USD/CNH continues to juggle around 6.9000 as focus shifts to PBoC policy – by Sagar_Dua24 USDCNY Fed PBOC GDP RiskAversion
S&P500 futures are showing minimal losses in the Asian session after a stalwart recovery on Thursday, portraying an improvement in the risk appetite of the market participants. The US Dollar Index has delivered a breakdown of the consolidation formed in a narrow range of 104.30-104.60.
Going forward, the release of the PBoC’s monetary policy decision will be in focus. Economist at UOB Group suggests that the PBoC could reduce the Loan Prime Rate at its next meeting on March 20. They further added, “With the need for further support measures toward the real economy and for 5Y loan prime rate to fall further to boost demand for homes, we see the possibility for the 1Y LPR to fall to 3.55% and 5Y LPR to 4.20% in Mar, following the National People’s Congress .
Meanwhile, an upside revision in China’s Gross Domestic Product forecasts would support the Chinese Yuan. Investment banking firm, Goldman Sachs, has revised its 2023 China GDP projections to 6.0% from the prior estimation of 5.5%.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
USD/CNH seeks support around 6.8800 as Chinese Retail Sales justify expectationsUSD/CNH seeks support around 6.8800 as Chinese Retail Sales justify expectations – by Sagar_Dua24 USDCNY Fed RetailSales IndustrialProduction Inflation
Weiterlesen »
USD/CNH still faces firm contention around 6.8350 – UOBThe resumption of the downside in USD/CNH should meet initial support around 6.8350 ahead of 6.8000, note UOB Group’s Economist Lee Sue Ann and Market
Weiterlesen »
USD/CNH: Downward bias alleviated above 6.9300 – UOBThe selling pressure around USD/CNH is expected to mitigate on a breakout of 6.9300, said UOB Group Quek Ser Leang and Senior FX Strategist Peter Chia
Weiterlesen »
AUD/USD looks set to regain 0.6700 despite mixed China data, PBOC inactionAUD/USD looks set to regain 0.6700 despite mixed China data, PBOC inaction – by anilpanchal7 AUDUSD China RiskAppetite CentralBanks Macroeconomics
Weiterlesen »
China: PBoC could ease further its monetary conditions – UOBLee Sue Ann, Economist at UOB Group, suggests the PBoC could reduce the Loan Prime Rate (LPR) at its next meeting on March 20. Key Quotes “With the ne
Weiterlesen »
92% of women runners say they're concerned about safety during outdoor runs: surveyThe survey, which included 9,000 people, found that a majority of female runners take safety precautions like wearing loose clothing or finding a running partner who can offer protection.
Weiterlesen »