USD/CNH under pressure, underpins AUD buyers

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - USD/CNH has seen an acceleration to the downside at the Tokyo open, currently trading at session lows near 6.57 after a nearly 100 pips decline from the highs of the session at 6.58.

    CNH appreciation a sportive input for AUD

    The appreciation in the Yuan offshore market is perceived as a risk-friendly move for markets, resulting in the Australian Dollar catching a bid tone towards the 0.70 mark, while USD/JPY is trading en-route for a retest of the psychological 118.00 level.

    Agenda for Asia: PBOC fix, Shanghai, CH trade

    As usual, traders should now be watchful of the key events ahead in China, which will undoubtedly inject more volatility in to the Aussie and Yen. Firstly, at 1.15 GMT, we get the PPBOC USD/CNY fix, followed by the China stock market open at 1.30GMT, with China's trade balance at (tentative but around 2GMT) also to factor in.
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