In view of Greg Gibbs, Analyst at Amplifying Global FX Capital, the cut in the Reserve Requirement Ratio (RRR) for Banks by the Chinese government was probably designed to cool fears over weaker growth and deleveraging, and shore up the flagging Chinese equity market. Key Quotes “However, the Chinese equity market fell sharply on Monday to revisit its lows last week and the Chinese currency depreciated by one of its largest one-day margins (over 0.5%), extending its relatively sharp slide over the last two weeks.” “The falls in Chinese assets spread across EM Asia, extending the regions relative weak currency and equity performance in recent weeks.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: the Euro is laddering up a trendline above 1.17 FX Street 3 years In view of Greg Gibbs, Analyst at Amplifying Global FX Capital, the cut in the Reserve Requirement Ratio (RRR) for Banks by the Chinese government was probably designed to cool fears over weaker growth and deleveraging, and shore up the flagging Chinese equity market. Key Quotes "However, the Chinese equity market fell sharply on Monday to revisit its lows last week and the Chinese currency depreciated by one of its largest one-day margins (over 0.5%), extending its relatively sharp slide over the last two weeks." "The falls in Chinese assets spread across EM Asia, extending the regions relative weak currency… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
