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Stronger CNY despite weaker data – Commerzbank

The post Stronger CNY despite weaker data Commerzbank appeared com. The People’s Bank of China set its USD/CNY fix at 7. 0825 this morning, signalling for the seventh straight week that it prefers a stronger CNY. Since the end of September, USD/CNY has fallen by a total of 0. 5% (stronger CNY). At first glance, this may not seem like much. However, it should also be noted that the trade-weighted US Dollar (USD) also gained around 1% over the same period. In other words, the CNY also appreciated against other trading partners during this period, and even slightly more so, Commerzbank’s FX analyst Volkmar Baur notes. PBoC supports firmer JPY as economy softens “At first glance, this is particularly surprising because it is happening during a period of economic weakness. After the September figures already looked less than robust last month, the data released this morning pointed not only to continued weakness, but also to a worsening of the situation. Industrial production did rise by 4. 9% year-on-year in October. However, this not only fell well short of the consensus expectations according to Bloomberg (5. 5%), but was also significantly below the previous month’s figure (6. 5%). All other data were no better and in some cases significantly weaker. While retail sales remained in positive territory at 2. 9%, the crisis in the property market continues and appears to be intensifying again.” “Property sales fell by around 20% year-on-year in October, with construction starts down by almost 30%. What is particularly striking, however, is that the weakness in investment is no longer limited to the property sector. Fixed asset investment, which had risen by over 4% in the first quarter of this year, has recently fallen significantly. The Chinese statistics office only publishes aggregate figures for the entire 10 months of this year. However, it can be estimated from these figures that investment in October alone.

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Why is the Crypto Market Down Today Amid the End of the U.S. Government?

The post Why is the Crypto Market Down Today Amid the End of the U. S. Government? appeared com. The post Why is the Crypto Market Down Today Amid the End of the U. S. Government? appeared first Bitcoin (BTC) led the wider altcoin market in heightened selling pressure. The total crypto market cap dropped by 2% to hover around $3. 42 trillion at press time. BTC price slipped below $102k again after the bullish momentum failed to gain traction. Main Reasons Why Crypto Dropped Today Low market demand amid notable fear of further crypto capitulation The overall capital inflow to the crypto market has significantly declined in the recent past, as shown by the spot Bitcoin and Ethereum ETFs. Notably, Bitcoin’s Open Interest (OI) across all crypto exchanges has dropped to a seven-month low. It appears that Hyperliquid bridge has stopped processing withdrawals. No activity in 21 minutes pic. twitter. com/NFSeVHhE1t Conor (@jconorgrogan) November 12, 2025 Technical headwinds amid sell-the-news impact due to the reopening of the U. S. government Bitcoin price has led the wider altcoin market in bearish sentiment as gold investors enjoy more gains. As the wider crypto market recorded bearish sentiment in the past 24 hours, the Gold price surged 2% to trade at about $4,200 per ounce at press time. The technical headwinds in the wider crypto market coincided with the reopening of the.

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Japan’s Top Banks Team Up to Test Stablecoin Backed by National Regulator

The Financial Services Agency (FSA) has approved a pilot program that brings together the country’s three biggest banks, Mizuho Bank, MUFG, and Sumitomo Mitsui Banking Corporation (SMBC), to test a jointly issued stablecoin. Digital assets meet tradfi in London at the fmls25Backed by Japan’s Payment RegulatorThe FSA confirmed on Friday that it will supervise the stablecoin trial as part of its newly launched Payment Innovation Project (PIP). The program aims to explore how multiple banking groups can issue and manage stablecoins classified as electronic payment instruments under Japanese law. The consortium behind the pilot includes Mitsubishi Corporation, Progmat Inc., and Mitsubishi UFJ Trust and Banking Corporation. Together, they will issue yen-based digital tokens and test their use across corporate and consumer payment systems. The project builds on MUFG’s existing Progmat platform, a blockchain network already used for tokenized securities and asset-backed products. By involving multiple institutions, the initiative seeks to determine whether Japan’s traditional banks can jointly operate a unified digital payment infrastructure-an approach that could significantly cut transaction times and costs. The stablecoin pilot aligns with broader efforts by Japan’s largest banks to reform the nation’s corporate settlement framework. Mizuho, MUFG, and SMBC collectively serve over 300, 000 business clients that still rely heavily on legacy clearing systems. Overhauling Corporate SettlementsThe trial will test whether stablecoins can streamline interbank transfers and cross-company payments without compromising security or regulatory compliance. The trial marks the first initiative under the FSA’s Payment Innovation Project, a dedicated effort operating within its long-running FinTech Proof-of-Concept Hub. Established in 2017, the hub has served as Japan’s primary testing ground for new financial technologies. Japan’s regulatory backing for this initiative reflects growing momentum in Asia’s race to modernize payment systems. As stablecoins gain traction in the U. S. and Europe, Japan’s decision to engage its largest banks in real-world testing underscores its intent to remain competitive in the digital finance landscape. With the FSA at the helm, the stablecoin pilot may become a key step toward a more efficient, transparent, and innovation-driven financial infrastructure-one where blockchain and traditional banking finally converge. This article was written by Jared Kirui at www. financemagnates. com.

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Xpeng to let other carmakers use its partly-autonomous driving system

The post Xpeng to let other carmakers use its partly-autonomous driving system appeared com. Chinese electric car company Xpeng announced on Nov. 5, 2025, it is releasing a new version of its driver-assist system. CNBC | Evelyn Cheng Guangzhou, CHINA Chinese electric car company Xpeng announced Wednesday that by the first quarter of 2026, it will start rolling out a new driver-assist system for navigating narrow roads. Xpeng claimed the new system enables cars to drive themselves smoothly through tight streets which it played up as better for the European market and significantly reduces the need for human intervention. The Chinese company said that German automaker Volkswagen will be its first client as Xpeng opens the system to other car makers. Speaking at the company’s “AI Day,” Xpeng CEO Xiaopeng He claimed the new driver-assist system which builds on Xpeng’s existing systems for assisting drivers with parking, driving on highways and navigating city roads required less human intervention than Tesla’s Full Self-Driving (FSD) system, and completed a test route several minutes quicker. “Next month I will go to the U. S. to compare [Xpeng’s latest system] to FSD again,” He said in Mandarin, translated by CNBC. The new model is also able to respond to traffic controllers’ hand gestures, as well as to traffic light countdowns from red to green, the company said. Tesla has struggled to get Beijing’s approval to roll out FSD in mainland China. Xpeng started releasing its driver-assist tech in major Chinese cities in early 2023, and the systems have rapidly become a must-have feature for Chinese companies wanting to survive in the highly competitive domestic market. Just as Tesla has expanded this year into robotaxis, Xpeng on Wednesday announced plans to launch three robotaxi models next year and start testing in Guangzhou. Source:.

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Trump Tariffs in Focus as U.S. and China Hold Key Trade Discussions

TLDR The United States and China have initiated trade talks to ease Trump tariffs ahead of the October 30 summit. Chinese Vice-Premier He Lifeng and U. S. Treasury Secretary Scott Bessent are leading the discussions in Kuala Lumpur. The focus of the talks includes addressing critical trade and economic issues impacting both nations. Trade experts anticipate [.] The post Trump Tariffs in Focus as U. S. and China Hold Key Trade Discussions appeared first on CoinCentral.

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