USDCNH

Daily Market Comment – Yen skids on upbeat China data even as trade deal faces delay

Posted on December 2, 2019 at 9:16 am GMT

Markets in risk-on mood on better-than-expected Chinese manufacturing PMIs Still plenty of caution though, as US and China struggle to conclude ‘phase one’ deal Pound slips as Tories’ poll lead narrows further Oil bounces back after Iraq says deeper cuts to be discussed at OPEC+ meeting Sentiment lifted by rebound in Chinese factory activity December got off to a positive start after data over the weekend and on Monday showed manufacturing output in China unexpectedly rose in November. China’s official [..]

Daily Market Comment – Stocks rally on rising trade deal hopes; yuan hits 3-month high

Posted on November 5, 2019 at 9:03 am GMT

Growing optimism that a partial trade deal between the US and China is within reach boosts risk assets Yen and Swiss franc extend losses, yuan climbs to highest in three months Aussie edges up after RBA keeps rates steady; dollar eyes ISM non-manufacturing PMI US may roll back some China tariffs Optimism around a ‘phase one’ US-China trade deal continued to boost risk appetite on Tuesday, lifting stocks and other risk assets, while dampening demand for safe havens such as [..]

Daily Market Comment – Sterling crashes as UK’s Johnson tries to thwart bid to stop no-deal Brexit

Posted on September 3, 2019 at 8:16 am GMT

Pound dips below $1.20 as PM Johnson threatens to call an election if MPs try to block a no-deal Brexit Chinese yuan extends slide as US-China trade talks in doubt Aussie bounces back after RBA decision; GDP eyed next UK MPs fight to stop no-deal Brexit British lawmakers will today vote on whether to take control of the Parliamentary agenda in order to force a vote on Wednesday on extending the Brexit date beyond the October 31 deadline by three [..]

Daily Market Comment – Powell speech awaited as Fed hawks come out; pound jumps on Brexit hopes

Posted on August 23, 2019 at 8:12 am GMT

Markets await Powell’s Jackson Hole speech amid signs of resistance to further rate cuts US dollar holds firm as Treasury yields extend rebound; gold drifts lower Pound swings higher after Merkel and Macron boost Johnson’s chances of backstop changes All eyes on Jackson Hole Traders’ focus will centre on Fed Chairman Jerome Powell today when he makes his key address at the Jackson Hole Economic Symposium at 14:00 GMT. Speculation as to how dovish Powell’s speech will be have intensified [..]

Daily Market Comment – Yen firms again as trade jitters return; euro and pound steady despite election talk

Posted on August 9, 2019 at 8:11 am GMT

Risk aversion spikes again on reports US won’t ease Huawei restrictions Safe havens remain supported, stocks falter Euro and pound unmoved by speculation of snap elections in Italy and the UK Bounce in risk appetite proves short lived as trade worries return Market sentiment turned sour again on Friday as trade tensions resurfaced after Bloomberg reported that the United States is delaying a decision on whether to allow some American companies to do business with China’s Huawei Technologies. President Trump [..]

Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

Posted on August 8, 2019 at 8:23 am GMT

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:18 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:25 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies    The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]

China’s export data to shed light on trade war damage – Forex News Preview

Posted on July 10, 2019 at 9:06 am GMT

Trade figures from the world’s second-largest economy will be released early on Friday, with forecasts pointing to a modest contraction in both exports and imports. Markets will scrutinize exports in particular, for any signs of damage from the recent escalation in the trade war. Besides the yuan, the China-sensitive aussie could also react to these data. The trade ‘ceasefire’ between the US and China that was agreed in late June was greeted with relief in the markets, as it at [..]

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Technical Analysis – USDCNH strictly capped below moving averages

Posted on June 27, 2019 at 12:54 pm GMT

USDCNH had a bearish start on Thursday, with the price remaining below a crucial support of the 6.9000 barrier and the 40-day simple moving average (SMA). From the technical point of view, the RSI is heading down in bearish territory, while the MACD also supports a bearish picture, since it continues to hold near the zero line and below the trigger line. Should prices drop below the 6.8300 low, they could hit the 23.6% Fibonacci retracement level of the upward movement from 6.2350 to 6.9781, near [..]

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