The yuan was flat on Wednesday after China reported a mixed economic report card for October. The dollar was unchanged as traders awaited Federal Reserve chairman Jerome Powell\u2019s speech later in the day.<\/p>\n
The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair was down 0.08% to 6.9514 by 1:00 AM ET (06:00 GMT).<\/p>\n China\u2019s October industrial output and third-quarter investment grew faster than expected, but retail sales missed expectations, the National Bureau of Statistics (NBS) reported on Wednesday.<\/p>\n Industrial output<\/a><\/span>\u00a0<\/span>jumped 5.9% in October, outperforming previous expectations of a 5.7% growth, the NBS said.<\/p>\n Meanwhile,\u00a0<\/span>Fixed-asset investment<\/a><\/span>\u00a0<\/span>growth came in at 5.7% in the January-October period, again beating analysts\u2019 estimates of a 5.5% growth.<\/p>\n Private-sector fixed-asset investment rose 8.8% in January-October, compared with an increase of 8.7% in the first three quarters.<\/p>\n Private investment accounts for about 60% of overall investment in China.<\/p>\n Retail sales<\/a><\/span>, on the other hand, rose 8.6% year-on-year in October. Markets expected sales to rise by 9.1%.<\/p>\n The People’s Bank of China (PBOC) set the yuan reference rate at 6.9402 vs the previous day’s fix of 6.9629.<\/p>\n The\u00a0<\/span>U.S. dollar index<\/a><\/span>\u00a0<\/span>that tracks the greenback against a basket of other currencies was unchanged at 96.98.<\/p>\n Federal Reserve chairman Jerome Powell will speak later in the day, reports citing analysts said Powell might attempt to calm concerns about the Fed hiking rates too fast.<\/p>\n The\u00a0<\/span>EUR\/USD<\/a><\/span>\u00a0<\/span>pair slipped 0.04%, and the\u00a0<\/span>GBP\/USD<\/a><\/span>\u00a0<\/span>pair inched up 0.07%. U.K. Prime Minister Theresa May will present a draft text of a Brexit withdrawal agreement to her senior ministers on Wednesday after both the UK and EU reached consensus on the Brexit divorce deal.<\/p>\n The divorce deal, however, is widely expected to meet opposition in the UK parliament.<\/p>\n “The problem is it has to come to parliament, and all we know about the views of different people across the political spectrum is a deal of this kind is not going to get through,” Liberal Democrat leader Vince Cable told the BBC on Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":" The yuan was flat on Wednesday after China reported a mixed economic report card for October. The dollar was unchanged as traders awaited Federal Reserve chairman Jerome Powell\u2019s speech later in the day. The\u00a0USD\/CNY\u00a0pair was down 0.08% to 6.9514 by 1:00 AM ET (06:00 GMT). China\u2019s October industrial output and Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-1088","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1088"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1088\/revisions"}],"predecessor-version":[{"id":1089,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1088\/revisions\/1089"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}