Today we learned from multiple reports emanating from the People's Bank of China (PBoC) that the Chinese central bank is going to place a reserve requirement on offshore renminbi, still mostly traded through Hong Kong banks. The move could be aimed at discouraging speculators that continue to bet that the CNH - offshore yuan could go lower. This all…
Read moreSwiss Forex broker Dukascopy is about to axe the maximum leverage for yuan trades, explaining the change with high volatility and probability of low liquidity on USD/CNH currency pair during the coming time. The broker noted that there is a high risk of significant price gaps, which may lead to negative equity on client accounts.…
Read moreWith the International Monetary Fund (IMF) today formally voting to include China's currency in its benchmark SDR currency basket, effective next October, we are pleased to share with LeapRate readers the views expressed by Darryl Hooker, Global Co-Head of EBS BrokerTec, the electronic FX trading arm of interdealer broker ICAP plc (LON:IAP). Mr. Hooker notes: Today’s decision…
Read moreThe Dubai Gold and Commodities Exchange (DGCX) on Friday unveiled its plans to add Chinese Yuan Futures to its offering, with the launch scheduled for December 2015, pending regulatory approvals. The contract will be financially settled on the same day as offshore equity index futures, and will hold a value of USD 50,000. It will…
Read moreSingapore Exchange Limited (SGX:S68) saw a strong rise in USD/CNH futures trading during the year after the trading instrument was launched on the Exchange. SGX announced today that the trading volume for SGX USD/CNH futures has exceeded US$167 billion in notional value traded since the onset of such trading 12 months ago. For the month of…
Read moreThe decision by the People’s Bank of China to steeply cut daily reference rates for the renminbi led to a record volume of 6,177 USD/CNH futures contracts traded on SGX on August 12, 2015.
Read moreThe People's Bank of China decided to devalue the yuan on Tuesday August 11th, 2015, allowing the currency to weaken against the dollar to its lowest point in nearly three years.
Read moreApparently, the two new USD/RMB FX futures contracts have successfully gained traction from market participants.
Read moreAfter months and weeks of preparation to clear regulatory hurdles, the Taiwan Futures Exchange finally announced today in an official notice that RMB futures will launch on Monday, July 20th. You can read the official notice below: The USD/CNT FX futures(RTF) and USD/CNH FX futures(RHF) will be launched on July 20th. The position limits of…
Read moreThe sudden move has erased all of the yuan's losses this year and squeezed companies that have bet CNY would fall further this year as the Chinese economy cools off and U.S monetary authorities debate rate hikes in the near future.
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