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The demand for effective financing decreased

The demand for effective financing decreased | 16 May 2022

16 May 2022, USD/JPY

The demand for effective financing decreased

USDJPY trading plan:

New bank lending in China hit the lowest in nearly four and half years in April as the COVID-19 pandemic jolted the economy and weakened credit demand, central bank data showed on Friday, after it pledged to step up support to ward off a sharper slowdown. Chinese banks extended 645.4 billion yuan in new yuan loans in April, down about 80% from March. Enterprises, especially small, medium-sized and micro enterprises, had more operating difficulties, and demand for effective financing decreased significantly. This is a negative signal for Asian stock markets and USDJPY, as assets correlate with each other.

Investment idea: sell 129.75 and take profit 129.14.

David Johnson
Analyst of «FreshForex» company
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