Offshore Yuan Drops Most in Two Weeks as Zhou Rules Out Support
Monday,14/03/2016|01:25GMTby
Bloomberg News
The offshore yuan fell the most in two weeks after China’s central bank governor ruled out the need for any...
The offshore yuan fell the most in two weeks after China’s central bank governor ruled out the need for any major measures to boost growth even as data released over the weekend pointed to a slowing economy.
The currency has returned to a more “normal, rational and fundamentals-driven” trend, Zhou Xiaochuan told reporters on Saturday, adding that excessive monetary stimulus isn’t necessary to achieve the nation’s expansion target of at least 6.5 percent over the next five years. The dollar’s 14-day relative-strength index against the offshore yuan neared a level on Friday that indicates to some traders that the greenback will strengthen.
The Chinese currency traded in Hong Kong retreated 0.13 percent, the most since Feb. 26, to 6.4903 a dollar as of 10:19 a.m. local time, prices compiled by Bloomberg show. It rose 0.35 percent on Friday to the strongest level since early December. The yuan in Shanghai fell 0.02 percent to 6.4946. The People’s Bank of China kept its daily fixing, which restricts onshore moves to 2 percent on either side, little changed at 6.4913.
“The yuan’s gain on Friday was quite sharp and it’s going through some adjustments now," said Kenix Lai, a foreign-Exchange analyst at Bank of East Asia Ltd. in Hong Kong. "The market was also disappointed by Zhou’s comments as investors were expecting more interest-rate and bank reserve-requirement-ratio cuts to shore up growth because economic fundamentals are quite weak."
Data Miss
The nation’s industrial output climbed 5.4 percent from a year earlier in January and February, the National Bureau of Statistics said Saturday, compared with the 5.6 percent median estimate of economists surveyed by Bloomberg. Retail sales climbed 10.2 percent from a year earlier, missing the 11 percent projected gain, while fixed-asset investment exceeded estimates with a 10.2 percent increase.
The CFETS RMB Index dropped to the lowest level since the gauge was unveiled in December as of Friday, according to data released Monday. This suggests that the yuan is weakening against the basket.
The Yield on government bonds due January 2026 declined one basis point to 2.85 percent, the lowest in three weeks, data from the National Interbank Funding Center show. The seven-day repurchase rate, a gauge of interbank funding availability, fell two basis points to 2.26 percent, according to a weighted average from the National Interbank Funding Center.
--With assistance from Helen Sun To contact Bloomberg News staff for this story: Tian Chen in Beijing at tchen259@bloomberg.net. To contact the editors responsible for this story: Richard Frost at rfrost4@bloomberg.net, Robin Ganguly, Phani Varahabhotla
The offshore yuan fell the most in two weeks after China’s central bank governor ruled out the need for any major measures to boost growth even as data released over the weekend pointed to a slowing economy.
The currency has returned to a more “normal, rational and fundamentals-driven” trend, Zhou Xiaochuan told reporters on Saturday, adding that excessive monetary stimulus isn’t necessary to achieve the nation’s expansion target of at least 6.5 percent over the next five years. The dollar’s 14-day relative-strength index against the offshore yuan neared a level on Friday that indicates to some traders that the greenback will strengthen.
The Chinese currency traded in Hong Kong retreated 0.13 percent, the most since Feb. 26, to 6.4903 a dollar as of 10:19 a.m. local time, prices compiled by Bloomberg show. It rose 0.35 percent on Friday to the strongest level since early December. The yuan in Shanghai fell 0.02 percent to 6.4946. The People’s Bank of China kept its daily fixing, which restricts onshore moves to 2 percent on either side, little changed at 6.4913.
“The yuan’s gain on Friday was quite sharp and it’s going through some adjustments now," said Kenix Lai, a foreign-Exchange analyst at Bank of East Asia Ltd. in Hong Kong. "The market was also disappointed by Zhou’s comments as investors were expecting more interest-rate and bank reserve-requirement-ratio cuts to shore up growth because economic fundamentals are quite weak."
Data Miss
The nation’s industrial output climbed 5.4 percent from a year earlier in January and February, the National Bureau of Statistics said Saturday, compared with the 5.6 percent median estimate of economists surveyed by Bloomberg. Retail sales climbed 10.2 percent from a year earlier, missing the 11 percent projected gain, while fixed-asset investment exceeded estimates with a 10.2 percent increase.
The CFETS RMB Index dropped to the lowest level since the gauge was unveiled in December as of Friday, according to data released Monday. This suggests that the yuan is weakening against the basket.
The Yield on government bonds due January 2026 declined one basis point to 2.85 percent, the lowest in three weeks, data from the National Interbank Funding Center show. The seven-day repurchase rate, a gauge of interbank funding availability, fell two basis points to 2.26 percent, according to a weighted average from the National Interbank Funding Center.
--With assistance from Helen Sun To contact Bloomberg News staff for this story: Tian Chen in Beijing at tchen259@bloomberg.net. To contact the editors responsible for this story: Richard Frost at rfrost4@bloomberg.net, Robin Ganguly, Phani Varahabhotla
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Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
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Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
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In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
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#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
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#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
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#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
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-Stephen Miles, Chief Revenue Officer at FYNXT
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#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
