USD/CNH jumps past 7.1900 to refresh yearly top on downbeat China data, hawkish Fed halt – by anilpanchal7 USDCNY RetailSales RiskAversion Fed China
China’s May Retail Sales, Industrial Production eases below market forecasts and priors.US Retail Sales eyed as FOMC flags “meeting by meeting” concept for decision-making.
It’s worth noting that the People’s Bank of China recently announced rate cuts and bolstered hopes of economic recovery, which in turn may prod the USD/CNH bulls. However, Fed’s hawkish bias keeps fueling the pair prices of late.
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