USD/CNH: To continue falling below 7.00 – DBS
Source Fxstreet
USD/CNH should extend its fall below 7.00 following last week’s 0.9% decline to 6.9815. The pair was last seen at 6.9952, DBS FX analyst Philip Wee notes.
Additional fiscal measures are expected
“The CSI 300 Index surged 15.7% last week, its best weekly performance since November 2008, on China’s most significant monetary stimulus package since the Covid-19 pandemic to support the property sector and shore up capital markets.”
“Additional fiscal measures are expected as China seeks to achieve its 5% growth target. An announcement is likely before the National People’s Congress meeting in the second half of October.”
“The US Treasury Department welcomed last week’s stimulus measures but emphasized the need for increased domestic demand over reliance on exports.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
WTI crude oil futures settled at $96.21 per barrel on May 6, plunging 6.3% to close below $100 for the first time in six days, marking the largest single-day decline since March 17. Brent
Bitcoin jumps to three-month high as US–Iran talks unwind oil risk premiumGlobal markets moved sharply on Wednesday as signs of progress in US–Iran negotiations triggered a rapid unwind of war-driven positions, dragging oil prices lower while lifting equities and cryptocurrencies. Bitcoin climbed above $81,000, its highest level in three months, while Brent crude fell roughly 11% to around $98 per barrel. The S&P 500 rose 0.85%...
Global markets moved sharply on Wednesday as signs of progress in US–Iran negotiations triggered a rapid unwind of war-driven positions, dragging oil prices lower while lifting equities and cryptocurrencies. Bitcoin climbed above $81,000, its highest level in three months, while Brent crude fell roughly 11% to around $98 per barrel. The S&P 500 rose 0.85%...
WTI Crude Falls Over 13% Below $90. US and Iran to Reach Truce Memorandum but Crude Supply Difficult to Recover in Short TermBefore the market opened on May 5, international crude oil losses widened, WTI crude oil futures plummeted below $90 at one point, hitting a low of $88.71, the first time since April 21,
Before the market opened on May 5, international crude oil losses widened, WTI crude oil futures plummeted below $90 at one point, hitting a low of $88.71, the first time since April 21,
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $93.25 during the early Asian trading hours on Thursday. The WTI price declines on optimism over a possible deal to end the war with Iran.
TradingKey - Bitcoin prices continue to surge toward $82,000; however, will MicroStrategy's sell signal trigger a Bitcoin price crash?On May 6, although the largest Bitcoin holder, MicroStrategy ( MST
