China’s yuan weakens against USD Tuesday

Posted on May 17, 2011 in AllEconomic News

The Chinese currency Renminbi, or the yuan, Tuesday weakened against the U.S. Dollar (USD) as the central parity rate of the yuan was set at 6.5108 per USD. The yuan weakened by 19 basis points from the previous trading day. It hit a record new high of 6.4948 per USD on last Wednesday. On China’s [...]

Dollar falls on slower economic growth prospect, eurozone debt concern

Posted on May 17, 2011 in AllEconomic News

The U.S. dollar fell against major currencies in late New York trading on Monday as economists lowered U.S. economic growth projections and European finance ministers met to discuss Portugal and Greece debt issues. Economists cut projections for 2011 U.S. economic growth from 3. 3 percent to 2.8 percent, but maintained its forecast for moderate economic [...]

China’s yuan weakens against USD Monday

Posted on May 16, 2011 in AllEconomic News

The Chinese currency Renminbi, or the yuan, Monday weakened against the U.S. Dollar (USD) as the central parity rate of the yuan was set at 6.5089 per USD. The yuan weakened by 72 basis points from the previous trading day. It hit a record new high of 6.4948 per USD on Wednesday. On China’s foreign [...]

German economy boosts in first quarter, exceeds pre-crisis level

Posted on May 16, 2011 in AllEconomic News

The German economy expanded faster than expected in the first three months from the fourth quarter last year, confirming the country has exceeded the pre-crisis level in 2008, official data showed Friday. The Wiesbaden-based Federal Statistics Office said that Germany’ s seasonally-adjusted gross domestic product (GDP) grew 1.5 percent in the first quarter, compared with [...]

Eurozone economy forecast to grow by 1.6% this year

Posted on May 16, 2011 in AllEconomic News

Eurozone economy would grow by 1.6 percent this year, with downside risks to growth prevailing amid increased uncertainties, the European Commission said in a major forecast on Friday. The growth figure was slightly revised up, compared with a previous forecast in autumn, which had predicted that the 17-nation euro zone may post a growth rate [...]

Interview: Ex-Fed official says U.S. monetary policy unlikely to reverse before rapid change in inflation expectations

Posted on May 16, 2011 in AllEconomic News

The U.S. Federal Reserve (Fed) is unlikely to reverse its relaxed monetary policy before there is rapid movement in the inflation expectation, said Randall Kroszner, a former member of the Federal Reserve (Fed)’s board of governors. The Fed usually bases its monetary policy decision on such forward-looking indicators as inflation expectation. “A movement of 50-75 [...]

Interview: Chinese economy to have soft landing: Swedish bank senior economist

Posted on May 11, 2011 in AllEconomic News

Sweden’s SEB bank senior economist Klas Eklund thinks that the Chinese economy will have a soft landing even though there is a high inflation currently. Eklund made the comment in an exclusive interview with Xinhua during the break of a seminar moderated by him and organized by China Alliance in Stockholm on Tuesday. “I think [...]

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