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
International oil prices continued to climb on Monday, extending their strong performance from the previous week.As military confrontations between the U.S. and Iran heat up again in and
Hot August jobs report reignites Fed-hike bets; S&P 500 slips below 7,700 — what to watch before the September FOMCAugust nonfarm payrolls surged to 162,000, three times the consensus, pushing CME FedWatch odds of a September 25-bp hike to 58.4% and dragging the S&P 500 below 7,700. CPI, PPI and the Sept 15-16 FOMC decision now set the tone for US stocks.
August nonfarm payrolls surged to 162,000, three times the consensus, pushing CME FedWatch odds of a September 25-bp hike to 58.4% and dragging the S&P 500 below 7,700. CPI, PPI and the Sept 15-16 FOMC decision now set the tone for US stocks.
Today’s Market Recap: Nonfarm Payrolls Far Exceed Expectations, Fed Rate Hike Expectations Heat Up, Micron Surges 6% Against the Trend, SanDisk Jumps Over 10%Tracking Market TrendsTradingKey - On September 4, Eastern Time, the three major US stock indices closed lower across the board. US August non-farm payrolls data far exceeded market expectations, rein
Tracking Market TrendsTradingKey - On September 4, Eastern Time, the three major US stock indices closed lower across the board. US August non-farm payrolls data far exceeded market expectations, rein
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their weekly gains on Friday as traders await the US Nonfarm Payrolls (NFP) report for the next directional catalyst.
Yen hits one-month high on BOJ September-hike bets; AUD/JPY cracks support as carry unwindsUSD/JPY has tumbled from the 160 area to a one-month low near 155.2 in two sessions as Bank of Japan hike bets for the Sept 17-18 meeting intensify. AUD/JPY has broken below 112.7, flagging carry-trade stress. A test of 155.21 - and then 153 - is now in focus.
USD/JPY has tumbled from the 160 area to a one-month low near 155.2 in two sessions as Bank of Japan hike bets for the Sept 17-18 meeting intensify. AUD/JPY has broken below 112.7, flagging carry-trade stress. A test of 155.21 - and then 153 - is now in focus.
