News


Says ANZ o their China outlook:

We believe China will take a more proactive stance to support economic growth in the H2 2018

  • State Council may launch some growth boosting measures, which should help turn around weakening growth in infrastructure spending
  • We see this ultimately supporting steel and iron ore market, with the later likely to push back towards USD70/tonne
  • A recent State Council meeting called for an acceleration in fiscal spending, which may help to provide funding for infrastructure projects

Bolding mine. Higher iron ore prices will act as a support for AUD (Australia sends lots of the rock to China) 

You will have just seen the CNY mid rate setting:

China is already taking action to support the economy , CNY devaluation will help support exporters. 

ForexLive



Source link

Articles You May Like

EURJPY backs off a ceiling at 126.78. Back fills to support target.
Forex GBP/USD | Intraday Trading Strategies | Trade Room Plus
AUDUSD tried the downside today, but the fall was reversed
GBPUSD stays below 200 hour MA today. Bangs against lows.
RBA minutes show their confidence in Labour data

Leave a Reply

Your email address will not be published. Required fields are marked *