UOB Group’s FX strategists see USD / CNH shift focus to the near term 6.4920 level. Key quotes 24 hour view: “Our expectation for the USD to ‘move to 6.4800 first before easing’ did not materialize, trading between 6.4426 and 6.4680 before the close , little change. The current move is considered part of a..
Continue reading…
USD / CNH now target 6.4920 – UOB
Posted on Leave a comment
Risk of reflation, Sino-American chatters face the bulls
Posted on Leave a comment
Asian stocks are making cautious moves as global yields continue to rally, hints at US-China relations. Fitch kept Australia at “AAA”, S&P raised New Zealand to “AA +”. Vaccine optimism continues, virus count recedes to support unlock news. Asia-Pacific stocks are struggling to track S&P 500 futures south as rising global Treasury yields renew inflation..
Continue reading…
AUD / USD Refreshes Multi-Month High As Bulls Fight 0.7900 In Market Bullishness
Posted on Leave a comment
AUD / USD hits its new high since March 2018. Fitch keeps Australia’s credit rating unchanged despite negative outlook. Chinese Wang Yi is pushing for closer trade and political cooperation with the United States. Virus and vaccine optimism are also helping the S&P 500 Futures break a losing four-day streak. AUD / USD refreshes the..
Continue reading…
Potential rebound to 6.4500? – UOB
Posted on
UOB Group’s FX strategists noted USD / CNH could rebound from recent lows and re-test the 6.4500 area in the coming weeks. Key quotes 24 hour view: “We pointed out yesterday that the USD” may drop below 6.4000 but the prospect of an extension to 6.3900 is not high “. However, the USD rebounded strongly..
Continue reading…
Recently consolidates gains amid holiday in China, vaccine optimism / stimulus
Posted on
Asian stocks trickle down as vaccines, stimulus optimism fades on a calm day. RBA Kent, Japan Trade figures fail to entertain the markets. US President Biden, UK Covid Task Force Unveils Jab Planning and Flaunts Resources. Japan to expand virus emergency, Australia is also releasing good news related to covid. Stocks in Asia-Pacific thwart the..
Continue reading…
ByteDance denies during preliminary discussions to list TikTok on NYSE – Global Times
Posted on
TikTok’s parent company ByteDance has refuted reports it is in preliminary talks to list the video app on the New York Stock Exchange (NYSE), influential Chinese newspaper Global Times reported on Wednesday. The outlet said, “ByteDance responded on Wednesday that previous media reports that the company was in preliminary talks to list TikTok in New..
Continue reading…
Copper bulls applaud risk mood and supply / demand imbalance to probe May 2012 high
Posted on
Amid a rally in commodities, Copper’s benchmark London Metal Exchange (LME) contract rises for the third day in a row while adding 0.50% intraday to around $ 8,440, to probe the peak of May 2012 . Reuters cites optimism about a global economic recovery and a tight expected supply as additional fuel behind the ramp-up…
Continue reading…
6.40 level emerges on the horizon – UOB
Posted on
There is still room for USD / CNH to lower further and test the 6.40 level in the coming weeks, note FX strategists at UOB Group. Key quotes 24 hour view: “The USD traded between 6.4191 and 6.4377 last Friday before closing at 6.4218 (-0.03%). The underlying tone has weakened but any decline is likely..
Continue reading…
USD / CNH Dips To Low Since June 2018 Thanks To Continued Yuan Rally
Posted on
The yuan hits its highest level in almost two years. The Fed-PBOC monetary policy divergence weighs on the greenback. The offshore Chinese yuan (CNH) continues to gain ground, pushing USD / CNH to multi-year lows. The pair fell to 6.4063 minutes before press time – the lowest level since June 2018 – after peaking around..
Continue reading…
