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Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
This article was written by Eamonn Sheridan at www.forexlive.com.
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
This article was written by Eamonn Sheridan at www.forexlive.com.
AUD/USD has its highest since December 2, 2024.
EUR, GBP (highest since February of 2022!), NZD, CAD, CNH all rising also.
My headline remark about the People's Bank of China 'propping up' the dollar is a jest. BUT ... the PBoC didi flip its damping today to slow the rise of the CNY against the poorly performing USD:
Offshore yuan is rising regardless:
This article was written by Eamonn Sheridan at www.forexlive.com.CNH is rising still, hitting highs not since early November 2024:
This further extension for the yuan comes as the PBoC 'flips' its damping in the CNY from support for the CNY to an effort to slow its rise:
This article was written by Eamonn Sheridan at www.forexlive.com.Country Garden Holdings, formerly China’s top property developer by contracted sales, will appear in a Hong Kong court on Monday to request more time to progress its $14.1 billion offshore debt restructuring.
The company has reportedly gained backing from creditors representing over 70% of its debt.
However, as of May 22, key bank lenders had yet to sign on, according to media reports.
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I'm not sure this saga will ever end!
This article was written by Eamonn Sheridan at www.forexlive.com.يمكن إضافة كل قالب في مكتبة الاستوديو الخاصة بنا المتنامية باستمرار وتحريكه داخل أي صفحة بسهولة بنقرة واحدة.
