USD/CNH: Encouraging signs from China’s economy may spark deeper reversal
The Chinese yuan looks set for its largest gain against the US dollar since March, propelled higher a triple-whammy of factors.
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AUD/USD, USD/CNH whipsawed as PBOC cuts rates
USD/CNH rallies as the PBOC unexpectedly cuts wholesale interest rates. AUD/USD gains on stimulus hopes.
The Chinese yuan and the Hang Seng are in freefall
Whilst the yuan has continued to decline against the US dollar, its weakness can be noted against several currencies as China let’s their currency slide.
The Chinese yuan and the Hang Seng are in freefall
Whilst the yuan has continued to decline against the US dollar, its weakness can be noted against several currencies as China let’s their currency slide.
JOLTS job openings - an employment miss (not to be missed)
Rate hikes are really beginning to take a bite out of the US employment numbers, with job openings falling at their fastest pace since the pandemic.
JOLTS job openings - an employment miss (not to be missed)
Rate hikes are really beginning to take a bite out of the US employment numbers, with job openings falling at their fastest pace since the pandemic.
The yuan hits a 14-year low and sends USD/CNH above 7.2000
Another day, another big level gives way for global markets. And that has seen the yuan weaken to 7.2 against the US dollar, a level not seen since 2008.
USD/CNH closed above 7.000 for first time in 26-months
Despite attempts to stabilise the yuan, USD/CNH has reached 7.000 as policies between the Fed and PBOC continue to widen.
Bitcoin bears load up above a key support level – JPY and CNH in focus
Using bitcoin futures we can see that Bitcoin traders aggressively went short just above the year to date low. Now we wait to see if it breaks…
China’s PMI’s continue to underperform, USD/CNH bulls eye 7.00
The National Bureau of Statistics of China (NBS) released PMI data for China, and is another data set which underperforms relative to expectations.
Investors hope for more stimulus following weak China growth (A50, CNH)
Fundamentals point to further weakness for the Chinese economy, and that has been another headwind for the China A50 index. It also builds a case for a weaker yuan.
Is USD/CNH set for a multi-month rally?
If current (and expected) yield differentials are anything to go by, the yuan looks quite overvalued. Especially in the context of ongoing growth concerns and geopolitical risks.
China A50 and USD/CNH in focus for tomorrow’s CPI data
It is a big week for inflation enthusiasts, with CPI data for December released from China and the US.
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