Back
20 Aug 2015
USD/CNY neutral in the short term – BTMU
FXStreet (Edinburgh) - Strategists at BTMU keep the neutral stance on the pair for the upcoming week.
Key Quotes
“Unless US Fed Vice Chairman Fischer shocks markets back to September we are beginning to shift towards trading as if lift-off could be December”.
“That feels like a headwind against more USD strength next week, which used to not matter for USD/CNY but that was before the renminbi’s regime change”.
“PBOC in its stabilization campaign also seems to be leaning a bit to the downside”.
“Whether the Caixin/Markit manufacturing PMI # can sustain the recovery seen in its MNI counterpart, however, will be important as to whether PBOC can cement expectations”.
Key Quotes
“Unless US Fed Vice Chairman Fischer shocks markets back to September we are beginning to shift towards trading as if lift-off could be December”.
“That feels like a headwind against more USD strength next week, which used to not matter for USD/CNY but that was before the renminbi’s regime change”.
“PBOC in its stabilization campaign also seems to be leaning a bit to the downside”.
“Whether the Caixin/Markit manufacturing PMI # can sustain the recovery seen in its MNI counterpart, however, will be important as to whether PBOC can cement expectations”.