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If USD/CNH is the canary in the coalmine, USD/JPY might be in trouble
A bearish reversal pattern has formed on USD/CNH which implies a move down to 7.10. And if the yuan continues to strengthen, it could see the yen follow and scupper USD/JPY attempt at breaking 152.
USD/JPY, USD/CNH uptrends under threat as dollar rally splutters
The US dollar rally since the start of the year is showing signs of fatigue, unable to build upon gains last week despite widening yield differential between the United States and other major nations, including in Asia.
Hang Seng, China A50 and CNH need sustained rally to turn bearish China narrative around
There is a real confidence problem right now towards China. And while the underlying reasons are complex, the easiest way to change the prevailing bearish narrative is for the price action to turnaround. Price leads narrative.
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USD/CNH down, A50 up as weak Chinese inflation keeps stimulus hopes alive
Chinese inflationary pressures remain weak, whether it be upstream or for consumers. But with expectations for further stimulus from the Chinese policymakers baked in the cake, does it have implications for China’s equity market or currency?
AUD/USD going backwards as Asia FX struggles with a resurgent US dollar
It’s hard to get excited about the prospects for Asian currencies when you see Chinese inflation data as weak as those released on Saturday, signifying that despite an increasingly lengthy list of measures to support activity, the world’s second-largest economy is operating well below its potential level.
AUD/USD, USD/CNH: PMIs suggest China’s economy is nearing stall speed
Chinese economic activity is nearing stall speed with the government’s purchasing managers indexes (PMIs) falling further in November, surprising markets to the downside for a second consecutive month.
AUD/USD hits resistance pre-CPI as USD/JPY, USD/CNH probe support: Asian Open
With USD/CNH and USD/JPY probing key support levels, we may require a break of them for AUD/USD to stand a chance of continuing its strong rally (which met strong resistance on Tuesday). Unless of course Australia is treated to an uncomfortably hot inflation report today, which could fan fears of another RBA hike.
US dollar bears running out of steam? AUD/USD, USD/JPY: Asian Open
We watched with bated breath to see if USD/CNH would break its 200-day average on Tuesday and pave the way for the next bout of US dollar weakness. Yet with that key level holding as support, it leaves room for some US dollar strength, a higher USD/JPY and weaker AUD/USD.
AUD/USD rises as RBA min retain hawkish bias, USD/JPY, USD/CNH slide continues
There was a risk that the RBA’s minutes were more hawkish than their November statement had let on, and this certainly seems to be the case. And hawkish minutes alongside a lower USD/CNH and USD/JPY have helped AUD/USD test a new cycle high today. Can it now gun for 66?
Dollar analysis: USD/CNH in focus ahead of key events
The USD/CNH pair has been stuck in a tight range, unable to move in either direction. In recent days, the US dollar has weakened a little across the board owing to recent signs of peak interest rates in the US. But expectations that interest rates will remain elevated for a long period of time means that the greenback continues to find support against weaker currencies like the yuan and yen, among others.
China A50, USD/CNH: Prime reversal candidates should US economic exceptionalism falter
It’s been a rough year for Chinese markets with the A50 share index and CNH down sharply as hopes for booming economic activity coming out of the pandemic failed to materialise.
USD/CNH, A50: Bearish breaks as Chinese property prices keep on falling
Optimism towards China’s GDP, retail sales and industrial output beats didn’t last long with the A50 and USD/CNH resuming their unwind following more data showing property market weakness.
China A50, USD/CNH: Turning point as economic recovery gathers pace?
Activity levels in China’s economy look to be slowly picking up, providing relief for cyclical assets amidst a deteriorating macro backdrop due to events in Gaza. That's helping boost CNH and China's A50 share index.
China A50, USD/CNH: Weakening trend in focus ahead of key economic data
Chinese markets are reopening after Gold Week, having to navigate heightened geopolitical risks in the Middle East, spiking US bond yields and key economic data at home.
Bonds bounce hard following bloodbath: did we just see the highs for yields this cycle?
Whatever the catalyst, something strange happened in US Treasuries on Thursday: bond yields actually fell, sparking speculation of an impending reversal.
USD/JPY, AUD/USD, USD/CNH: Fading intervention that fails fundamentals
Any attempt to support JPY through direct market intervention is unlikely to have success beyond the short-term when the fundamentals are so strongly working against it.
USD/CNH, AUD/JPY: China ‘data dump’ relieves pressure on yuan, Australian dollar
China’s August “data dump” has come in ahead of expectations, solidifying the view activity in the world’s second-largest economy is beginning to stabilise.
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USD/CNH: Turning point as yuan strengthens despite US core CPI strength?
USD/CNH has broken out of the range it’s been in since July, signaling a potential period of consolidation, or even a reversal, from the prevailing bullish trend.
USD/CNH: Encouraging signs from China’s economy may spark deeper reversal
The Chinese yuan looks set for its largest gain against the US dollar since March, propelled higher a triple-whammy of factors.
AUD/USD: Price action suggests bearish sentiment nearing exhaustion point
AUD/USD downside has slowed despite a lot of negativity, bolstering the case for a near-term bounce ahead of key risk events later this week.
USD/JPY saw a lively start at the Tokyo open, USD/CNH breaks out
USD/JPY moved around 80% of its average daily range within the first 30-minutes of trade, in what appears to be a bout of yen buying. USD/CNH also broke above a key high.
Gold stabilises around support, USD/CNH hints at breakout: Asian Open
Gold has pulled back to an important support zone between the 200-day averages, and with yields pulling back perhaps it can muster up the strength for a burst higher. USD/CNH is also on the cusp of a breakout despite earlier reports that China's state banks are actively selling the pair.
USD/CNH, AUD/USD: Spluttering services sector activity in China is hardly new news
With policymakers continuing to rollout stimulus measures, it’s questionable whether the USD/CNH pop will last.