OctaFX | OctaFX Forex Broker
Open trading account
Back

RMB: Ready for inclusion in IMF’s SDR basket – ANZ

FXStreet (Delhi) - Khoon Goh, Senior FX Strategist at ANZ, notes that the RMB’s chances of inclusion in the IMF’s SDR basket have been boosted by the US’s conditional support.

Key Quotes

“The Chinese authorities’ focus will therefore be on ensuring that the RMB can meet the IMF’s criteria.”

“With USD/CNH now trading below USD/CNY, we believe the stage is set for an easing back in intervention activity, likely after the week-long National Day holidays and as we get closer towards the SDR decision in November.”

“We still expect the RMB to depreciate should the Chinese authorities allow the currency to be more market-determined, but the extent of RMB decline will be more measured.”

Japan Vehicle Production (YoY) rose from previous -5.9% to -4.7% in August

Japan Vehicle Production (YoY) rose from previous -5.9% to -4.7% in August
Read more Previous

USDJPY: Range trade between 119 and 121 - Nomura

Research Team at Nomura, suggest that after temporarily breaking 117 on 24 August, USD/JPY has been trading within a narrow range from 119 to 121 and before the October FOMC meeting and the second BOJ meeting in October (28 and 30 October respectively), USD/JPY may not break its recent high and low.
Read more Next
Start livechat