Easy-Forex: Ready? Trade.

Danger of Forex Reserves Change

Thursday, November 29th, 2007

Chinese YuanLi Yang, an ex-adviser of the People’s Bank of China, suggests a great care in handling any changes to the country’s foreign currency reserves (world’s largest), that are currently composed mainly of U.S. dollars. By the Li’s words, it’s not reasonable to change the vast amount of current reserves, but the new income that goes to the reserves can be exchanged to other currencies.

Chinese Yuan on the Road to Revaluation

Wednesday, November 28th, 2007

Chinese YuanChinese yuan will definitely see a some kind of revaluation against dollar and other major currencies soon. Jean-Claude Trichet spoke today about his latest endeavor to convince China government to make confident steps towards stronger yuan policy. From his words the Chinese central bank understands the concerns of their trade partners and the steps will be done eventually to make yuan less depreciated.

Chinese Yuan Shows Some Growth

Wednesday, November 21st, 2007

Chinese yuan gained against dollar during today’s trading session in Shanghai, reaching 7.425 yuan/dollar rate. This appreciation of yuan was caused mainly by the falling U.S. dollar against euro, pound and other currencies.

G-20 Soft Call to China

Sunday, November 18th, 2007

Group of 20, which summit ended today in Cape Town, South Africa, has released its statement. To some surprise it didn’t contain any strong implications to China’s monetary policy, as some expected. Although E.U., Canada and U.S. officials were motivated to bring China to the faster decisions, which could lead to the yuan appreciation, it seems that they failed.

Central Bank Leaders To Persuade China

Friday, November 16th, 2007

Mervyn King, Bank of England Governor, said during his press conference that he will use the Group of 20 meeting to convince China to speed up the yuan’s appreciation. G20 meeting will be held near Cape Town, South Africa, this weekend on November 17-18 and one of the prevailing topics would be China’s monetary policy.