Tuesday during early deals, the Chinese Yuan dropped against its US and European counterparts.
Tuesday in Asia, the Chinese Yuan declined against the currency of US. At about 11:05 pm ET, the Yuan hit as low as 6.8417 against the buck by about 6.8417, which may be compared to Monday's closing value of 6.8376. On the downside, the Chinese currency may likely target the 6.843 level against the dollar.
People's Bank of China has set today's central parity rate for dollar-Yuan pair at 6.8359. The pair is allowed to move 5% above or below the target rate.
Across the Atlantic, the US consumer confidence report, Chicago's PMI, S&P/Case-Shiller home price index are scheduled for release in the New York session.
The Chinese Yuan edged down against the euro during Tuesday's early deals, falling to 9.0786. This may be compared to Monday's New York session closing value of 9.0209. If the Chinese currency drops further, 9.28 is seen as the next likely target level.
People's Bank of China has set today's central parity rate for euro-Yuan pair at 9.0323.
During the European session, French housing starts, Italian CPI and retail sales and euro-zone March CPI estimate are scheduled for release.
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