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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • The Nasdaq 100 index has likely formed an inverse “Head and Shoulders” pattern, which is typically viewed as a bullish trend reversal indicator. Prices may advance further to challenge their all-time highs. Get your market update from @margaretyjy here:
  • Earnings season begins this week with the arrival of quarterly reports from the country’s largest banks. Can they shrug off losses from the recent Archegos blowup and rally higher or will risk aversion take root? Market update from @PeterHanksFX here:
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 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:
  • 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:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
USD/CNH Jumps After Weak Chinese Data and Impacts of Trade War

USD/CNH Jumps After Weak Chinese Data and Impacts of Trade War

Megha Torpunuri,


  • Offshore Yuan and equities fell after soft economic data
  • Weak economic activity could prompt PBOC intervention
  • $16b reciprocal tariffs, US advance retails sales in focus next

The offshore Chinese Yuan fell against the greenback as local economic data crossed the wires during Tuesday’s session. July’s retail sales y/y clocked in at 8.8%, down from both economists’ forecasts of 9.1% and June’s 9.0%. Rural-excluded fixed assets declined to 5.5% for last month from the prior and expectations of 6.0%. Furthermore, the local jobless rate increased to 5.1% from 4.8%. The underperforming data, which caused the Hang Seng and CSI 300 to immediately fall, could suggest that President Trump’s 25% tariffs on $34b of Chinese imports that went into effect in July negatively impacted Chinese consumers and businesses.

Although the US Dollar pared its gains against its Chinese counterpart later in the trading session, the currency pair has been rising since April 2018. The Yuan’s downturn may have been aided in part by steadily weakening economic activity, which could lead to more monetary policy support on behalf of the state bank. Recently, the People’s Bank of China has taken action in order to quell Yuan selling, initiating a hike in the RRR on foreign exchange forwards and stating that the suspended counter-cyclical factor used to curb excessive selling of the unit may be resumed.

USD/CNH 5-Minute Chart

USD/CNH Jumps After Weak Chinese Data and Impacts of Trade War

Next, USD/CNH looks to the release of July’s US advance retail sales figures, which is forecasted to decrease to 0.1%, compared to June’s 0.5%. In addition, the US Dollar may make further gains as the risk of financial contagion from banks’ exposure to the Turkish Lira persists. As for the next few weeks, however, a lack of upcoming high-impact American and Chinese economic data puts trade war tensions in the spotlight regarding implications for the currency pair. The tit-for-tat $16b import tariffs both countries have imposed are set to take effect on August 23, possibly causing some volatility.

USD/CNH Trading Resources

--- Written by Megha Torpunuri, DailyFX Research Team

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