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The trade war between China and the United States, which manifested itself on US equities, the dollar and the Chinese yuan, closed on Tuesday up more than 1% of US stocks, after a strong sale in the previous session, while China intervened to stabilize the yuan The Dow Jones Industrial Average index rose 312.66 points, or 1.22%, to 26030.4 points, and the S & P 500, of 37, 09 points, or 1.30%, to 2881.83, easing fears that currencies were the last weapon of the US-China trade war. Point, and the NAS slider climbed the complex points AAC 107.23 or 1.39% to 7833.27 points.
The President of the United States, Donald Trump, denounced China's action on its currency while Beijing allowed the yen to break the 7 yuan mark against the dollar for the first time since more than one year. decade, calling it a "major violation".
Trump wrote on "Twitter". China has lowered the price of its currency to an almost historic level. She calls herself "currency manipulation", do you mean me, the US Federal Reserve (US central bank)? This is a major violation that will significantly weaken China over time! ".
The Trump announcement extends US tariffs to almost all Chinese imports.
China pledged last Friday to follow up on Trump 's decision, which ended a month – long truce and that the trade war is affecting economic growth, reducing the demand for commodities such as: than oil. China is taking steps to prevent the currency from depreciating further after a sharp fall has prompted the US government to declare that China is manipulating its currency.
China announced on Tuesday that it was selling yuan-denominated notes in Hong Kong, ostensibly to control the sale of foreign currency borrowings.
In addition, the People's Bank of China (BOJ) set the daily reference rate of the currency at 6.9683 yuan for intra-country trade, above the expected level of 6.9871 but below the dollar level of seven yuan exceeded Monday by the Chinese currency. The yuan in overseas transactions rose 0.4% to 7.0677 yuan to the dollar, after falling to 7.14 on Monday night, its lowest level since the start of foreign currency transactions in 2010 .
The yuan also recorded transactions in the country of 7.0699 yuan to the dollar on opening, compared to the previous close of 7.0498.
The slight appreciation of the yuan diverted the attention of investors from safe haven currencies, leading to a fall in the yen and the Swiss franc.
The yen fell 0.6% to 106.56, down from the overnight peak of 16 months, with the exception of a surprise fall in January, and the Swiss franc lost 0.2 % from the 25-month high reached on Monday.
The euro remained stable at $ 1.1208 after peaking 18 days against the dollar overnight. The dollar index, which tracks the performance of the greenback versus a basket of six major currencies, remained stable at 97.57.
The British pound rose 0.3% to $ 1.2176, which is close to the 31-month low last week. Against the euro, the pound hit a new low of 23 months Tuesday at 92.49, but rose 0.2% to 92.04 pence.
Oil prices fell by more than 1% on Tuesday and Brent crude closed near its lowest level in seven months at $ 60 a barrel, fearing weak global demand due to trade tensions between the United States and the United States. China.
During the session, Brent traded at $ 58.81 per barrel, down more than 22% from April's high.
Brent lost more than 9% over the past week as US President Donald Trump promised to impose new tariffs on imports from China and Beijing taking further action against US farm supplies.
The United States also reacted to the decline of the Chinese yuan by categorizing the Chinese currency manipulator.
Futures contracts on Brent fell 87 cents (1.45%) to $ 58.94 a barrel.
Standard wheat futures in the western United States in Texas fell $ 1.06, or 1.94%, to $ 53.63 a barrel.
Global stocks hit their all-time low in two months and Brent fell more than 3% on Monday as traders feared that the dispute between the world's biggest oil buyers will undermine demand, which has led a city center cover on Tuesday.
Oil prices may receive some support after the settlement on Tuesday, after a Reuters poll showed that crude oil inventories in the United States are expected to decline for the eighth consecutive week.
The American Petroleum Institute is expected to release its weekly inventory data at 8:30 pm GMT, with the government scheduled to release official figures on Wednesday.
Data from the American Petroleum Institute showed Tuesday crude inventories in the United States declined last week, while gasoline inventories fell and distillate stocks increased.
Crude inventories fell 3.4 million barrels during the week ending Aug. 2 to 439.6 million barrels, while badysts forecast a decline of 2.8 million barrels. barrels.
Crude stocks at the delivery point in Cushing, Oklahoma, fell 1.6 million barrels, the institute announced.
Data from the Institute of Petroleum indicate a high crude oil refinery consumption of 574,000 barrels per day.
Gasoline inventories fell by 1.1 million barrels, while badysts forecast a drop of 722,000 barrels.
Distillate inventories, which include diesel and fuel oil, increased 1.2 million barrels, up from 482,000 barrels, according to the Petroleum Institute.
US crude oil imports increased by 442,000 barrels per day to 7.1 million barrels per day.
The Chinese yuan fell by more than 1% to its lowest level in 11 years on Monday, as fears of a sharp escalation of the US-China trade war led to a decline in other currencies of the region.
The growing concern over the trade war pushed investors to turn to safe haven badets and the yen hit a seven-month high against the dollar.
The yuan has suddenly surpbaded seven yuan for the first time since the global financial crisis, a level that some traders consider essential support.
The yuan fell to 7.1137 yuan for one dollar in overseas transactions and 7.0424 yuan for one yuan in the country.
This comes days after US President Donald Trump surprised the markets and announced that he would impose more tariffs on Chinese products.
In recent transactions, the yuan fell 1.5 percent to 7.0839 yuan against the dollar and 1.3 percent to 7.0319 against the dollar for an internal exchange, the first time the yuan Exchange above seven yuan for one dollar since May 2008.
Yuan losses pushed many currencies in the region down.
The Australian dollar lost 0.35% to 0.6773 dollar, approaching its lowest level in seven months, to 0.6748 dollar.
The Korean won fell 1% to a three-year low of 1 218.3 won against the dollar.
But the dollar has fallen relative to traditional safe haven currencies.
The dollar fell to 105.80 yen, its lowest level since a sharp fall in January. It was down 0.5% to 106.07 yen.
The single currency rose 0.15% to US $ 1,1122, continuing its recovery after reaching its two-year low of US $ 1,1027.
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