
The G20 summit took place in Bali, Indonesia, on November 2022…
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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.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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