China central bank's monetary policy | 15 tháng Giêng 2021

15 tháng Giêng 2021, USD/JPY

China central bank's monetary policy

USDJPY trading plan:

The Chinese yuan inched up, underpinned by the China central bank's decision to drain a small amount of cash from the banking system while keeping interest rates unchanged. The moved reinforced investors' views that it is slowly shifting to a tightening bias in monetary policy as economic activity bounces back to pre-pandemic levels. This is a negative signal for the stock markets and USDJPY, as the assets are correlated with each other. U.S. Federal Reserve Chair Jerome Powell said interest rates would not rise anytime soon. He added that policy makers would “let the world know” well in advance of any decision to taper bond purchases. This is a positive signal for the stock markets.

Investment idea: range 103.30 -104.20.

David Johnson
Analyst of «FreshForex» company
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