Sideways movement predicted for USDCNH till the end of 2017. Nothing to see here, move on to another pair.
Fundamentals -CNY fixing (Higher swaps -> lesser short interest) (Authority looking to keep yuan stable. Volatile Yuan -> Bad for economy) -Fed Rate Decision (Yuan least affected by fed decision -> see capital flows for direction of currency) -Balance of Payments (Don't expect BOP to deviate in extreme fashion -> See FX reserves) -Devalued Yuan is providing support to economy -> improvement in industrial profits
Technicals Strong resistance at 7.0, Support expected to deviate between 6.7 - 6.75
Black Swan Events -Real Estate Bubble pops - 20% (Personally, I do not expect the bubble to pop in 2017. Open for debate) No further explanation needed -Donald Trump - 5% (North Korea deal informally reached? -> See Xi's visit to US) "China is a currency manipulator" -> competitive devaluation
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.