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Yuan pressured as Evergrande risks grow; oil lifts commodity currencies

By Kevin Buckland TOKYO (Reuters) - The offshore yuan lingered near an almost one-month low on Tuesday while safe-haven currencies including the dollar benefited as investors...
Yuan pressured as Evergrande risks grow; oil lifts commodity currencies © Reuters. FILE PHOTO: U.S. one dollar and Chinese Yuan are seen in this illustration taken May 7, 2021. REUTERS/Dado Ruvic/Illustration

By Kevin Buckland

TOKYO (Reuters) - The offshore yuan lingered near an almost one-month low on Tuesday while safe-haven currencies including the dollar benefited as investors sought shelter from a potential default by property developer China Evergrande.

Commodity currencies gained amid a rally in crude oil prices, with the Canadian dollar getting an additional boost from a projected election victory for the country's ruling party.

The yuan edged up about 0.1% to 6.4765 per dollar after weakening as far as 6.4879 on Monday, its lowest since Aug. 23. Mainland markets are shut for a public holiday.

"It feels like the market was waiting on something from the Chinese authorities over the weekend to calm the markets and ring-fence the contagion worries from a looming Evergrande default, and that didn’t come," Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a client note.

"Traders sense a credit event is coming."

Analysts at Wells Fargo (NYSE:WFC) expect the yuan to soften to 6.60 per dollar in the next month, its weakest since November.

The U.S. currency had already been rising on expectations the Federal Reserve will signal a start to stimulus tapering at a two-day policy meeting that ends Wednesday.

The dollar index, which measures the currency against six major peers, was largely unchanged at 93.176 after rising overnight to 93.455 for the first time since Aug. 23.

The greenback was mostly flat at $1.17325 per euro after gaining to $1.1700 overnight, a first since Aug. 23.

The Swiss franc weakened slightly to 1.08835 per euro, but still near Monday's peak of 1.08750.

The yen eased back about 0.2% to 128.555 to the single currency, but remained close to its high of 128.155 from Monday, a level not seen since Aug. 20.

The Bank of Japan decides policy on Wednesday, with no change expected to its massive stimulus programme.

Market sentiment has been rattled by potential contagion from Evergrande, which is trying to raise funds to pay a host of lenders, suppliers and investors. A deadline for an $83.5 million interest payment on one of its bonds is due on Thursday, and the company has $305 billion in liabilities.

On Monday, Chinese regulators warned that the company's insolvency could fuel broader risks in the country's financial system if not stabilised.

Defying the risk-averse mood, the Australian dollar rallied 0.25% to $0.7270, rebounding with oil prices after dipping to $0.72205 in the previous session for the first time since Aug. 24.

Norway's krone surged about 0.6% to 8.6765 per dollar, recovering from Monday's slide to 8.7816, a level not seen since Aug. 27.

Canada's loonie popped some 0.4% to C$1.2765 against its U.S. peer as a projected election victory for Prime Minister Justin Trudeau's Liberals reassured investors that economic support would continue, although the party fell short of a majority win.

Sterling ticked 0.13% higher to $1.3675, after sliding to a nearly one-month low of $1.3640 overnight. The Bank of England announces a policy decision on Thursday.

New Zealand's kiwi lost 0.07% to $0.7026, but was off the day's low of $0.7000, the weakest level this month. A 50 basis point hike to the RBNZ's policy rate looks unlikely after the text of a speech from Assistant Governor Christian Hawkesby hinted that the central bank would move in 25 basis point increments.

"NZD/USD has returned to its multi-month range after a failed break higher, and appears likely to correct even lower during the week ahead," targeting $0.6890, Westpac strategist Imre Speizer wrote in a research note.

Cryptocurrencies continued to struggle amid the souring in risk sentiment, with bitcoin down 1.5% to around $42,379 on Tuesday after earlier touching $40,192.90 for the first time since Aug. 6.

Smaller rival ether slipped 0.3% to $2,968.06, after dipping to $2,803.20, also a first since Aug. 6.

========================================================

Currency bid prices at 0536 GMT

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Euro/Dollar $1.1734 $1.1728 +0.06% -3.96% +1.1740 +1.1724

Dollar/Yen 109.5550 109.4000 +0.15% +6.08% +109.6300 +109.5000

Euro/Yen 128.56 128.26 +0.23% +1.29% +128.6400 +128.2400

Dollar/Swiss 0.9275 0.9278 -0.02% +4.85% +0.9281 +0.9265

Sterling/Dollar 1.3675 1.3657 +0.13% +0.10% +1.3677 +1.3650

Dollar/Canadian 1.2763 1.2820 -0.43% +0.24% +1.2822 +1.2760

Aussie/Dollar 0.7271 0.7253 +0.26% -5.47% +0.7276 +0.7249

NZ 0.7025 0.7031 -0.07% -2.16% +0.7028 +0.7000

Dollar/Dollar

All spots

Tokyo spots

Europe spots

Volatilities

Tokyo Forex market info from BOJ

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29-03-2024 01:08:51 (UTC+7)

EUR/USD

1.0797

-0.0029 (-0.27%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0797

-0.0029 (-0.27%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2622

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

USD/JPY

151.38

+0.06 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (2)

AUD/USD

0.6521

-0.0012 (-0.18%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.3535

-0.0032 (-0.24%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (3)

EUR/JPY

163.41

-0.34 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (3)

EUR/CHF

0.9730

-0.0056 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Gold Futures

2,242.80

+30.10 (+1.36%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Silver Futures

25.003

+0.251 (+1.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Copper Futures

4.0113

+0.0113 (+0.28%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Crude Oil WTI Futures

82.98

+1.63 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Brent Oil Futures

86.79

+1.38 (+1.62%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (0)

Natural Gas Futures

1.764

+0.046 (+2.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,252.88

+4.39 (+0.08%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (4)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

+148.58 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,123.05

+8.70 (+0.41%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (5)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0797↑ Sell
 GBP/USD1.2622↑ Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6521↑ Buy
 USD/CAD1.3535Sell
 EUR/JPY163.41↑ Buy
 EUR/CHF0.9730↑ Sell
 Gold2,242.80Sell
 Silver25.003↑ Buy
 Copper4.0113Sell
 Crude Oil WTI82.98↑ Buy
 Brent Oil86.79Buy
 Natural Gas1.764↑ Buy
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,252.88Buy
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,123.05Sell
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,880/ 8,050
(0/ 0) # 1,398
SJC HCM7,900/ 8,100
(0/ 0) # 1,450
SJC Hanoi7,900/ 8,102
(0/ 0) # 1,452
SJC Danang7,900/ 8,102
(0/ 0) # 1,452
SJC Nhatrang7,900/ 8,102
(0/ 0) # 1,452
SJC Cantho7,900/ 8,102
(0/ 0) # 1,452
Cập nhật 29-03-2024 01:08:53
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,221.79+30.771.40%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.69+5.250.07%
Brent$86.67+5.030.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
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