and oil negatively affecting markets worldwide. meantime china devalued their currency. chinese people to import and buy u.s. less likely in. we re going start pushing the yuan lower. that means all chinese products coming into the u.s. are much cheaper than u.s. products. as americans, we re going to want to find the value. when we go shopping, we re going to want to buy the cheaper item from china as opposed to an american-made product. this week will give us a better idea of just how much chinese economic problems are affecting our economy here at home. gdp numbers, durable good orders and home sales will be coming out this week. many experts expect the market volatility to continue at least shower or thunderstorm perhaps with the nasdaq and s&p 500
its best to soothe markets. the third straight day it guided the yuan lower. they described it as a one-time fix. since then, it has done it two more times. officials say they adjusted the yuan enough and they expect depreciation is quote largely finished. we have ana coren in hong kong with the latest. i can tell you the markets are pleased to hear that. what are the chinese saying? reporter: the chinese are saying we are allowing market forces to play a bigger role in helping to evaluate the yuan. this is something the united states and the international monetary fund has been pushing for years. wanting china to loosen the grip on the currency exchange rates. many analysts, christine, say this is an indication of china s economy is slowing and it is weaker than what official