The positive signal for Asian financial markets | 19 Octubre 2021

19 Octubre 2021, USD/JPY

The positive signal for Asian financial markets

USDJPY trading plan:

China's yuan leapt to a four-month high against the dollar, aided by market expectations that the stresses in the domestic property sector as well as Sino-U.S. tensions are easing. The rise in the yuan in onshore and offshore markets followed weaker-than-expected Chinese economic growth data, but after China's central bank calmed markets late last week saying spillover effects from the China Evergrande Group's debt woes were controllable. The yuan was supported by heavy corporate clients' conversion of their dollars as they took advantage of broad dollar weakness, after the latter was knocked back by weak U.S. factory data overnight. This is a positive signal for Asian financial markets!

Investment idea: buy 113.82 and take profit 114.33.

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.