AUDUSD: China’s Devaluation Decision Docks Aussie | Forex Factory

  • AUDUSD: China’s Devaluation Decision Docks Aussie

    From forex.com

    As they pulled up their morning news feeds and charts, many US traders received a big jolt upon seeing the latest moves by the People’s Bank of China (PBOC). The central bank for the world’s second largest economy set the value of the renminbi fully 1.9% lower, shattering the idyllic stasis that had kept USD/CNH pinned in a tight 6.19- 6.22 range for nearly five full months. Tonight’s one-off move was the biggest devaluation by Chinese authorities since the advent of China’s modern exchange rate regime in 1994. In our view, the decision stemmed from two proximate catalysts: 1) Abysmal Economic Data Over the ... (full story)

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jegas
Aug 11, 2015 8:13am
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In Coming Days Yuvan Kick Down the Aussie $ ,because so many -ve Data's & Matters are coming from China ,Wait & See.
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Manudatinh
Aug 11, 2015 12:08pm
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Quoting wildbill2u
The Chinese debacle will continue to downgrade the Aussie. Stalled out for now at .7287/97, but this is just a pause for breath.
Agreed! 😎😎😎
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wildbill2u
Aug 11, 2015 9:44am
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The Chinese debacle will continue to downgrade the Aussie. Stalled out for now at .7287/97, but this is just a pause for breath.
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Trader#5CDE
Aug 11, 2015 7:30pm
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it Docks the Singapore Dollar even more.
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