CurrencyShares Chinese Renminbi Trust ETF
 (FXCH)

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  • Sun, Feb. 7, 9:31 AM
    • The Peoples Bank of China discloses that its foreign-exchange reserves fell by almost $100B in January.
    • The decrease is less than the $120B drop forecast by economists.
    • Beijing's fierce defense of the yuan has reduced its foreign exchange reserves to a three-year low.
    • Related ETFs: FXI, YINN, GXC, PGJ, FXP, CYB, YANG, CNY, MCHI, CHN, TDF, XPP, YAO, YXI, CN, GCH, FCA, FXCH, JFC, CXSE.
    | Sun, Feb. 7, 9:31 AM | 22 Comments
  • Fri, Feb. 5, 2:45 PM
    • Already at a three-year low, China's foreign-exchange reserves fell by $118B to $3.2T in January, according to economists' estimates. That would exceed the current record $108B whoosh in December. For all 2015, reserves fell more than $500B - the first annual decrease in nearly a generation.
    • The PBOC is tasked with taking the other side of a weakening yuan and massive capital outflows. “It’s an astounding reduction in their capital account position," says a fund manager. "The economy itself cannot turn this around."
    • The official number from the PBOC is due on Sunday.
    • Source: Bloomberg
    • ETFs: FXI, YINN, GXC, PGJ, FXP, CYB, YANG, CNY, MCHI, CHN, TDF, XPP, YAO, YXI, CN, GCH, FCA, FXCH, JFC, CXSE
    | Fri, Feb. 5, 2:45 PM | 20 Comments
  • Wed, Jan. 27, 11:15 AM
    • Among Beijing's strategies is a warning to George Soros not to attempt to do the PBOC what he famously did to the Bank of England (broke it) in the early 1990s. "Declaring war on China's currency? Ha ha," is the title of the article in the Communist Party's mouthpiece.
    • Other steps include curbing the ability of foreign companies in China to repatriate earnings, lowering the amount available for banks in Hong Kong to make yuan loans, and banning yuan-based funds for overseas investments.
    • “They’re sparing no effort to prevent capital outflows,” says a Chinese banking executive . “All the measures are the most aggressive I’ve seen in recent history.”
    • The moves come as the central bank burns through hundreds of millions of dollars from its massive (but far less today) foreign exchange reserves.
    • ETFs: FXI, ASHR, CAF, YINN, PGJ, GXC, FXP, CYB, YANG, CNY, CHN, PEK, MCHI, TDF, XPP, YAO, GCH, YXI, CN, CXSE, FXCH, FCA, CHNA, KBA, JFC, AFTY, CHAU, CHAD, ASHX, XINA
    | Wed, Jan. 27, 11:15 AM | 44 Comments
  • Sun, Jan. 17, 5:40 AM
    • China's central bank is preparing to raise the reserve requirement ratio for yuan deposits placed in yuan clearing banks from Jan. 25, Reuters reports.
    • Market participants suspect the planned reserve increase is intended to soak up additional liquidity in the offshore market as the PBOC tries to stem speculation of further depreciation in the currency.
    • The central bank, which had established the reserve requirement ratio for offshore yuan participating banks in 2014, will return the rate to a normal level, the sources said, without specifying what that level would be. It had been set at zero.
    • ETFs: CYB, CNY, FXCH
    | Sun, Jan. 17, 5:40 AM | 8 Comments
  • Sun, Jan. 10, 7:38 AM
    | Sun, Jan. 10, 7:38 AM | 18 Comments
  • Dec. 24, 2015, 3:07 AM
    | Dec. 24, 2015, 3:07 AM
  • Dec. 14, 2015, 3:40 AM
    | Dec. 14, 2015, 3:40 AM | 8 Comments
  • Dec. 9, 2015, 4:08 AM
    | Dec. 9, 2015, 4:08 AM | 19 Comments
  • Dec. 9, 2015, 2:23 AM
    | Dec. 9, 2015, 2:23 AM
  • Dec. 1, 2015, 4:43 AM
    • So what's next for the yuan now that the IMF has added the currency to its Special Drawing Rights basket?
    • 1) Effective Oct. 1, 2016, the renminbi will officially be recognized as a reserve currency, meaning central banks will have an alternative for foreign exchange reserves.
    • 2) The basket's currency weighting will get mixed up, with the euro seeing the biggest percentage drop from the new formula.
    • 3) The yuan also meets criteria of being "freely usable," or widely used for international payments and in foreign exchange markets, boosting China's influence in the global economy.
    • Previously: IMF approves addition of yuan to SDR basket (Nov. 30 2015)
    • ETFs: CYB, CNY, FXCH
    | Dec. 1, 2015, 4:43 AM | 1 Comment
  • Nov. 30, 2015, 8:20 PM
    | Nov. 30, 2015, 8:20 PM | 4 Comments
  • Nov. 30, 2015, 12:32 PM
    • The Chinese currency will join the greenback, the euro, cable, and the yen in the basket making up the IMF's Special Drawing Rights.
    • The IMF's approval vote was expected and reported on earlier.
    • The new basket will launch on Oct. 1, and the yuan will have a 10.92% weighting. The U.S. dollar's weighting will fall to 41.73% from 41.9%, the euro's weighting drops all the way to 30.93% from 37.4%, the pound to 8.09% from 11.3%, and the yen to 8.33% from 9.4%.
    • ETFs: CYB, CNY, FXCH
    | Nov. 30, 2015, 12:32 PM | 13 Comments
  • Nov. 30, 2015, 4:43 AM
    • The International Monetary Fund is expected to grant China's yuan reserve currency status at an executive board meeting today, in a decision that will elevate the renminbi and China's influence in the global economy.
    • The group's benchmark currency basket, also known as special drawing rights, so far contains the U.S. dollar, euro, British pound and Japanese yen.
    • While the decision is likely to be announced later today, the yuan will not officially become a reserve currency until September 2016.
    • ETFs: CYB, CNY, FXCH
    | Nov. 30, 2015, 4:43 AM | 7 Comments
  • Nov. 20, 2015, 4:43 AM
    • China's yuan may enter the IMF's benchmark currency basket at a lower weighting than previously estimated as the institution considers making weights less related to export volumes and more dependent on financial flows, Reuters reports.
    • Such a change would give the renminbi a lower share in the basket than under the current formula. IMF policymakers are expected to vote on the currency's  inclusion to the Special Drawing Rights basket on Nov. 30.
    • ETFs: CYB, CNY, FXCH
    | Nov. 20, 2015, 4:43 AM
  • Nov. 16, 2015, 2:40 AM
    • IMF staff on Friday officially recommended the renminbi be included in its Special Drawing Rights basket, but Japan is still warning China to go slow on yuan reform.
    • "The pace of capital outflows is alarming," a senior official with knowledge of Japan's currency diplomacy told Reuters. "If China's financial system is destabilized, the effect on Japan and the rest of Asia would be enormous."
    • An IMF move would be the first change in the SDR's currency composition since 2001, when the euro replaced the German mark and French franc.
    • ETFs: CYB, CNY, FXCH
    • Previously: Yuan set to join currency big leagues (Nov. 14 2015)
    | Nov. 16, 2015, 2:40 AM | 3 Comments
  • Nov. 14, 2015, 3:41 PM
    • IMF staff have officially recommended that the yuan be included in its Special Drawing Rights ("SDR") basket, alongside the dollar, euro, pound and yen, making approval by the IMF board an almost certainty.
    • This will be the first change in the SDR’s currency composition since 2001, when the euro replaced the German deutsche mark and French franc.
    • The move could make more countries comfortable to include the yuan in their forex holdings, and help President Xi Jinping’s drive to open up the world’s second-biggest economy.
    • The yuan was last reviewed in 2010, and was rejected after the IMF found the currency wasn't sufficiently "freely usable."
    • ETFs: CYB, CNY, FXCH
    | Nov. 14, 2015, 3:41 PM | 21 Comments
FXCH Description
The CurrencyShares Chinese Renminbi Trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.
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Country: China
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