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Is the “Petro-Yuan” a Credible Challenge to Dollar Supremacy?

Is the “Petro-Yuan” a Credible Challenge to Dollar Supremacy? Wolf Richter with Jim Goddard on This Week in Money: China latest effort to get its currency to be used globally is the “petro-yuan.” Is it a credible challenge to the supremacy of the US dollar? If China dumped US Treasuries, what would that accomplish? And […]

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As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves

As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves Just days after China’s (denied) threat to slow/stop buying US Treasuries, and just days before the launch of China’s petro-yuan futures contract, Germany’s central bank confirmed it would include China’s Renminbi in its reserves. The FT reports that Andreas Dombret, a member of Deutsche Bundesbank’s executive […]

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Iran Sanctions Will Help China’s Petro-Yuan

Iran Sanctions Will Help China’s Petro-Yuan In a few days, U.S. President Trump may try to re-impose sanctions on Iran, a dramatic step that could heighten tensions between the two countries. Some analysts believe the move could contribute to a much broader global economic power shift from the U.S. to China. The connection between the […]

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Petro-Yuan Looms – How China Will Shake Up The Oil Futures Market

Petro-Yuan Looms – How China Will Shake Up The Oil Futures Market The “huge story”,as Graticule’s Adam Levinson called it, will, it appears, be a “wake up call” for the West that seems to happily be ignoring this potential bombshell that is China’s looming launch of domestic oil futures trading. Additionally, Levison warns Washington that […]

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Yuan-Priced Crude Futures Could Arrive Before Christmas

Yuan-Priced Crude Futures Could Arrive Before Christmas After years of setbacks and delays, China may be days away from launching a yuan-priced crude oil futures contract to make its currency more international and challenge the dominance of the petrodollar. Many Chinese investors eagerly anticipate the start of yuan oil futures trading on the Shanghai International […]

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China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading

China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading Amid all the chatter of Venezuela and Russia potentially creating oil-backed cryptocurrencies, the “huge news” of China’s launch of the Petro-Yuan has fallen off the front page… until now. This week saw the Shanghai Futures Exchange complete its fifth yuan-back oil futures contract trading […]

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