* The bulls are catching up to USDCNY
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
* Look Ahead: Commodities
* Global Data Highlights
USDCNY is the currency pairing that sparked a global flight from risky assets when the People's Bank of China (PBoC) unexpectedly devalued the yuan against the US dollar by the largest amount in one day for over two decades. The PBoC widened USDCNY's reference rate by 1.9% in mid-August in response to sustained upward pressure on the US dollar and threats to growth stemming from a weak exports sector in China. Since then USDCNY has retraced some of these gains after a brief stint above 6.4.
Looking at the US dollar side of the equation, upward pressure on the world's reserve currency has been easing lately as traders have discounted the possibility of tighter interest rates in the US this month. Turmoil in markets across the globe, fears of global deflation and a lack of inflation at home have cast doubt over the need for tighter monetary policy at this stage..... Full text »
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from FOREX.com's Weekly Strategy http://ift.tt/1d8RLLQ
09/04/2015 - The bulls are catching up to USDCNY
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