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25 Jan 2016
USD/CNH neutral in the short-term – UOB
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”.
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”.