USD/CNH: Trading between 7.2790 and 7.2960 – UOB Group
Source Fxstreet
The US Dollar (USD) is likely to trade in a sideways range between 7.2790 and 7.2960. USD, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann.
Rangebound between 7.2790 and 7.2960
24-HOUR VIEW: “Our expectation for USD to edge higher did not turn out, as it traded sideways between 7.2856 and 7.2974, closing at 7.2884 (-0.12%). Further sideways trading seems likely, probably in a range of 7.2790 and 7.2960.”
1-3 WEEKS VIEW: “Our update from two days ago (22 Jul, spot at 7.2870) still stands. As highlighted, the recent price action suggest that USD is still trading in a 7.2600/7.3100 range.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for August on Thursday at 12:30 GMT.
The European Central Bank (ECB) is widely expected to hold its key interest rates following the September monetary policy meeting.
The launch of new tokens following headline-making events is not new in the crypto market.
Gold (XAU/USD) is seen building on the previous day's goodish rebound from the $3,613-3,612 area and gaining some follow-through positive traction during the Asian session on Friday.
Data shows the digital gold narrative may be in danger on the short term as Bitcoin has diverged from Gold in its 30-day Correlation.
