By G. R. Harrison (2014)
Continuing in our ‘Appraisal Reports’ for major Currencies of late, we come next to the Chinese Yuan.
The current price chart of the CNY/USD for a multi-year period is shown to the left. This particular chart was prepared some days ago.
Although most media have been reporting the recent upswing in the Yuan, the underlying momentum for this market is still downwards in direction.
We’ll take a more recent snapshot of this market with the next chart down.
This second chart shows that the downward drift of prices has continued even further.
To further confirm the down trend of the Chinese Yuan as indicated by the CNY/USD chart, we should expect prices to decline over time. Let’s see if this is so . . .
This is the current trend for this currency which, in turn, strengthens the Chinese economic position by decreasing the costs of their exports.
As the Economy of a nation is reflected in it’s currency, we can draw some conclusion from the emphasis that nation places on it’s money.
As the US DOLLAR is rising, causing exports to be more expensive from the USA, China is purposefully decreasing the value of it’s controlled currency in order to maintain it’s World exporting edge and to support it’s own industries.
This places China in the stronger position of the two economically relative to supporting it’s own industrial base. – George
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