The Chinese yuan, following the Russian ruble, continues to weaken against the dollar. It was announced today that Chinese banks are considering further cuts in deposit rates (the third cut this year) to stimulate the economy. From a fundamental point of view, the Chinese yuan should weaken, but from a technical point of view, given…
The IW Institute lowered its forecast for German GDP growth to 0.5% by the end of the year. The euro remains under pressure and continues its downtrend. This direction may stop if the job openings report in America is bad, but not for long.
The Japanese yen is trading in a range as part of the completion of the five-trend buying wave. Earlier, in this range, the Bank of Japan carried out interventions to reduce the exchange rate against the dollar and devalue the national currency. We expect the market to react to this range and reduce quotes against…
