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An improving Chinese economy & tremors in Argentina amidst a lull in the markets
Are we experiencing a calm before a great raging storm? The Chinese Yuan rebounded from its weakness in the first quarter and reached a four-month high yesterday. USDCNH fell to 6.1820 as the RMB was inspired by the Chinese upbeat economic data released in the weekend. The recent data is showing signs of the Chinese economy gradually recovering and the business confidence has improved. In the mid-term, Chinese Yuan should continue its strength against Dollar. The Aussie Dollar fell from the top of its sideway range implying a continual weakness. The pattern seems to be bearish for the mid-term as the Aussie should ... (full story)