News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/qtAmyhFU9A
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/S74APOiQ3y
  • Two of the main Euro-pairs, $EURUSD and $EURGBP, are being driven by very different drivers. Get your market update from @nickcawley1 here: https://t.co/Vd32Y6HKEr https://t.co/Lgb5z5V1Xa
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/9uPXNvDBS5
  • We ended this past week with another cliffhanger. The $SPX teeters on the edge of a breakdown from the post-pandemic recovery. While we have NFPs and other key data ahead, the markets are likely to remain fixated on yields. My outlook for next week: https://www.dailyfx.com/forex/video/daily_news_report/2021/02/27/SP-500-Dollar-Reversal-Hinge-Not-On-NFPs-but-Markets-Risk-Imagination.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/mlNDDyTgex
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/70ZOJ0ZMwF
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/SyroornFf5
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4QhQGQ6 https://t.co/KrMcyZZqO7
  • The Reserve Bank of Australia (RBA) rate decision may spark a bullish reaction in $AUDUSD as the central bank is expected to retain the current course for monetary policy. Get your market update from @DavidJSong here: https://t.co/WbcR9ER0qT https://t.co/TynsqCtPQ6
  • Gold has broken below a critical support confluence we’ve been tracking for months now and the risk remains for further losses while below this threshold in the weeks ahead. Get your $XAUUSD market update from @MBForex here:https://t.co/xgN2obaIWR https://t.co/H71ufPNkPg
Yuan, Equities Weakness Likely to Continue in the Beginning of 2017

Yuan, Equities Weakness Likely to Continue in the Beginning of 2017

Renee Mu, Currency Analyst

This daily digest focuses on Yuan rates, major Chinese economic data, market sentiment, new developments in China’s foreign exchange policies, changes in financial market regulations, as well as market news typically available only in Chinese-language sources.

- The Chinese Yuan lost nearly 7% against the U.S. Dollar in both onshore and offshore markets in 2016.

- The PBOC raises requirements for reporting cross-border transactions beginning in July 2017.

- If you’re looking for more trading ideas, check out our Trading Guides.

To receive reports from this analyst,sign up for Renee Mu’ distribution list.

Yuan Rates

- In 2016, the Chinese Yuan lost -6.95% against the U.S. Dollar onshore and -6.94% offshore, as of 11am December 30th EST. The Yuan’s reference rate set by the PBOC dropped -6.83% this year. Amid the Dollar strength driven by the U.S. recovery, the Yuan is likely to continue to bear downward pressure against the Dollar in 2017.

The offshore USD/CNH has been setting record highs during the last two months of 2016. It touched 6.9870 on December 29th, close to the key psychological level of 7.0.

USD/CNH 1-Day

Yuan, Equities Weakness Likely to Continue in the Beginning of 2017

Prepared by Renee Mu.

The onshore USD/CNY has risen to the highest level in eight and a half years. On December 29th, the PBOC announced to revise the calculation of the CFETS Yuan Index beginning in 2017, including reducing the U.S. Dollar’s weight. China’s current exchange rate target is to maintain the Yuan basically stable against a basket of currencies, which is measured by three Yuan Index: CFETS Yuan Index (the primary indicator), BIS Yuan Index and SDR Yuan Index. Cutting Dollar’s weight in Yuan’s reference basket will reduce the impact of Dollar/Yuan moves, which have seen elevated volatility, to the overall Yuan stability.

USD/CNY 1-Week

Yuan, Equities Weakness Likely to Continue in the Beginning of 2017

Prepared by Renee Mu.

- Chinese equities had a rough year in 2016: Shanghai Composite Index fell -12.31% following a +9.41% gain in 2015 and a +52.9% hike in 2014. The Second-board Index plunged -27.71% in 2016, even worse than the main board. In 2017, China’s economic growth is expected to drop to 6.5%. At the same time, capitals outflows saw increases amid a weaker Yuan and likely continue to be case. Within such context, Chinese equities may remain lack of momentums in 2017.

Shanghai Composite Index 1-Day

Yuan, Equities Weakness Likely to Continue in the Beginning of 2017

Prepared by Renee Mu.

Market News

Hexun News: Chinese leading online media of financial news.

- China’s Central Bank announced officially on December 30th to strengthen oversight on cross-border transactions. From July 2017, banks and four other types of financial institutions will need to report cross-border transactions larger than 50,000 yuan, compared to the current threshold of 200,000.

To receive reports from this analyst,sign up for Renee Mu’ distribution list.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES