The central bank has yet to confirm, but the change is reported on official website of the China Foreign Exchange Trade System.
The Chinese economy then slows again , capital flows leave and Beijing, while risking the launch of a new currency war, tries to run for cover devaluing the currency and loosening the link with the dollar rising.
On the third day of the devaluation of the yuan in a row the Tokyo Stock Exchange absorbs the hit and, after the initial uncertainty, ending trade at + 0.99%. The Nikkei recovers and bounces up 202.78 points to settle at 20595.55 share. The sentiment on the markets came under pressure on concerns that the Chinese economy may be in worse shape than expected, it is also improved in the wake of Wall Street that the end of the session found the momentum to clear losses. As for currencies, the euro weakened to $ 1.1134 and 138.52 yen, while the dollar strengthened against the Japanese currency, to 124.42.
The attention of investors is now directed at the US retail sales data that may draw the most realistic on the timing of interest rate hike widely expected now between September and year-end. In Japan, meanwhile, machinery orders from the private sector suffered a crash in June by 7.9% in May (and a + 16.6% yoy), to 835.9 billion yen (about 6 billion euro), including the caution on the global economy and the slowdown in China and the weak prices of raw materials.
European stocks open in upward. Start with the rebound for the Milan Stock Exchange. The FTSE MIB index marks + 1.52% to 23,318 points after closing down sharply yesterday (-2.9%). Start with the rebound for the Milan Stock Exchange. The FTSE MIB index marks + 1.52% to 23,318 points after closing down sharply yesterday (-2.9%). Same thing for the Frankfurt Stock Exchange. The Dax reaches + 1.49% to 11,084 points.
13 August 2015 08:12 – Last Updated: 9:13
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