|Day's Range||0.141 - 0.141|
|52 Week Range||0.1407 - 0.1410|
Moody's Investors Service cut its rating on the Government of Hong Kong to negative from stable though it kept its Aa2 issuer rating. "The change in outlook to negative reflects the rising risk that the ongoing protests reveal an erosion in the strength of Hong Kong's institutions, with lower government and policy effectiveness than Moody's had previously assessed, and undermine Hong Kong's credit fundamentals by damaging its attractiveness as a trade and financial hub," the rating agency said.
The trade war won’t cause a recession, because the real threat to the U.S. expansion comes from a failure on the part of the Fed to respond to weakness in aggregate demand.
The executive board of the International Monetary Fund on Friday said policy measures already announced by Beijing should be enough to deal with the hit to the economy from the U.S.-China trade battle, but that additional stimulus could be warranted if rising tensions put economic and financial stability at risk. In a regular assessment, IMF directors continued to call for more exchange-rate flexibility and policy transparency, with some directors also calling for disclosure of FX interventions. The U.S. earlier this week formally labeled China a currency manipulator after Beijing failed to arrest a fall in the yuan that saw the currency trade at more than 7 per dollar. In a July report, also released Friday, IMF staff aid that despite a depreciation in the value of the yuan versus the dollar after August of last year, the currency was broadly stable against a basket of currencies and that estimates "suggest little FX intervention" by the People's Bank of China.
The ratcheting up of trade tensions between the world’s two largest economies means the U.S. should curry favor with its other trading partners, one analyst told Yahoo Finance.
The trade war between the United States and China escalated Monday, prompting a shocking downswing of over 750 points on the Dow, and forcing investors to temper their former optimism about a deal.
Top Wall Street strategists are lowering their expectations of a near-term trade deal between the U.S. and China.
U.S. stocks fell Monday to their lowest levels in 2019 — how the Federal Reserve can help consumer confidence amid an escalating trade war.
China’s devaluation of its currency as a weapon in the ongoing trade war with the U.S. may result in a more aggressive Federal Reserve.
President Donald Trump reacted to China's currency falling below a key level, sending a tweet showing his displeasure. The People's Bank of China didn't get in the way of the China yuan falling below 7 to the dollar overnight. "China dropped the price of their currency to an almost a historic low. 'It's called 'currency manipulation.' Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time," Trump tweeted. The Treasury Department has never ruled that China has manipulated its currency during the Trump administration.
China's yuan currency came under pressure Thursday after President Donald Trump said the U.S. would impose a 10% tariff on $300 billion of Chinese goods beginning Sept. 1. In offshore trade, the U.S. dollar traded at 6.9588 yuan in recent action, up 0.7%, after hitting its strongest level versus the currency since November, according to FactSet. The 7.0 yuan level has long been viewed as an important psychological barrier that Chinese authorities have sought to defend.
The ongoing protests in Hong Kong have put more stress on the already fraught situation. All flights into and out of the city's international airport have been canceled for the day due to the peaceful protests staged because of mainland China's influence over the Hong Kong government. Meanwhile,The People's Bank of China continues to set the yuan lower, further devaluing the currency. Of course with the escalating U.S.-China trade war, investors have been watching the dollar/yuan exchange rate closely.
Trade tensions are continuing to escalate as China signals it may continue to weaken its currency. China's central bank set the yuan midpoint above seven to the American dollar for the first time in over a decade. Yahoo Finance's Julie Hyman and Adam Shapiro chat with James Camp, managing director of fixed income at Eagle Asset Management, about this move and its effect on the trade war.
Yahoo Finance’s Adam Shapiro, Julie Hyman, and Brian Cheung join Direxion Managing Director & Head of Product Dave Mazza and Invesco Senior Portfolio Manager Alessio de Longis.
After a major stock market drop yesterday, investors have seemed to come back feeling a little more optimistic today. Keith Bliss of Cuttone & Co. joins Yahoo Finance's Alexis Christoforous live from the NYSE to break down the details.
Earlier today President Donald Trump labeled China a currency manipulator. Yahoo Finance's Fed correspondent Brian Cheung, joined 'The Final Round' to discuss.
Stocks plummet as trade fears escalate. Yahoo Finance's Zack Guzman & Brian Cheung, along with NY Post Hedge Fund reporter Carleton English discuss with Milken Institute Chief Economist William Lee.
Stocks see worst day of 2019 as U.S.-China trade war concerns escalate. Yahoo Finance's Zack Guzman, Brian Cheung & Julia LaRoche, along with NY Post Hedge Fund reporter Carleton English discuss with Hayman Capital Management Founder & Chief Investment Officer Kyle Bass.
Global stocks continue to plunge as China lets Yuan weaken past 7 dolla market, amid ongoing tension with the United States. Yahoo Finance's Ines Ferre talks to Matthew Cheslock, a trader at the New York Stock Exchange for his take on how the markets will continue to react.