Daily News | Yuan surge supports Chinese industry

We are at the start of another exciting week of global binary options trading, with plenty of exciting and new prospects on the currency market! Join us in our official roundup of the most profitable stories of the day. This Monday, we take a look at the Chinese yuan. From Thursday to Friday, the currency rose from $0.14558 to $0.14582. Firms in the Chinese industry rose 14% in April, which was shown by official data on Saturday, which was slower in pace than in March. In the first four months of the year, the yuan reached profits of 2.28 trillion, up by nearly a quarter from the same period last year. We will continue to keep track of how the Chinese industry keeps developing, but, for now, we shall switch to the US dollar. In the same period, the USD rose from €0.8915 to €0.8952. Gross domestic product increased by 1.2% as well, instead of the 0.7% pace reported last month. This was the worst performance in a year. The data we currently possess shows that a second quarter bounce seems a bit unconvincing at the moment. President Trump vowed to get growth up to 4%, while his current administration has set 3% as a more realistic goal. We will continue to look into this in the future, so be sure to stick with us tomorrow as well!

Daily News | Try out this broker!

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Author: Max Rothstein

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