The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
Tag - pbc - people's bank of china
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
USD/CNH has been steadily dipping, but downbeat China’s PPI and CPI limit the further falling.
The US dollar is heading for the best week in three. The market sentiment is mixed as optimism about the global economic recovery was outshined by increasing tensions between the West and China.
It’s unbelievable but China’s government prohibited all transactions with cryptocurrencies.
GBP/USD is climbing upward. The break out above 1.3500 will drive the pair to multi-year highs.