It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.
Tag - pbc - people's bank of china
We love trading weeks like this one, filled with impactful events, crypto-crashes, economic releases, and political decisions from global leaders. The day has a lot to offer, so let’s go for it!
It’s unbelievable but China’s government prohibited all transactions with cryptocurrencies.
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.
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.
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
USD/CNH has been steadily dipping, but downbeat China’s PPI and CPI limit the further falling.
GBP/USD is climbing upward. The break out above 1.3500 will drive the pair to multi-year highs.