USD/CNH: Lack of optimism in China favor bulls above 6.8800 despite softer US Dollar – by anilpanchal7 USDCNY Growth RiskAversion China YieldCurve
inese Yuan fails to portray the broad US Dollar gains amid doubts surrounding China’s economic growth and banking sector’s strength, not to forget downbeat China data.
On Monday, Chinese Industrial Profits marked -22.9% YTD figures for February versus the previous readings of -4.0%. On the contrary, global policymakers manage to propel the risk-on mood via stretched emergency credit lines to troubled banks and deposit insurance schemes. Recently adding strength to the risk-on mood were comments from the central bank officials pushing back the banking crisis concerns and the Silicon Valley Bank deal.
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