
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
Don’t waste your time – keep track of how NFP affects the US dollar!
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The US-Chinese relationship has been tense amid Trump’s governance, but if Biden wins, the situation may change. Let’s find out what it means for the Chinese yuan.
The presidential candidate Joe Biden claimed that current tariffs for Chinese goods are too high and need to be decreased as they create drawbacks not only for the Chinese side, but also for American companies and consumers that are forced to overpay.
However, everybody understands that Biden won’t impose lower tariffs immediately after his victory. Of course, it will take some time, but if he wins, it will reduce the market uncertainty. Investors will be confident in his further rational actions over the Chinese trade agreement.
The Lombard Odier analysts forecast that USD/CNH will reach 6.50, while currently it trades at the 6.70 level. It’s quite possible as the CNH has been already declining since May.
USD/CNH has been trading in a descending channel for over 5 months. Today the pair bounced off the lower trend line and took a breath after falling for so long. The upcoming presidential debate and impetus in fiscal stimulus deteriorated the market sentiment and underpinned the safe-haven USD. The most possible scenario is that the pair will rise to the resistance zone near 6.7500, where it will reverse and then start falling again, sticking to its long-term bearish trend. Support levels are 6.6250 and 6.6000.
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
NVIDIA is set to release its earnings results after the closing bell on February 24. What to expect?
The Reserve bank of New Zealand holds a meeting on Wednesday at 3:00 MT time.
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