Seeking Alpha

Market Vectors Chinese Renminbi/USD ETN (CNY)

  • Mar. 22, 2011, 7:24 AM
    The yuan rises to a record, the greenback buying just 6.5552 renminbi. The currency has now jumped 4.1% against the dollar since June, quite a bit ahead of the 3% annual rate hoped for by authorities. Some have urged faster appreciation to help combat speedy Chinese inflation.
    | Comment!
  • Mar. 15, 2011, 10:39 AM
    For the 3rd consecutive month, China is a net seller of U.S. Treasuries, unloading $5.4B worth in January following $15B in the 2 previous months. Not a huge number compared to China's near $1.2T stash, but still more than 1% of its holdings.
  • Mar. 15, 2011, 9:33 AM
    Dashing the hopes of Nicolas Sarkozy, China says discussion of its yuan policy will not be on the agenda at a currency conference in Nanjing later this month. A government spokeswoman says an earlier WSJ article saying China would discuss its exchange rate was "erroneous."
    | Comment!
  • Mar. 15, 2011, 7:15 AM
    Chinese shares have emerged relatively unscathed from the crisis thus far, bouncing off lows to close -1.4%. Yet Japan is China's largest trade partner, supplying the goods that keep its industrial base humming. Analysts at BNP see a "profound impact" on China in Q2.
    | Comment!
  • Mar. 14, 2011, 9:08 AM
    China's February money growth and bank lending came in below expectations as tighter monetary policy took hold and the government made headway in taming inflation. M2 grew 15.7% and loans were 536B yuan ($82B) vs. forecasts of 17% and 650B yuan respectively.
    | Comment!
  • Mar. 14, 2011, 7:31 AM
    Chinese Premier Wen Jiabao rejects using yuan appreciation for gaining control over consumer prices. Mentioning Fed policy as a key reason for inflation, Wen is confident his government has tools other than the currency to prevent accelerating prices.
    | Comment!
  • Mar. 11, 2011, 7:33 AM
    Chinese inflation comes in slightly hot in February, rising to 4.9% vs. expectations of a 4.8% increase. Markets brace for higher interest rates after PBOC Gov. Zhou plays down the role of using currency appreciation to curb inflation. China -0.8%.
    | Comment!
  • Mar. 10, 2011, 4:48 PM
    Initially cool to the idea, China's high level participation in a currency forum in Nanjing may signal more flexibility in its yuan policy. Curiously, it's the U.S., which considers the meeting a distraction from getting China to be less reliant on exports, which has little interest in the gathering.
    | Comment!
  • Mar. 10, 2011, 9:34 AM
    Calling for full yuan convertibility in the next 10 years, PBOC board member Xia Bin stops short of advocating a sharp increase in the currency's value. "Hiking the exchange rate is definitely beneficial for curbing inflation ... but we can adopt many other ways to achieve that goal."
    | 1 Comment
  • Mar. 10, 2011, 7:15 AM
    China's February trade deficit of $7.3B is the largest in 7 years, and confounds predictions of a $5B surplus. Even with the Lunar New Year affecting the results, it could mean the oft-rumored slowdown in China has arrived. China -1.5%, and a lot of red on this commodity screen.
  • Mar. 8, 2011, 7:15 AM
    While saying strong economic growth is likely to lead to credit upgrades in coming years, S&P warns capital flows and inflation pose the key risks to Asian economies. The way out: tighter monetary policy and allowing currencies to rise.
    | Comment!
  • Mar. 3, 2011, 11:52 AM
    "I can't imagine anything more disastrous to our country," says investor Sam Zell about his worry that the dollar loses reserve currency status. "An awesome benefit that no other country has," claims Zell, who says the end result of dollar weakness will be sharply lower living standards.
  • Mar. 1, 2011, 4:19 PM
    Lu Mai, an influential Chinese economist, pegs the yuan's undervaluation at about 8%, not so big of a worry for the U.S. Believing Chinese inflation has more to do with rising labor costs and over-expansion of bank credit then too cheap of a currency, Mr. Lu thinks the current gradual rise in the yuan is the correct policy.
    | 1 Comment
  • Mar. 1, 2011, 1:04 PM
    Western banks hoping to get in on the exploding yuan trade will have to bide their time as Chinese state-run banks continue to dominate the action. HSBC expects 50% of China's trade with emerging markets to be settled in renminbi within 3-5 years, from less than 3% currently.
    | Comment!
  • Feb. 28, 2011, 10:17 AM
    Talk of a "currency war" gives way to a "truce" as emerging economies call off the fight against currency appreciation to assist in their battle against inflation. "The quickest way to put a cap on inflation is to look at ways that would strengthen your currency," says a Nomura analyst. Emerging currency ETF: CEW.
    | 1 Comment
  • Feb. 26, 2011, 8:30 AM
    China can do little about declining returns on its foreign exchange reserves since diversifying into assets like commodities would only skew their prices higher says PBOC vice governor Yi Gang. Looking over a longer time frame than the last 3 years, Mr. Yi says the yuan's rise has been in line with other emerging economies.
    | 1 Comment
Visit Seeking Alpha's
CNY vs. ETF Alternatives
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
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub