USD/CNH neutral in the short-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The research team at UOB Group has reiterated the neutral outlook in the pair for the next 1-3 weeks.

    Key Quotes

    “The RMB barely moved against the greenback last Friday and ended last week flattish as traders had reduced bearish positions on the RMB slightly (from a Reuters poll) while the PBoC kept the daily reference rate in a tight range of 25 pips over the past week”.

    “All eyes will be on Wednesday’s industrial profits data for December, as well as the Westpac-MNI consumer sentiments for January”.

    “There is no not much to add as the recent high volatility continues to ease (which reinforces our current neutral view). In the next 1 week or so, we expect USD to trade between 6.5700 and 6.6300”.
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