USD/CNY Spikes Over 7.00 And There Is More To Come

By InTheMoneyStocks.com (Nicholas Santiago)CurrenciesAug 05, 2019 06:28PM ET

www.investing.com/analysis/usdcny-spikes-over-700-and-there-is-more-to-come-200451006

USD/CNY Spikes Over 7.00 And There Is More To Come

By InTheMoneyStocks.com (Nicholas Santiago) | Aug 05, 2019 06:28PM ET

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The currency market is once again the real judge of the stock markets. By now, most traders and investors have heard that the USD/CNY is trading near 7.0457. Over the weekend, China seems to have retaliated against the United States and its threat of increased tariffs. China is simply devaluing its currency to boost its exports to offset U.S. tariffs. This is a move that the U.S. has actually warned China about in the past. Reports are also out in the financial media that China will suspend new U.S. agricultural product purchases by Chinese companies.

With all of that said, we look to the chart. The current break-out pattern of the USD/CNY chart suggests that it will continue to climb into the 7.35 to 7.50 level. So get ready, this is not ending anytime soon.

USD/CNY

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Central Banks

Interest Rates

Next Meeting

FED

5.25%

Jun 14, 2023

ECB

3.75%

Jun 15, 2023

BOE

4.50%

Jun 22, 2023

SNB

1.50%

Jun 22, 2023

RBA

3.85%

Jun 06, 2023

BOC

4.50%

Jun 07, 2023

RBNZ

5.50%

Jul 12, 2023

BOJ

-0.10%

Jun 16, 2023

CBR

7.50%

Jun 09, 2023

RBI

6.50%

Jun 08, 2023

PBOC

3.65%

BCB

13.75%

Jun 21, 2023

US 30	33,759.9	+698.3	+2.11%
US 500	4,282.3	+61.3	+1.45%
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U.S. 10Y	3.698	+0.005	+0.15%
U.S. 30Y	3.889	+0.006	+0.17%
U.S. 5Y	3.851	+0.009	+0.23%
U.S. 3M	5.385	-0.008	-0.14%
US 10Y T-Note	113.84	-0.89	-0.78%
Euro Bund	135.45	-0.75	-0.55%
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Netflix	400.47	-2.66	-0.66%
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USD/CNY Spikes Over 7.00 And There Is More To Come

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