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US dollar dominance continues as Yuan hits 16 year low
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Friday 8th Septembr 2023
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The US dollar continues to hold its strength against weak economic data from Europe and a continuing slide in the Yuan, which has hit a 16-year low. But, JBWere’s Sally Auld says there was a glimmer of hope in China’s trade numbers for August, with signs that export activity is stabilising after significant falls earlier in the year. But we shouldn’t expect any massive upswing anytime soon. Australia’s trade surplus narrowed with a fall in export growth, but a rise in imports, driven in part by people buying cars. Philip Lowe used his farewell speech yesterday to reemphasise his concerns over Australia’s falling productivity. Europe delivered further signs of weakness. Over the weekend China delivers CPI and PPI.
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