Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED

(708)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China Evergrande New Energy Vehicle : Dollar dips, while sterling, NZ dollar gain

10/19/2021 | 03:36pm EST
FILE PHOTO: FILE PHOTO: Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration

NEW YORK (Reuters) - The dollar pared losses on Tuesday as Treasury yields climbed but remained lower on the day as other currencies, including sterling, were boosted by expectations of sooner-than-previously expected interest rate hikes.

The greenback reached a one-year high against a basket of other currencies last week as Treasury yields surged and as investors bet the Federal Reserve may need to increase rates to address stubbornly high inflation.

Yields appeared to stabilize on Tuesday, before grinding higher again, with benchmark 10-year yields reaching more than three-month highs.

The dollar's move lower on Tuesday was likely exaggerated by technical factors as investors unloaded long positions.

"The movement in rates hardly explains the extent of the USD drop," analysts at Scotiabank said in a report. "Rather, it seems USD long liquidation has snowballed into a broader clear out of positioning, triggering a technical reversal in the USD generally," they said.

The dollar also dipped after data showed that U.S. homebuilding unexpectedly fell in September and permits dropped to a one-year low amid acute shortages of raw materials and labor, supporting expectations that economic growth slowed sharply in the third quarter.

Richmond Fed President Thomas Barkin said on Tuesday that U.S. labor shortages may outlast the coronavirus pandemic and limit overall economic growth unless the country comes up with better education, health and childcare policies to boost the number of people willing and able to work.

The dollar index against a basket of other currencies was last down 0.22% on the day at 93.73, after earlier dropping to 93.50, the lowest since Sept. 28.

The euro gained 0.25% to $1.1640.

Currencies, including sterling and the New Zealand dollar, are benefiting from rising interest rate increase expectations.

The British pound rose 0.51% to $1.3798 as money markets priced in a cumulative 35 basis points in rate hikes by the end of the year.

New Zealand's dollar jumped 1.14% to $0.7159 after data on Monday showed the fastest consumer-price inflation in more than a decade.

It earlier rose to $0.7172, the highest since June 11.

Britain and New Zealand have led a rise in short-term bond yields, with short-dated yields climbing comparatively more than in the United States.

The Aussie rose to $0.7485, the highest since July 15, shrugging off dovish minutes from the Reserve Bank of Australia's last meeting.

The yuan hit a four-month high as fears about contagion from property giant China Evergrande's debt troubles receded and some of its peers made bond coupon payments. Policymakers said late last week the situation was controllable.

The offshore yuan strengthened to as much as 6.3674 per dollar, the strongest since June 1.

Bitcoin rose to $63,789 as the first U.S. bitcoin futures-based exchange-traded fund began trading, the highest since April when it set a record high of $64,895.

========================================================

Currency bid prices at 3:00PM (1900 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Dollar index 93.7260 93.9360 -0.22% 4.162% +93.9360 +93.5010

Euro/Dollar $1.1640 $1.1611 +0.25% -4.73% +$1.1670 +$1.1609

Dollar/Yen 114.2900 114.3100 -0.03% +10.63% +114.3500 +113.9150

Euro/Yen 133.04 132.71 +0.25% +4.82% +133.1800 +132.6300

Dollar/Swiss 0.9225 0.9239 -0.14% +4.28% +0.9239 +0.9185

Sterling/Dollar $1.3798 $1.3728 +0.51% +1.00% +$1.3833 +$1.3725

Dollar/Canadian 1.2358 1.2377 -0.15% -2.94% +1.2382 +1.2312

Aussie/Dollar $0.7479 $0.7413 +0.90% -2.78% +$0.7485 +$0.7408

Euro/Swiss 1.0738 1.0723 +0.14% -0.64% +1.0740 +1.0711

Euro/Sterling 0.8433 0.8456 -0.27% -5.64% +0.8463 +0.8424

NZ $0.7159 $0.7085 +1.14% -0.22% +$0.7172 +$0.7085

Dollar/Dollar

Dollar/Norway 8.3500 8.4230 -0.87% -2.77% +8.4185 +8.3325

Euro/Norway 9.7206 9.7739 -0.55% -7.13% +9.7830 +9.7103

Dollar/Sweden 8.6178 8.6471 -0.26% +5.14% +8.6641 +8.5883

Euro/Sweden 10.0321 10.0581 -0.26% -0.44% +10.0619 +10.0158

(Reporting by Karen Brettell; Additional reporting by Sujata Rao in London; Editing by Steve Orlofsky and Andrea Ricci)

By Karen Brettell


ę Reuters 2021
All news about CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
11/29MarketScreener's World Press Review - November 29, 2021
11/28Evergrande shares fall after chairman cuts stake; Fantasia suspends trading
RE
11/28Evergrande NEV Returns Undeveloped Land to Government for $201 Million
MT
11/26China Evergrande New Energy Vehicle Says in Talks to Dispose Some of Elderly Care Valle..
CI
11/25Hong Kong shares rise as Alibaba, Tencent rebound
RE
11/22Shares of China Evergrande's EV unit rise after $347 million share sale plan
RE
11/21Evergrande NEV Targets $347 Million From Share Sale
MT
11/19China Evergrande EV unit to raise $347 million from share sale to fund production
RE
11/19China Evergrande resumes construction on 63 projects in Pearl River delta
RE
11/11Evergrande NEV Sells Dutch Electric Drivetrain Unit e-Traction For Up to $2.3 Million
MT
More news
Analyst Recommendations on CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
More recommendations
Financials
Sales 2020 15 487 M 2 430 M 2 430 M
Net income 2020 -7 394 M -1 160 M -1 160 M
Net Debt 2020 62 534 M 9 812 M 9 812 M
P/E ratio 2020 -35,5x
Yield 2020 -
Capitalization 30 786 M 4 819 M 4 831 M
EV / Sales 2019 20,0x
EV / Sales 2020 18,5x
Nbr of Employees 14 493
Free-Float 26,5%
Chart CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
Duration : Period :
China Evergrande New Energy Vehicle Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Managers and Directors
Da Rong Pan Chief Financial Officer
Shawn Siu Chairman
Shing Yim Chau Independent Non-Executive Director
Jian Wen Guo Independent Non-Executive Director
Wu Xie Independent Non-Executive Director