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Market upbeat ahead of G20 meeting

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Forex News and Events G20 in focus (by Peter Rosenstreich) Ahead of the G20 meeting in Shanghai USDCNY FIX was marginally higher at 6.5481. What we are seeing is that the CNY is staying within normal trading range without any dramatic price changes (i.e. devaluation). This controlled exchange rate strategy which should persist near-term despite FX outflows not having slowed meaningfully (Jan FX outflow approx. $90bn). In support for our view of ordinary two-way trading, Chinese policy makers

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