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China does it again

al_dcdemo Actualizado 12 Ago  en #Trader's blog #Support #Resistance #Pboc #H1 Chart #USD/CNH #Reference Rate
I had a very busy (non-trading) day today. I was away from charts all day, but I "knew" at least one big move will happen during that time. I expected Euro strength, but didn't quite expect Franc strength even though the pairs are related. What I didn't expect at all was that PBOC will follow up with another huge yuan reference rate adjustment so soon. I haven't checked the details yet, but it appears that yesterday's adjustment was not a one-off :-)
After rallying more than 3800 pips from the l…
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Puesto que usted no está conectado, no sabemos su idioma, pero suponemos que es inglés
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China devalues yuan

al_dcdemo Actualizado 11 Ago  en #Trader's blog #Pboc #Devaluation #H1 Chart #USD/CNH #Reference Rate #Offshore Yuan
PBOC devalued yuan fix by the most on record (1.9%) overnight. The reference rate is now set at 6.2298, from 6.1162 previously. USD/CNH (offshore yuan) has so far rallied almost 1900 pips and is currently stalling ahead of 6.40 level.
PBOC officials said that this move is a one-off adjustment, but that appears unlikely as strong yuan is one of the main obstacles to Chinese exporters and devaluation will likely be needed if they wish to remain competitive. The move may also signal that they'll do…
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Traducir a inglés Mostrar original

Puesto que usted no está conectado, no sabemos su idioma, pero suponemos que es inglés
Por favor, ingrese o elija otro idioma para traducir la lista.

– o –

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