Chinese Yuan: USD/CNY (CNY=X) central bank raised the yuan midpoint rate

Chinese Yuan: USD/CNY (CNY=X) central bank raised the yuan midpoint rate

Chinese Yuan: USD/CNY (CNY=X) central bank raised the yuan midpoint rate The dollar traded slightly higher on Monday and hovered near two-month highs on a stronger-than-expected third-quarter GDP report. The U.S. dollar index that tracks the greenback against a basket of other currencies was up 0.08% to 96.24 by 12:08 AM ET (04:08 GMT). The […]

Chinese Yuan: USD/CNY (CNY=X) trade war remains key focus

Chinese Yuan: USD/CNY (CNY=X) trade war remains key focus

Chinese Yuan: USD/CNY (CNY=X) trade war remains key focus China’s yuan was little changed against the dollar on Thursday as market participants squared positions ahead of a long holiday weekend and remained cautious about developments in the Sino-U.S. trade war. The dollar hovered near a seven-week low against a basket of major currencies as trade […]

Chinese Yuan: USD/CNY (CNY=X) prices offering no clear cut signal

Chinese Yuan: USD/CNY (CNY=X) prices offering no clear cut signal

Chinese Yuan: USD/CNY (CNY=X) prices offering no clear cut signal Chinese premier Li Keqiang has trumpeted the benefits of global trade, in a speech at the World Economic Forum today in Tianjin, China. And as trade tensions with the US heat up, Li said Chinese policy makers have plenty of tools at their disposal to […]

Chinese Yuan: USD/CNY (CNY=X) remains bullish for the moment

Chinese Yuan: USD/CNY (CNY=X) remains bullish for the moment

Chinese Yuan: USD/CNY (CNY=X) remains bullish for the moment A sustained close above 6.8205 marks will test key resistances at 6.8388, 6.8548 and 6.8705 marks respectively. Alternatively, a daily close below 6.8205 will drag the parity down towards key supports at 6.7864, 6.7658, 6.7373, 6.7160, 6.7005, 6.6715, 6.6518 and 6.6340 marks respectively. Important to note […]

China Yuan: USD/CNY (CNY=X) currency headed for its fourth straight month of weakening

China Yuan: USD/CNY (CNY=X) currency headed for its fourth straight month of weakening

China Yuan: USD/CNY (CNY=X) currency headed for its fourth straight month of weakenin China July 2018 NBS manufacturing PMI decrease to 51.2 (previous 51.5).  China July 2018 NBS non – manufacturing PMI decrease to 54 (previous 55). Take a long position on USD/CNY  around 6.8220, stop loss 6.8100 and target of 6.8548. Overall, the bias […]

China Yuan: USD/CNY (CNY=X) dropping as the trade war with the US escalates

China Yuan: USD/CNY (CNY=X) dropping as the trade war with the US escalates

China Yuan: USD/CNY (CNY=X) dropping as the trade war with the US escalates There are no significant domestic developments today. As a result, traders are watching Chinese financial markets for cues. While the People’s Bank of China initially weakened the USD/CNY exchange rate earlier today (as part of its daily fixing), the currency has since […]

China Yuan: USD/CNY (CNY=X) inched up slightly

China Yuan: USD/CNY (CNY=X) inched up slightly

China Yuan: USD/CNY (CNY=X) inched up slightly USD/CNY is currently trading around 6.7916 marks. It made intraday high at 6.8048 and low at 6.7880 levels. Intraday bias remains neutral for the moment. The sell-off in the Chinese Yuan continued on Monday as the reversal seen on Friday was largely erased and USD/CNY continued its ascent […]

Chinese Yuan: USD/CNY (CNY=X) Came to an End of a 6 Week Slide

Chinese Yuan: USD/CNY (CNY=X) Came to an End of a 6 Week Slide

Chinese Yuan: USD/CNY (CNY=X) Came to an End of a 6 Week Slide The Thai baht and Singapore dollar hit one-year lows. The Malaysian ringgit hit its lowest level in the past seven months. The Indonesian rupiah and Philippines peso hit multi-year lows. Interestingly, the Chinese yuan breached its CNY 6.70/USD psychological level last week […]

Chinese Yuan: USD/CNY (CNY=X) Focus On Chinese Yuan Now

Chinese Yuan: USD/CNY (CNY=X) Focus On Chinese Yuan Now

Chinese Yuan: USD/CNY (CNY=X) Focus On Chinese Yuan Now Near-term dollar weakness is being confirmed by USD/CNH returning to a lower trading range. This dynamic is being supported by China equities which started the week on a positive note, partly on relief that Donald Trump didn’t further escalate the tit-for-tat with China. In the short-term, […]

USD/CNY (CNY=X) Yuan steadies after Chinese central bank moves

USD/CNY (CNY=X) Yuan steadies after Chinese central bank moves

USD/CNY (CNY=X) Yuan steadies after Chinese central bank moves Today’s chart shows the USDCNY exchange rate against the monetary policy interest rate differential for China (People’s Bank of China) and the USA (US Federal Reserve). The key point with this chart is that policy rate differentials point to a weakening CNY relative to USD. Indeed, […]

USD/CNY (CNY=X) Surprising Rate Decision

USD/CNY (CNY=X) Surprising Rate Decision

USD/CNY (CNY=X) Surprising Rate Decision The unexpected move by the People’s Bank of China to maintain borrowing costs is a sign of confidence the yuan can withstand selling pressure, according to analysts. The PBOC on Thursday kept yuan funding costs on hold even after its U.S. counterpart pushed dollar rates higher and forecast a faster […]

USD/CNY (CNY=X) China’s new yuan loans shrink, M2 growth unchanged

USD/CNY (CNY=X) China’s new yuan loans shrink, M2 growth unchanged

USD/CNY (CNY=X) China’s new yuan loans shrink, M2 growth unchanged Chinese banks extended 1.15 trillion yuan (about 179.7 billion U.S. dollars) in new yuan-denominated loans in May, edging down from 1.18 trillion yuan in April, central bank data showed Tuesday. The figure was 40.5 billion yuan more than the same period last year, the People’s […]

USD/CNY (CNY=X) Currency Forecast and Technical Analysis

USD/CNY (CNY=X) Currency Forecast and Technical Analysis

USD/CNY (CNY=X) Currency Forecast and Technical Analysis Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.36. The projected lower bound is: 6.25. The projected closing price is: 6.30. Candlesticks During the past 10 bars, there have been 5 white candles and […]

USD/CNY (CNY=X) Heffx Technical Analysis

USD/CNY (CNY=X) Heffx Technical Analysis

USD/CNY (CNY=X) Heffx Technical Analysis Overall, the bias in prices is: Downwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 6.34. The projected lower bound is: 6.23. The projected closing price is: 6.29. Candlesticks A white body occurred (because prices closed higher than they opened). During the past […]

USD/CNY (CNY=X) Technicals Oversold

USD/CNY (CNY=X) Technicals Oversold

USD/CNY (CNY=X) Technicals Oversold Overall, the bias in prices is: Downwards. Short term: Prices are moving. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.53. The projected upper bound is: 6.44. The projected lower bound is: 6.36. The projected closing price is: 6.40. Candlesticks A black body occurred […]

USD/CNY (CNY=X) Bullish Divergence

USD/CNY (CNY=X) Bullish Divergence

USD/CNY (CNY=X) Bullish Divergence Overall, the bias in prices is: Downwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. By the way, prices are vulnerable to a correction towards 6.57. The projected upper bound is: 6.50. The projected lower bound is: 6.42. The projected closing price is: 6.46. Candlesticks A big black candle […]