Market drill-down · 5 stories · 30 days
Major and emerging-market currencies, pegs and devaluations.
Currencies on Markets+ ↗<p>Jens Eskelund says Europe may need to allow its companies to become part of Chinese firms’ supply chains</p><p>Europe’s manufacturers could give up on attempting to compete with their Chinese counterparts by the end of the decade if current trends continue amid fears over mass job losses, the head of the European Union Chamber of Commerce in China has warned.</p><p>In a case of “if you can’t beat them, join them”, Jens Eskelund said European companies operating in China were now thinking “Made in China for China” could be replaced by a philosophy of “Made in China for the world”.</p> <a…
The Indian rupee snapped its six-session winning streak on Monday, November 9, as dollar purchases by state-run banks outweighed positive momentum. The currency touched a six-month high of 93.69 per dollar before closing slightly lower at 93.9275.
The Reserve Bank of India currently has a net short position of USD 239 billion in the forward market, which may hinder the rupee's ability to strengthen, even as foreign portfolio investor inflows improve. This influx could potentially be managed by the Reserve Bank, capping any gains for the rupee against the US dollar.
Indian government bonds exhibited limited movement today as oil prices showed signs of stabilization. Investors are remaining cautious, especially with inflation data from both the United States and India on the horizon.
Hong Kong’s Exchange Fund, the war chest used to defend the local currency, reported a 74 per cent tumble in third-quarter earnings amid pervasive market uncertainty. The outlook for the final quarter is also challenging, the Hong Kong Monetary Authority (HKMA) said on Friday.
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Information only, compiled from public sources with AI assistance. Not investment, legal, tax or regulatory advice, and not a recommendation to buy or sell anything. Scenarios describe what could happen and what has happened before; they are not forecasts. Prices are delayed or end-of-day. Always check the original source.
