USD/CNY Fundamental Analysis – December 1, 2015 – Forecast

Analysis and Recommendation:

The USD/CNY opened the week at 0.6395 flat so far in the morning paying little attention to the climbing US dollar. The Chinese stock market plunged on Friday as regulators begin looking into investment brokers. The International Monetary Fund is expected to announce today that China’s currency will join the fund’s group of international reserve currencies which currently includes the US dollar, the euro, the yen and the British pound, the BBC reported.

China is the world’s second-largest economy behind the US, and asked for its currency to become a reserve currency last year. The International Monetary Fund is expected to announce today that China’s currency will join the fund’s group of international reserve currencies which currently includes the US dollar, the euro, the yen and the British pound, the BBC reported.

China is the world’s second-largest economy behind the US, and asked for its currency to become a reserve currency last year.

Some traders expect Beijing may allow the yuan to depreciate after being admitted to the SDR basket, partly to reflect China’s slowing economic growth. Bearish views on the currency rose to their highest in three months, according to a Reuter’s poll last week.

The offshore Chinese yuan rebounded from early lows by more than 300 pips against the dollar on Monday, with traders suspecting Beijing intervention. In less volatile onshore trade, the yuan fell to a three-month low of 6.3918 to the dollar.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole. Please click on the links to find the most recent reports for this asset.

Today’s economic releases:

 

Upcoming Economic Events that you should be monitoring:

Tuesday, December 1, 2015

Government Bond Auctions

Date Time Country

Dec 01 11:30 UK 1.5% 2021 Gilt auction

Dec 02 16:30 Sweden Announces details of Bond on 11 Dec

Dec 03 10:30 Spain Auctions

Dec 03 10:50 France Auctions OATs

Dec 03 11:03 Sweden Holds I/L bond auction

Dec 04 11:03 Sweden Holds I/L bond auction