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Tag Archives: currencies

China is bursting bubble in speculation with digital currencies

The Chinese Central Bank denies widespread reports that it will launch a digital currency by November, saying that internet giants Alibaba and Tencent will not be the first to use its online payment system when it is introduced. The People's Bank of China announced the announcement over the weekend on its official rumors website, Piyao. There were few details, except …

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RBA, US-China trade war, currencies

Australian stocks fell on Tuesday ahead of the Reserve Bank of Australia's interest rate decision, which was due around 12:30. HK / SIN. The S & P / ASX 200 fell 0.11% in early trading as most sectors declined. However, the heavily weighted financial sub-index rose more than 0.3% as equities in the country's so-called Big Four banks rose: Australia …

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US-China trade, oil, currencies in focus

Asian stocks traded higher on Tuesday as investors watched eighth component after a recent escalation of tensions on the trade front between the US and China component rose 1.28%. The Shenzhen Composite gained 1.207%. Hong Kong's Hang Seng Index remained largely unchanged. The Japanese Nikkei 225 gained 1.25% in morning trade, while the index heavyweight and conglomerate Softbank Group gained …

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Emerging market currencies weaken before Powell speaks; Yuan falls

BENGALURU (23 August): Most emerging market currencies continued to be under pressure on Friday, and China's yuan fell on concerns that US Federal Reserve Chairman Jerome Powell would later deliver a series of interest rate cuts in a speech An 11-year low One exception was the South African rand, which gained 0.6% after the Treasury promised to cut costs and …

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China data, South Korea, currencies in focus

Asia-Pacific markets were trading lower Thursday morning as major South Korean technology stocks came under pressure. The Kospi benchmark index fell 0.5% as major chipmakers were sold in early trading: Samsung shares fell 0.88%, while SK Hynix edged down 0.78% slightly better than the Analysts forecast 11.3%. In particular, semiconductor exports fell 28.1%, according to Reuters. Imports declined 2.7% from …

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Cash Prevents Digital Currencies With Negative Interest

Japan's second most senior banking figure has said it can not use digital currencies to enforce negative interest rates, Reuters reported on July 5. Speaking at the event, Masayoshi Amamiya, deputy governor of the Bank of Japan, said that issuing digital currency with a negative interest rate. This cash supply would remain, Amaiya said, and despite the current trend to …

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Nonfarm Payrolls, Oil, Currencies in Focus

Equities in Asia were subdued on Friday morning ahead of the upcoming release of the US Non-Farm Payrolls report, which could provide clues as to whether the Federal Reserve will cut interest rates in its monetary policy session at the end of July. ] In Japan, Nikkei 225 and Topix remained virtually unchanged in early trading. Meanwhile, South Korea's Kospi …

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Dow and NASDAQ, US-China trade, oil, currencies in focus

Stocks in Asia Pacific were mixed on Thursday as worse-than-expected U.S. economic data raised expectations The Nikkei 225 closed 0.3% higher at 21.702.45 shares of the index heavyweight Softbank Group jumped more than 3%, while the topix gained 0.65% to finish its trading day at 1,589.78 In South Korea, the Kospi advanced 0.61% to close at 2,108.73, while Australia's S …

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Why Zimbabwe has banned foreign currencies

Copyright EPA The Zimbabwean government has taken the controversial decision to ban local foreign currency trading, including the US dollar, with immediate effect. It also reintroduced the Zimbabwe dollar, which was abandoned in 2009 due to hyperinflation, when the country introduced mainly the US dollar and the South African rand. The move shocked Zimbabweans who believe little in a local …

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