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Market Vectors Chinese Renminbi/USD ETN (CNY)

  • Apr. 22, 2011, 6:41 AM
    Fears about U.S. debt sends China's yuan to another high against the dollar as it hits CNY6.5067 compared with 6.5205 late yesterday. Capital Economics says the yuan is still undervalued and expects it to finish the year at CNY6.20 to the dollar.
    | Apr. 22, 2011, 6:41 AM | Comment!
  • Apr. 21, 2011, 11:37 AM
    The Fed's Real Broad Trade-Weighted Dollar Index drops to 40 year lows. Chart readers have a look - either a trend line has been broken with the next stop zero, or the greenback has hit resistance and is due for a serious bounce.
    | Apr. 21, 2011, 11:37 AM | 2 Comments
  • Apr. 20, 2011, 4:37 PM
    A series of comments in recent days is leading to speculation the Chinese will allow faster appreciation of the yuan or even a significant one time revaluation. However, even proponents of a stronger yuan aren't buying it. "The economics make sense, but politically it would be impossible to get agreement."
    | Apr. 20, 2011, 4:37 PM | 1 Comment
  • Apr. 20, 2011, 11:38 AM
    A moment of pause for those clamoring to invest in China: a Bain study says a high percentage of rich Chinese are interested in moving themselves and their cash out of the country. The famous Chinese appetite for risk seems to have morphed into a desire to secure wealth.
    | Apr. 20, 2011, 11:38 AM | Comment!
  • Apr. 19, 2011, 12:47 PM
    Stephen Gallo suggests comments from PBOC Gov. Zhou Xiaochuan that Chinese reserves have exceeded a "reasonable" level may be the most important event of the week. Just possibly, authorities are losing patience with efforts to reign in liquidity and are ready to allow the yuan to revalue.
    | Apr. 19, 2011, 12:47 PM | Comment!
  • Apr. 19, 2011, 10:25 AM
    Continuing on a path towards use as an international currency, yuan-denominated transactions were used for about 7% of China's trade in 2011 Q1 vs. little more than zero one year ago.
    | Apr. 19, 2011, 10:25 AM | Comment!
  • Apr. 19, 2011, 7:51 AM
    PBOC Deputy Gov. Hu Xiaolian says there is "considerable room" for further hikes in bank reserve ratios. Interestingly, she notes these increases do not affect bank operations, but are instead to soak up liquidity from foreign direct investment. FDI earlier.
    | Apr. 19, 2011, 7:51 AM | Comment!
  • Apr. 19, 2011, 7:42 AM
    Offsetting attempts by authorities to cool credit growth, FDI into China surges 29% in Q1 from a year earlier, as investors rush to get a stake in the world's fastest growing economy. This is likely to necessitate further monetary tightening and more pressure to let the yuan rise.
    | Apr. 19, 2011, 7:42 AM | Comment!
  • Apr. 18, 2011, 3:12 PM
    The IMF shoots back at emerging economies, warning of a hard landing if more is not done to slow capital inflows into their countries. No criticism is made of developed countries printing the currency which is finding its way into the emerging markets. (earlier)
    | Apr. 18, 2011, 3:12 PM | 2 Comments
  • Apr. 15, 2011, 5:46 PM
    With officials worried about inflation and credit growth spinning out of control, why have Beijing's actions been so tentative? No one is in charge, writes Bob Davis, explaining a web of often competing bureaucracies, each getting a say in any monetary policy move. "Who is China's Bernanke," asks a former PBOC advisor.
    | Apr. 15, 2011, 5:46 PM | 8 Comments
  • Apr. 15, 2011, 1:20 PM
    At the root of China's property bubble is the usual suspect: inflation. Negative real interest rates combined with a lack of investment choices have citizens turning to real estate as a hedge against soaring inflation, writes Loren Brandt. Current exchange rate policy ensures inflation-inducing liquidity will remain.
    | Apr. 15, 2011, 1:20 PM | Comment!
  • Apr. 15, 2011, 9:33 AM
    Desperate for relief on inflation, China is resorting to stricter controls, the NDRC becoming a revolving door of companies brought in and ordered not to raise prices. Note to China from the U.S. circa the 70s: price controls may temporarily suppress prices, but do nothing to reduce inflation.
    | Apr. 15, 2011, 9:33 AM | 3 Comments
  • Apr. 15, 2011, 7:15 AM
    Chinese inflation comes in right on the whisper number, rising to a 5.4% Y/Y rate in March. While the majority of analysts expect just a bit more monetary tightening, Brown Brothers argues for more aggressive action, claiming the PBOC has fallen "behind the curve." China +0.3%.
    | Apr. 15, 2011, 7:15 AM | Comment!
  • Apr. 14, 2011, 7:53 AM
    The Xinhua news agency reports Chinese Premier Wen vowing to "increase the flexibility" of the yuan to combat inflation. It's the first time a senior Chinese official has acknowledged using the currency as a tool against price rises. A Hong Kong source reports March inflation rising to the 5.3-5.4% range.
    | Apr. 14, 2011, 7:53 AM | Comment!
  • Apr. 14, 2011, 7:26 AM
    The PBOC reports China's foreign currency reserves jumping $197B in the 1st quarter to more than $3T. The growth in reserves suggests, despite a 1st quarter trade deficit, China continues to print gobs of yuan to buy up greenbacks. The G-20 gathers tonight in D.C.
    | Apr. 14, 2011, 7:26 AM | Comment!
  • Apr. 11, 2011, 12:50 PM
    The April 29 $1.7B Hong Kong listing of Hui Xian REIT will mark the 1st time investors off the mainland can make a yuan-denominated investment in China. Don't look for a string of such deals to follow - with only $56B of yuan deposits, there isn't enough liquidity in Hong Kong to support many offerings.
    | Apr. 11, 2011, 12:50 PM | Comment!
CNY Description
The Market Vectors-Chinese Renminbi/USD ETN seeks to track the performance of the S&P Chinese Renminbi Total Return Index (SPCBCNY).
See more details on sponsor's website
Country: China
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