Thread: Chinese yuan (USD/CNY)

You understand what I think happened? I bet the man who reported the lousy post chosen the button at the upper right on the post that they wanted to quote, instead of the button at the bottom right. The top button is for reporting spam articles... the button on the underside is used to reply to someone by using their quote comprised...

that I don't have any idea why you would be upset with me, I specifically did not do it, as your post was nice... maybe you've misunderstood the language...

Thank you Scott

Originally Posted by ;

Hi . . I thought that is a free forum to post our experience and opinions SMJONES . . Well simply replied to another member's question . I am a very long experienced trader . I certainly understand that yuan is traded on crosses .

I simply replied with my experience . I know that lots of subscribers to the forum are newbies and begineers . I only wish to post a free experienced opinion without being alerted gt; I guess that's exactly what a free and open forum is about .And I think a number of other articles on other threads I read appears to be jokes and children blablabla over the internet . Those articles should be alerted or deleted if u like .But if a brokerage company or establishment offering to exchange the Yuan didn't like my opinion and required frm u time to post me an alarm . I do not know exactly what to say .gt;gt; You can delete my post .

I only thought for some time this forum is a fantastic climbing and shining one among others focusing on Forex markets , but let me state Mr Moderator , I get disappointed ....

It only occured to me that the currencies of two of the biggest countries in the world aren't represented in Forex (that I can see anyway). This made me wonder why and how does a currency get introduced into the Forex market? My brief scan of Google doesn't seem to mention whatever...

Jason

Do not know but they made the rouble fully convertible in July. And the yuan remains far from being fully convertible.

It's funny because I think I was studying in the summertime that Russians are demanding to be paid in roubles instead of USD due to the inadequate performance of the USD. However, Russia was a USD based market... e.g. buying a used car could be done in USD (I think) and a lot of people would be compensated in dollars.

Originally Posted by ;

do not understand but they simply made the rouble fully convertible in July. Along with the yuan remains far from being fully convertible.

It's funny because I believe I had been reading in the summertime that Russians are demanding to be paid in roubles rather than USD because of the poor performance of the USD. But Russia was a USD based market... e.g. buying a used car could be done in USD (I believe) and a lot of people would be paid in dollars.

What do you mean by making them fully convertible?

Jason

Originally Posted by ;

What do you mean by making them fully convertible?

Jason

Jason,in Russia one of three brokers has USD RUR pair.
It is the matter of time RUR to become totally free currency.

Read here http://news.bbc.co.uk/2/hi/business/5135946.stm

Originally Posted by ;

It just occured to me that the currencies of two of the largest nations in the world are not reflected in Forex (I can see anyway). This made me wonder why and just how does a currency get introduced in the Forex market? My brief scan of Google doesn't seem to mention whatever...

Jason

Both pairs could be traded on the CME.

I wonder when will the Chinese currency yuan CNY be a regular in forex.
Currently, it's the most forex market in the world at over USD$1T. YEN is a major currency so not YUAN?

Maybe the answer is when the Chinese CB fully floats the CNY in open market. Hope to see that happen in my lifetime.

If that happen, CNY will surely love just like JPY two decades ago. Even if the appreciation is slow, I believe it will value perhaps at least by 500 pips annually. I would be buying CNY when this occurs.

IMHO, China won't float CNY in such couple of years as its economy has just begun to boom. It tooks them years (60 or so) of preparation to reach present expansion.

China has more pressing problems to repay first, the leading prority being minimising poverty and illiteracy percentage. The legislative and financial systems also have yet to overthrow, to gain foreign investors' confidence. The china govt knows too well that they need these overseas investment but the question is the way to attract/retain them. The political scene may seem stable but the struggles are extremely dramatic and sometimes perplexing. The colleges and higher learning institutions have incorporated English as their mandatory Second language as instructed by the govt.

But with these preparations, its own mass geographical and population sizes, it is going to take years to reach its desired degree.

After staying in Shanghai for nearly two years and seeing what China is capable/incapable to do, wthout the abovementioned preparations being set up and in place, I personal do not think the China govt has the intent to float CNY nevertheless as its control is very complied and complex.

Only my two pips.

Thomas

Originally Posted by ;

quote into 7.5? Wow, that's a large drop! But I am out today, they are intervening the market!

Be patient. They will intervene now but go brief but you must wait. Currency may gain a bit these couple of days but the long term trend for this season remains down.

Here is my drama:
On margin you can exchange 200:1 with currencies

To prevent losses because the currency tanks utilize only $500 out of every $10,000 deposited for every trade so you are able to withstand a 10% currency transfer in the opposite direction that's pretty much impossible if you ask me together with the Yuan. $50K deposit with $2500 transaction allows you to exchange $500K and 5% depreciation on that is $25K that is 50% on your investment that's also not poor. If we are blessed this season we will observe a 10% depreciation that will signify you earn $50K on $50K bet and if not then $25K is great enough. I believe that the Chinese Yuan and HKD will come to being close or even to this season and if not this year then next year.

Yuan would have to go from around 6.60 to 6.0 in order that you lose all your cash which in my opinion is well worth the bet since the odds are pretty low this will happen. Economy isn't good in China r overseas. Exports are currency will depreciate in China.

Chinese Government simply issued a warning
https://us.yahoo.com/finance/news/ch...185255705.html