“Recent negative growth surprises and the proximity of 7.00 in USDCNY have focused the market back on China,” notes Sacha Tihanyi, Deputy Head of Emerging Markets Strategy at TD Securities. Key quotes “We expect further growth deterioration, as monetary and fiscal policy responses have incremented in urgency over the past two months.” “We see negative data surprises, particularly in trade data, as a catalyst for further sharp CNY weakness via stoking expectations for nominal and real effective CNY easing.” “We continue to see 7.10 in USDCNY by year-end, and weakness into the new year for the renminbi, as the PBoC manages the pace of depreciation, but defends no level outright.” 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 Technical Analysis: Euro bulls challenging the 0.8900 figure FX Street 4 years "Recent negative growth surprises and the proximity of 7.00 in USDCNY have focused the market back on China," notes Sacha Tihanyi, Deputy Head of Emerging Markets Strategy at TD Securities. Key quotes "We expect further growth deterioration, as monetary and fiscal policy responses have incremented in urgency over the past two months." "We see negative data surprises, particularly in trade data, as a catalyst for further sharp CNY weakness via stoking expectations for nominal and real effective CNY easing." "We continue to see 7.10 in USDCNY by year-end, and weakness into the new year for the renminbi, as the PBoC… 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.
