency to trade at stronger values. Last month, U.S. Treasury Secretary Jack Lew welcomed a decision by China to allow its currency to vary more against the dollar in daily trading.

Monday's comments by a senior official from the Treasury Department suggested the United States was not completely sold on China's intention to reduce authorities' interventions in exchange markets.

"If the recent currency weakness signals a change in China's policy away from allowing adjustment and moving toward a market-determined exchange rate, that would raise serious concerns," the official, who asked not to be named, told journalists in a phone call.

A weak yuan makes Chinese exports cheaper for U.S. consumers at the expense of U.S. producers. A weaker yuan also makes Chinese consumers less able to buy foreign goods.

In comments that outlined U.S. positions before meetings later this week of the International Monetary Fund and between Group of 20 nations, the official noted the widening of China's currency trading band came just after a drop in the yuan's value that coincided with reports of "considerable intervention" in exchange markets by Chinese authorities. That is exactly the sort of behavior Washington wants Beijing to ditch.

China's foreign ministry, which has no say in currency policy but is the only government department to regularly answer foreign reporters' questions, said Beijing was committed to reform.

"We will continue to resolutely push forward reform of the renminbi exchange rate mechanism," ministry spokesman Hong Lei told a daily news briefing in Beijing on Tuesday, using the currency's formal name.

The United States also appears likely to pressure Europe at the meetings to act more decisively to fix its troubled banking sector.

The Treasury official said recent economic data from Europe showed the region was experiencing "chronic low inflation and weak demand." That appeared to be a nod to growing concerns that Europe's economy is so weak it risks falling into deflation - a dangerous spiral of falling prices and wages.

"More needs to be done to support growth," the Treasury official said.

The official had blunt words for other economic powers as well, saying that Japan should avoid engaging in too much fiscal austerity.

He said U.S. sanctions on Russian officials were already having an impact on Russia's economy. The official also chided emerging markets for going too slowly in adopting free-floating currencies.

"Resistance in many emerging markets to moving more quickly to market-determined exchange rate regimes is hindering the rebalancing needed to ensure a lasting, strong global recovery," the official said.

U.S. warns China over currency depreciation | Reuters

Reply With Quote

Reply



futures io > > > > U.S. warns China over currency depreciation

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
China Military Paper Warns US of Armed Confrontation Over Seas Quick Summary News and Current Events 0 April 21st, 2012 05:30 AM
China warns EU of carbon tax ‘trade war’ kbit News and Current Events 0 December 23rd, 2011 09:01 AM
China Warns of Trade War if US Bill on Currency Passes Quick Summary News and Current Events 1 October 4th, 2011 02:32 AM
China’s New Currency Policy kbit News and Current Events 0 August 25th, 2011 04:56 PM
China Warns on Risks of Excessive US Dollar Holdings Quick Summary News and Current Events 2 June 7th, 2011 02:17 PM


All times are GMT -4. The time now is 05:28 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.07 seconds with 19 queries on phoenix via your IP 54.160.245.121