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CHINESE YUAN / U.S. DOLLAR

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CNYUSD trade ideas

Dollars Move Slightly Ahead of Trade TalksDollars Move Slightly Ahead of Trade Talks After finding some support, dollars traded nearly flat on Tuesday. Investors in Asia are awaiting the results of the US-China trade talks in Washington later this week. The US dollar index last traded at 98.657, or 0.01% down from its last close. Meanwhile, against the CNY, the dollar dropped 0.3% to 7.1261. Over in Europe, the British pound extended its losses as EU leaders doubted whether a Brexit deal would come out on time. The deadline for the Brexit is on October 31, giving the two sides only three weeks to hammer out a deal. The GBPUSD pair lost 0.1%, while the EURUSD pair rose up 0.1%. Both the AUD and NZD gained 0.2% and 0.4%, respectively, against the USD. The Japanese yen, on the other hand, declined as the broader market climbed up. Against the yen, the greenback gained 0.1% to 107. Currency Traders Await Trade Talks www.financebrokerage.com On Thursday, high-level trade talks will resume. Chinese Vice Premier Liu He is meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The market isn’t expecting a trade deal to come out of the trade talks immediately. That’s because of reports that suggested the Chinese side was becoming increasingly reluctant to pursue a broader agreement. Moreover, tensions are higher after the US put eight Chinese technology companies on a blacklist. The US government cited accusations of human rights violations. Trump Under Investigation www.financebrokerage.com Over in the US, President Donald Trump is facing more problems. A New York Court recently required him to turn over eight years of personal and corporate tax returns. Trump is facing allegations of breaking a New York state law by reimbursing his former lawyer Michael Cohen for payments he made to Stormy Daniels, a porn star, during the 2016 election. The president will probably appeal that sitting presidents have immunity from criminal prosecution.
by Financebroker
USDCNY: New Long-term Pattern for risk seeking investors.The pair is currently pulling back after an annual high earlier this month with 1D already having turned neutral (RSI = 52.349, MACD = 0.019, Highs/Lows = -0.0174). This appears though to be only a technical Higher High retrace after what has been a very strong bullish sequence since mid April. We have spotted the very same pattern in 2014/2015 when USDCNY made Higher High after Higher High within a two year Channel Up. This Channel emerged after a Double Top and currently we see the same candle action after a nearly May/ June Double Top. The MA200 is there to support the uptrend long term and the MA50 to provide Buy Entries. Under these circumstances currency traders can target 7.3000 on the medium term and 7.6000 - 7.8000 on the long term. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
USD/CNY - Even a hare will bite when it is cornered. Hi, today we are going to talk about Yuan Renminbi and its current landscape. We have a Double Top Breakout on USD/CNY with Volume and could bring the Yuan Renminbi to a dramatic devaluation against the US Dollar. Trough this daily chart, we can observe that China's central bank - (PBOC) had to remove or loosen the grip on it, allowing the currency fluctuation and their free precification by the market, without strong barriers programed by the PBOC. Thank you for reading and leave your comments if you like.
Long
by Igor-Silva
$CNY: Moving higher$CNY is higher than the initial breakout which caused mass panic among the macro tourists on TV. Instead all eyes are on the hapless Fed Chair who shall be known as the man who crashed equities markets. Equity markets will get spooked regardless whatever Powell decide to do. A hold means money's too tight, a full blown rate cut program means an acknowledgment that fundamentals are in the gutter. Jackson Hole is just another step closer to the end game which the bond markets have been signalling for ages. Wakey wakey for folks still buying equities. Back to the USDCNY, it is a breakout so it is going to go higher. As previously mentioned, the bid ask spread between the US and China in this trade war is too far apart and the FX is an adjustment mechanism to the tariffs especially when the Chinese have been keeping the RMB artificially STRONG .
by WellTrainedMonkey
Chinese Yuan: HKD anchor currency swap strategy propositionLooking at a number of currencies performance extending back to the 2007/2008 global financial crisis, and focusing on the yuan in juxtaposition to the HKD, USD, GBP, EUR. Some interesting trends become evident, suggest that perhaps the PRC have a long-term strategy that they are working through in terms of Hong Kong's currency integration into the mainland's central planning, development and implementation, particularly with regards to large-scale infrastructure, Greater Bay Area projects, and the Belt and Road Initiative (BRI).
Short
by StarkNetworks
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