Daily News | Chinese business interests are safe?

What a week is in store for us! We have plenty of data on all the most interesting news stories of the day, so let us get started. This Tuesday, we start with the euro. From Friday to Monday, the currency fell from $1.0832 to $1.0721. This could be the result of risk taking in banking, something that could be a potential threat for Eurozone banks. Poor profitability still raises concerns, regardless of the fact that these banks have been more resilient than before Europe’s debt crisis, at least, according to the European Central Bank. What the ECB will have to focus on going forward, is that the viability of business models is one of the main points of attention. As always, we shall continue to monitor the situation, but let us now look at the US dollar. In the same timeframe, the USD rose from €0.9231 to €0.9326. As this stabilization of the currency was occurring, Chinese officials have suggested that the newly-elected Trump administration should consider supporting a Beijing-backed free trade deal in the Asia-Pacific. Trump’s protectionist stance on trade issues, such as the Trans-Pacific Partnership, could further those plans. This would keep the States out of Asian trade deals and Chinese business. We will have to wait how this will develop in the coming weeks.

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Author: Max Rothstein

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