CNH edges down after PBoC rate cut – BBH
Source Fxstreet
The Chineze Yuan (CNH) edged down after the People’s Bank of China (PBOC) unexpectedly cut the seven-day reverse repo rate, BBH FX analysts note.
China looks set for weaker growth in the years ahead
“CNH edged down after the People’s Bank of China (PBOC) unexpectedly cut the seven-day reverse repo rate 10 bp to a historic low of 1.70%. The PBOC is trying to shore-up sluggish Chinese economic activity.”
“However, until China deals with its huge debt overhang (total debt is more than 300% of GDP), the country looks set for weaker growth in the years ahead.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the European session on August 11, gold prices (XAUUSD) briefly topped $4,400 intraday, reaching a high of $4,435.2, its highest level since June 5. However, gains subsequently narr
West Texas Intermediate (WTI) oil price moves little after registering gains over 6.5% in the previous day, trading around $81.40 during the Asian hours on Tuesday.
Gold Price Forecast: Gold Rises as Nonfarm Payrolls Unexpectedly Turn Negative; Can CPI and PPI Help Break $4,500? As of the Asian session on August 10, gold prices ( XAUUS D) extended last week's trend into this week after a sharp rise last week, with the latest gold price trading near $4,345, up sli
As of the Asian session on August 10, gold prices ( XAUUS D) extended last week's trend into this week after a sharp rise last week, with the latest gold price trading near $4,345, up sli
The ongoing US-Iran conflict has entered a crucial diplomatic phase, with intense fighting and strategic pressure around the vital Strait of Hormuz continuing to drive the dynamic of the war.
As of the European session on August 7, gold prices ( XAUUSD) extended their recent strong performance, rising over 1% intraday to briefly cross the $4,300 mark. With a cumulative gain of
