The CNY is on the Move Again & Could Be Good for Gold

27 Apr, by Steven Vannelli, CFA in Economy, Markets

With inflation receding in the US, the Chinese Yuan (CNY) has been depreciating. At peak US inflation, the CNY got down to 6.35, while it has risen to 6.92 in the last year. Inflation getting back to 2% would seem to be consistent with a...

Chinese Devaluation Seems Likely

16 Aug, by Steven Vannelli, CFA in Economy

Over the weekend, we got a slew of data showing a generally weak economy. Below are the actual data compared with the expectations from Bloomberg. Of course, the headline grabber was the -31.4% drop in residential property sales, but across the board, from industrial production to...

The Chinese Devaluation Continues

11 May, by Steven Vannelli, CFA in Economy, Markets

Just today, as US inflation came in a touch hotter than expected, the Chinese Yuan is pulling lower, testing the lows of May 9, 2022. The five-day rate of change is fairly extreme by anything we’ve seen over the last few years. The last time...