According to analysts from TDS, last week interest rate cuts and the latest trade data from China suggests that any retracement in the USD/CNY will be limited and shortlived. Key Quotes: “We expect further RRR cuts in the months ahead consistent with easing across Asia. That said, the PBoC is likely to remain cautious towards a benchmark rate cut. In line with this, we remain focused on the CNY as the obvious avenue for China to ease its monetary conditions. The RRR cuts taken together with weak trade data are likely to mean that any retracement in USDCNY will be limited and shortlived.” “We continue to expect further pressure on CNY even as the PBoC continues to control the pace of the move. We expect a move to USDCNY 7.30 by end 2019 and maintain our long USDCNH position in our model portfolio.“ “We expect other Asian currencies to react to CNY depreciation as sensitivities to CNY gyrations have increased overall. Despite the weaker than expected exports outcome, markets will likely react favorably to the cut in RRR while continuing to pin their hopes on upcoming trade talks between the US and China in October.” 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/GBP: A buy before UK elections? – Nordea Markets FX Street 4 years According to analysts from TDS, last week interest rate cuts and the latest trade data from China suggests that any retracement in the USD/CNY will be limited and shortlived. Key Quotes: "We expect further RRR cuts in the months ahead consistent with easing across Asia. That said, the PBoC is likely to remain cautious towards a benchmark rate cut. In line with this, we remain focused on the CNY as the obvious avenue for China to ease its monetary conditions. The RRR cuts taken together with weak trade data are likely to mean that any retracement in USDCNY… Regulated 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.
