Researchers at UOB Group noted the Chinese Yuan could keep grinding lower to the 7.0 area vs. the greenback. Key Quotes “In the past week, Chinese authorities has announced various measures to support economic growth amid the ongoing trade spat with the U.S and deleveraging of its financial system”. “The measures range from easing of credit conditions (18-Jul), a softer-than-expected stance towards wealth management products (20-Jul), a record injection of longer-term funding available to commercial lenders and fiscal stimulus (23-Jul, see report here)”. “These measures add to signs that the PBoC is adopting a more accommodative stance, even though it has not announced any official shift from its “prudent and neutral” policy”. “Overall, looser monetary conditions are likely to bias towards a weaker CNY. As such, we forecast USD/CNY rising further to 6.95 by end of this year and 7.10 by mid-2019″. 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 NZD/USD Review: Flirts with weekly lows, just above mid-0.6700s ahead of US GDP FX Street 5 years Researchers at UOB Group noted the Chinese Yuan could keep grinding lower to the 7.0 area vs. the greenback. Key Quotes "In the past week, Chinese authorities has announced various measures to support economic growth amid the ongoing trade spat with the U.S and deleveraging of its financial system". "The measures range from easing of credit conditions (18-Jul), a softer-than-expected stance towards wealth management products (20-Jul), a record injection of longer-term funding available to commercial lenders and fiscal stimulus (23-Jul, see report here)". "These measures add to signs that the PBoC is adopting a more accommodative stance, even though it… 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.
