Gold dropped to RM253 per gram

This BSA is designed to enhance the financial stability of the two countries.

Enabling both central banks to provide both currencies liquidity to eligible financial institutions in support of their cross-border operations.

Enabling both central banks to provide Ringgit or Japanese Yen liquidity to eligible financial institutions in support of their cross-border operations.

KUALA LUMPUR (Sept 18): The Bank of Japan, acting as agent of the Minister of Finance of Japan, and Bank Negara Malaysia (BNM) have signed the second Bilateral Swap Arrangement (BSA) that provides up to US$3 billion for both countries.

This BSA enables both authorities to swap their local currencies (i.e. Japanese yen and Malaysian ringgit, respectively) for US dollar, BNM said in a statement today.

“The arrangement will provide up to US$3 billion for both countries,” it said.

KUALA LUMPUR (Sept 18): The Bank of Japan, acting as agent of the Minister of Finance of Japan, and Bank Negara Malaysia (BNM) have signed the second Bilateral Swap Arrangement (BSA) that provides up to US$3 billion for both countries.

This BSA enables both authorities to swap their local currencies (i.e. Japanese yen and Malaysian ringgit, respectively) for US dollar, BNM said in a statement today.

“The arrangement will provide up to US$3 billion for both countries,” it said.

KUALA LUMPUR (Sept 18): The Bank of Japan, acting as agent of the Minister of Finance of Japan, and Bank Negara Malaysia (BNM) have signed the second Bilateral Swap Arrangement (BSA) that provides up to US$3 billion for both countries.

This BSA enables both authorities to swap their local currencies (i.e. Japanese yen and Malaysian ringgit, respectively) for US dollar, BNM said in a statement today.

“The arrangement will provide up to US$3 billion for both countries,” it said.

For the first time this year, less than 50 percent of the trade between China and Russia was denominated in the U.S. dollar.

According to the Central Bank of Russia, in the first quarter of 2020, only 46 percent of the goods bought and sold by Russia and China used the dollar.

It's part of Beijing and Moscow's plan to become less dependent on the U.S. currency.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin set the goal in 2019 and quickly started implementing it.

The aim was underscored by both President Vladimir Putin and Foreign Minister Sergei Lavrov this month when Russia hosted the Shanghai Cooperation Organization's foreign ministers meeting.

For the first time this year, less than 50 percent of the trade between China and Russia was denominated in the U.S. dollar.

According to the Central Bank of Russia, in the first quarter of 2020, only 46 percent of the goods bought and sold by Russia and China used the dollar.

It's part of Beijing and Moscow's plan to become less dependent on the U.S. currency.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin set the goal in 2019 and quickly started implementing it.

The aim was underscored by both President Vladimir Putin and Foreign Minister Sergei Lavrov this month when Russia hosted the Shanghai Cooperation Organization's foreign ministers meeting.

For the first time this year, less than 50 percent of the trade between China and Russia was denominated in the U.S. dollar.

According to the Central Bank of Russia, in the first quarter of 2020, only 46 percent of the goods bought and sold by Russia and China used the dollar.

It's part of Beijing and Moscow's plan to become less dependent on the U.S. currency.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin set the goal in 2019 and quickly started implementing it.

The aim was underscored by both President Vladimir Putin and Foreign Minister Sergei Lavrov this month when Russia hosted the Shanghai Cooperation Organization's foreign ministers meeting.

https://www.forexlive.com/news/!/forexlive-nth-american-fx-news-17-sep-20200917

https://www.forexlive.com/news/!/forexlive-nth-american-fx-news-17-sep-20200917

The Nigerian government is now championing gold mining as it seeks to become less dependent on oil exports.

The Nigerian government is now championing gold mining as it seeks to become less dependent on oil exports.

Renminbi Gains Strength Against The U.S. Dollar
Sep. 16, 2020 5:50 AMUUP, UDN, CYB
Summary
The Chinese RMB has strengthened against the dollar in the region of 2.5% in the last four weeks.
The RMB moved from 6.951 to 6.770 per dollar - equating to a stronger RMB, or a weaker dollar.
The RMB is forecast to strengthen further, according to JPMorgan (as reported by the Financial Times).

Renminbi Gains Strength Against The U.S. Dollar
Sep. 16, 2020 5:50 AMUUP, UDN, CYB
Summary
The Chinese RMB has strengthened against the dollar in the region of 2.5% in the last four weeks.
The RMB moved from 6.951 to 6.770 per dollar - equating to a stronger RMB, or a weaker dollar.
The RMB is forecast to strengthen further, according to JPMorgan (as reported by the Financial Times).

Renminbi Gains Strength Against The U.S. Dollar
Sep. 16, 2020 5:50 AMUUP, UDN, CYB
Summary
The Chinese RMB has strengthened against the dollar in the region of 2.5% in the last four weeks.
The RMB moved from 6.951 to 6.770 per dollar - equating to a stronger RMB, or a weaker dollar.
The RMB is forecast to strengthen further, according to JPMorgan (as reported by the Financial Times).

China’s currency hits 16-month high on retail spending boost
China’s currency hit its highest level in more than a year as retail sales rose for the first time in 2020, underscoring the country’s economic recovery from the coronavirus pandemic.

The onshore-traded renminbi strengthened as much as 0.4 per cent to Rmb6.7857 per US dollar on Tuesday, its firmest level since May 2019. That coincided with official data that showed retail spending increased 0.5 per cent in August compared to a year ago. The less tightly regulated offshore-traded renminbi strengthened 0.3 per cent, past Rmb6.8 per dollar.

China’s currency hits 16-month high on retail spending boost
China’s currency hit its highest level in more than a year as retail sales rose for the first time in 2020, underscoring the country’s economic recovery from the coronavirus pandemic.

The onshore-traded renminbi strengthened as much as 0.4 per cent to Rmb6.7857 per US dollar on Tuesday, its firmest level since May 2019. That coincided with official data that showed retail spending increased 0.5 per cent in August compared to a year ago. The less tightly regulated offshore-traded renminbi strengthened 0.3 per cent, past Rmb6.8 per dollar.

China’s currency hits 16-month high on retail spending boost
China’s currency hit its highest level in more than a year as retail sales rose for the first time in 2020, underscoring the country’s economic recovery from the coronavirus pandemic.

The onshore-traded renminbi strengthened as much as 0.4 per cent to Rmb6.7857 per US dollar on Tuesday, its firmest level since May 2019. That coincided with official data that showed retail spending increased 0.5 per cent in August compared to a year ago. The less tightly regulated offshore-traded renminbi strengthened 0.3 per cent, past Rmb6.8 per dollar.

Luxembourg
Luxembourg strengthens status as offshore renminbi centre
Grand Duchy has become a preferred destination for funds investing into China

Luxembourg
Luxembourg strengthens status as offshore renminbi centre
Grand Duchy has become a preferred destination for funds investing into China

Luxembourg
Luxembourg strengthens status as offshore renminbi centre
Grand Duchy has become a preferred destination for funds investing into China

(Reuters) - An unprecedented spate of fierce, wind-driven wildfires in Oregon have all but destroyed five small towns, leaving a potentially high death toll in their wake, the governor said on Wednesday, as initial casualty reports began to surface.

Hundreds of miles away in northern California, three fatalities were confirmed on Wednesday from a lightning-sparked conflagration that raged with renewed intensity this week after firefighters had made significant headway containing it.

While more than two dozen major blazes continued to wreak havoc across wide swaths of California, the neighboring state of Oregon bore the latest brunt of wildfires plaguing much of the western United States over the past week.

(Reuters) - An unprecedented spate of fierce, wind-driven wildfires in Oregon have all but destroyed five small towns, leaving a potentially high death toll in their wake, the governor said on Wednesday, as initial casualty reports began to surface.

Hundreds of miles away in northern California, three fatalities were confirmed on Wednesday from a lightning-sparked conflagration that raged with renewed intensity this week after firefighters had made significant headway containing it.

While more than two dozen major blazes continued to wreak havoc across wide swaths of California, the neighboring state of Oregon bore the latest brunt of wildfires plaguing much of the western United States over the past week.

In Oregon, almost 100,000 homes and businesses were without power as crews battled large fires in Clackamas County, south of Portland.

Washington state was seeing 'unprecedented' fires, with 500 square miles burning on Monday alone.

In Northern California, helicopters have rescued hundreds of people stranded in the Sierra National Forest, where the Creek Fire was burning.

In Oregon, almost 100,000 homes and businesses were without power as crews battled large fires in Clackamas County, south of Portland.

Washington state was seeing 'unprecedented' fires, with 500 square miles burning on Monday alone.

In Northern California, helicopters have rescued hundreds of people stranded in the Sierra National Forest, where the Creek Fire was burning.

In Oregon, almost 100,000 homes and businesses were without power as crews battled large fires in Clackamas County, south of Portland.

Washington state was seeing 'unprecedented' fires, with 500 square miles burning on Monday alone.

In Northern California, helicopters have rescued hundreds of people stranded in the Sierra National Forest, where the Creek Fire was burning.

Moratorium end this month. Gold to the rescue

Moratorium end this month. Gold to the rescue

Moratorium end this month. Gold to the rescue

'High possibility’ BNM reduces OPR by 25bps to all-time low of 1.5% — TA Securities
Ong Kye Li
/
theedgemarkets.com

September 09, 2020 16:10 pm +08

'High possibility’ BNM reduces OPR by 25bps to all-time low of 1.5% — TA Securities
Ong Kye Li
/
theedgemarkets.com

September 09, 2020 16:10 pm +08

'High possibility’ BNM reduces OPR by 25bps to all-time low of 1.5% — TA Securities
Ong Kye Li
/
theedgemarkets.com

September 09, 2020 16:10 pm +08

FXStreetLATEST NEWS >>

Gold Price News and Forecast: XAU/USD fades pullback from 50-day EMA
September 09, 2020 03:16 GMT | By FXStreet Team
Gold Price News and Forecast: XAU/USD fades pullback from 50-day EMA
Gold Price Analysis: XAU/USD’s path of least resistance is down, $1913 back in sight – Confluence Detector
Following Tuesday’s two-way wild swings, Gold (XAU/USD) returns to the backseat, as the haven demand for the US dollar remains in vogue amid the risk-off action in the global stocks. The sentiment soured on rising US-Sino tensions, US fiscal deadlock and pessimism over the coronavirus vaccine. AstraZeneca COVID-19 vaccine trial was put on hold over safety concerns.

PETALING JAYA: Bank Negara Malaysia (BNM) will reduce its overnight policy rate (OPR) by a further 25 basis points (bps), say seven out of 13 economists polled by Reuters.

An announcement is expected following the central bank’s policy meeting on Thursday.

Such a move will also see the OPR reduced to a record low of 1.5%, with BNM having already delivered 125 bps of rate cuts this year. The last cut of 25 bps was announced on July 7.

PETALING JAYA: Bank Negara Malaysia (BNM) will reduce its overnight policy rate (OPR) by a further 25 basis points (bps), say seven out of 13 economists polled by Reuters.

An announcement is expected following the central bank’s policy meeting on Thursday.

Such a move will also see the OPR reduced to a record low of 1.5%, with BNM having already delivered 125 bps of rate cuts this year. The last cut of 25 bps was announced on July 7.

PETALING JAYA: Bank Negara Malaysia (BNM) will reduce its overnight policy rate (OPR) by a further 25 basis points (bps), say seven out of 13 economists polled by Reuters.

An announcement is expected following the central bank’s policy meeting on Thursday.

Such a move will also see the OPR reduced to a record low of 1.5%, with BNM having already delivered 125 bps of rate cuts this year. The last cut of 25 bps was announced on July 7.

Pound Sterling Tipped to Fall below 1.10 vs. Euro, 1.31 vs. Dollar this Month as Brexit Anxieties Bite
Written by Gary Howes on 08 September 2020

Latest GBP RateLatest £€ Data and Graphs
Long Term DataLong Term Data
Get Best DealGet Best Deal on Currency Payments
- EU and UK in war of words on Brexit
- GBP shrinks as anxieties grow
- But Macron/Johnson call confirms commitment towards a deal
- GBP forecast below 1.10 vs EUR by ING
- Could go below 1.31 vs. USD

Pound Sterling Tipped to Fall below 1.10 vs. Euro, 1.31 vs. Dollar this Month as Brexit Anxieties Bite
Written by Gary Howes on 08 September 2020

Latest GBP RateLatest £€ Data and Graphs
Long Term DataLong Term Data
Get Best DealGet Best Deal on Currency Payments
- EU and UK in war of words on Brexit
- GBP shrinks as anxieties grow
- But Macron/Johnson call confirms commitment towards a deal
- GBP forecast below 1.10 vs EUR by ING
- Could go below 1.31 vs. USD

London copper falls on US-China tension, stronger US dollar
Mai Nguyen
/
Reuters

September 08, 2020 16:41 pm +08

Chinese yuan to become No 3 global currency by 2030 after US dollar, euro, Morgan Stanley predicts
The yuan could account for up to 10 per cent of global foreign exchange reserve assets by 2030
Policy advisers in Beijing have presented a number of suggestions to reduce China’s reliance on the US dollar

Chinese yuan to become No 3 global currency by 2030 after US dollar, euro, Morgan Stanley predicts
The yuan could account for up to 10 per cent of global foreign exchange reserve assets by 2030
Policy advisers in Beijing have presented a number of suggestions to reduce China’s reliance on the US dollar

Chinese yuan to become No 3 global currency by 2030 after US dollar, euro, Morgan Stanley predicts
The yuan could account for up to 10 per cent of global foreign exchange reserve assets by 2030
Policy advisers in Beijing have presented a number of suggestions to reduce China’s reliance on the US dollar

China bond inclusion in WGBI may drive US$140b in inflows — Goldman Sachs

China bond inclusion in WGBI may drive US$140b in inflows — Goldman Sachs

Stimulus check: Eligibility, fine print, income limit and how the first payment could shape the next rescue package
A second $1,200 maximum check from the IRS may still happen, but some prominent questions still remain. The original CARES Act may offer clues as to what a second round of payments might look like.

Clifford Colby headshot
Clifford Colby
Sept. 7, 2020 2:15 p.m. PT

Angela Lang/CNET
Washington lawmakers are expected to pass either another coronavirus economic relief package or other legislation that could give Americans who qualify a second stimulus check up to $1,200 per person. If there's another direct payment, the first round can offer some clues about what could happen next.

Stimulus check: Eligibility, fine print, income limit and how the first payment could shape the next rescue package
A second $1,200 maximum check from the IRS may still happen, but some prominent questions still remain. The original CARES Act may offer clues as to what a second round of payments might look like.

Clifford Colby headshot
Clifford Colby
Sept. 7, 2020 2:15 p.m. PT


Angela Lang/CNET
Washington lawmakers are expected to pass either another coronavirus economic relief package or other legislation that could give Americans who qualify a second stimulus check up to $1,200 per person. If there's another direct payment, the first round can offer some clues about what could happen next.

Stimulus check: Eligibility, fine print, income limit and how the first payment could shape the next rescue package
A second $1,200 maximum check from the IRS may still happen, but some prominent questions still remain. The original CARES Act may offer clues as to what a second round of payments might look like.

Clifford Colby headshot
Clifford Colby
Sept. 7, 2020 2:15 p.m. PT

Angela Lang/CNET
Washington lawmakers are expected to pass either another coronavirus economic relief package or other legislation that could give Americans who qualify a second stimulus check up to $1,200 per person. If there's another direct payment, the first round can offer some clues about what could happen next.

BEIJING, Sept 8 — China has put its homegrown coronavirus vaccines on display for the first time, as the country where the contagion was discovered looks to shape the narrative surrounding the pandemic.

A Sinovac representative told AFP his firm has already “completed the construction of a vaccine factory” able to produce 300 million doses a year.

China's nationalistic tabloid Global Times reported last month that “the price of the vaccines will not be high.”

Every two doses should cost below 1,000 yuan (RM606), the report said, citing Sinopharm's chairman, who told media he has already been injected with one of the candidate vaccines.

China's official Xinhua news agency reported yesterday that another vaccine candidate, developed by Chinese military scientists, can deal with mutations in the coronavirus.

BEIJING, Sept 8 — China has put its homegrown coronavirus vaccines on display for the first time, as the country where the contagion was discovered looks to shape the narrative surrounding the pandemic.

A Sinovac representative told AFP his firm has already “completed the construction of a vaccine factory” able to produce 300 million doses a year.

China's nationalistic tabloid Global Times reported last month that “the price of the vaccines will not be high.”

Every two doses should cost below 1,000 yuan (RM606), the report said, citing Sinopharm's chairman, who told media he has already been injected with one of the candidate vaccines.

China's official Xinhua news agency reported yesterday that another vaccine candidate, developed by Chinese military scientists, can deal with mutations in the coronavirus.

BEIJING, Sept 8 — China has put its homegrown coronavirus vaccines on display for the first time, as the country where the contagion was discovered looks to shape the narrative surrounding the pandemic.

A Sinovac representative told AFP his firm has already “completed the construction of a vaccine factory” able to produce 300 million doses a year.

China's nationalistic tabloid Global Times reported last month that “the price of the vaccines will not be high.”

Every two doses should cost below 1,000 yuan (RM606), the report said, citing Sinopharm's chairman, who told media he has already been injected with one of the candidate vaccines.

China's official Xinhua news agency reported yesterday that another vaccine candidate, developed by Chinese military scientists, can deal with mutations in the coronavirus.