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China’s central bank cut its reserve requirement ratio

China’s central bank cut its reserve requirement ratio | 03 January 2020

03 January 2020, USD/JPY

China’s central bank cut its reserve requirement ratio

USDJPY trading plan:

U.S. President Donald Trump said on Tuesday the U.S.-China Phase 1 trade deal would be signed on Jan. 15 at the White House. This is a good signal for the stock market and USD JPY, which has a correlation with the shares. Additional support for stock markets will be provided by macroeconomic statistics from China. China’s central bank cut its reserve requirement ratio for banks, freeing up $115 billion in liquidity. The number of Americans filing claims for jobless benefits edged lower last week, a positive signal for the U.S. labor market. Labor market strength is underpinning consumer spending, keeping the economy on a moderate growth.

Trading recommendation: Buy 108.39 and take profit 108.90.

David Johnson
Analyst of «FreshForex» company
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