CNH: Chinese Currency Could Return to the 6.3-6.9 LevelCME: USD/Offshore RMB Futures ( CME:CNH1! )
Last week, I discussed how China’s huge stimulus package, coupled with the Fed’s supersized rate cut, could improve global energy demand and lift crude oil higher.
As soon as the stimulus was announced, China’s stock market staged a huge rally. The Sh
USD/CNH FX Futures: Yuan Bears a reflection of China's woesThe PBOC has repeatedly fixed its daily reference rate for the onshore yuan (CNY) at levels below estimates. But measures from the PBoC to support the Yuan has not been effective in changing the trend amidst a slew of economic stress (property slump, rising unemployment, deflation fears, etc) that m
USDCNH - Testing new highsThe trajectory of the USDCNH is a burning question as it approaches the highs witnessed in November 2022.
Recent weeks have seen China's economic robustness wane, and as a result, attempts by its central bank to ease the situation have led to a weakening of the CNH. This dynamic becomes clearer
The Evolution of China YuanThis video recording, a brief history of the China Yuan through these 5 stages.
My main aim is to derive the fair value of the present Yuan and into the future.
Reference for trading in CME USD/Offshore RMB (CNH) Futures
Minimum fluctuation
0.0001 per USD increment = 10 CNH
Disclaimer:
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CNH: Hedging Currency Risk amid Heightened UncertaintiesCME: USD/Offshore RMB ( CME:CNH1! )
Even though the Chinese Yuan is not a component in the US Dollar Index, Dollar-Yuan exchange rate generally tracks the dollar index. If dollar gains in value, most foreign currencies depreciate against it, yuan included. When dollar is weakened, the opposite hold
The case for a Weaker Yuan
The most recent Caixin Manufacturing PMI dipped below 50, landing back in contraction territory after two prints above the 50-mark. As the world's top exporter, China is acutely sensitive to fluctuations in both exports and manufacturing numbers. Historically, we've seen periods of Yuan devaluatio
Dollar vs Yuan Divergence US Dollar vs Yuan or US Dollar vs Offshore Yuan, technically they are establishing divergence. Above chart is my projection in time to come.
When Dollar vs Yuan moves lower, this means we are seeing a weaker Dollar and a stronger Yuan. See the following link for its video version.
The Chinese y
Trade Data Confirms Decoupling Well UnderwayCME: Offshore RMB ( CME:CNH1! ), Micro RMB ( CME_MINI:MNH1! )
On April 5th, the Bureau of Economic Analysis reported the latest U.S. global trade data. For the first two months of 2023, total export and import were $328.9 and $489.7 billion, respectively. U.S. international trade balance was $160.9
Wandering Balloon Deflates the Rise of Chinese YuanCME: USD/RMB Futures ( CME:CNH1! )
US-China relations are arguably the most challenging bilateral relations in the 21st century. It has been in a free fall since the 2018 trade conflict. The competition has intensified and spread to investment, technology, among other arenas since then.
On Novembe
The Rise and Fall of Chinese YuanCME: USD/Offshore RMB ( CME:CNH1! ), COMEX: Copper Futures ( COMEX:HG1! )
Two weeks ago, China abruptly overhauled its strict Covid policy that had been in place for nearly three years. Lockdowns, health codes, massive testing, and domestic travel restrictions are no longer enforced. “The world chan
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Summarizing what the indicators are suggesting.
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
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Frequently Asked Questions
The current price of Standard-Size USD/Offshore RMB (CNH) Futures is 7.3025 CNH — it has risen 0.30% in the past 24 hours. Watch Standard-Size USD/Offshore RMB (CNH) Futures price in more detail on the chart.
The volume of Standard-Size USD/Offshore RMB (CNH) Futures is 161.00. Track more important stats on the Standard-Size USD/Offshore RMB (CNH) Futures chart.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Standard-Size USD/Offshore RMB (CNH) Futures this number is 561.00. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Standard-Size USD/Offshore RMB (CNH) Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Standard-Size USD/Offshore RMB (CNH) Futures. Today its technical rating is strong buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Standard-Size USD/Offshore RMB (CNH) Futures technicals for a more comprehensive analysis.