Chinese Yuan … decline continuing?

Per Bloomberg.com a couple hours ago:

China’s one-year interest-rate swaps completed the biggest weekly drop in four months after the central bank cut borrowing costs and stopped draining funds in open-market operations.

The People’s Bank of China reduced its benchmark rates for the first time since 2012 a week ago, supporting growth in an economy set for the slowest full-year expansion in two decades. Yesterday’s auction window was the first since July that the monetary authority didn’t offer repurchase agreements at, and maturing contracts added a net 35 billion yuan ($5.7 billion) to the financial system this week, the most since August.

 

Chinese Yuan Pattern Complete
Chinese Yuan Pattern Complete

watch this … closely.

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

4 thoughts on “Chinese Yuan … decline continuing?”

    1. too much turkey… YOU are correct. Sorry … probably too much red also. either way, an advance from in/around here is one of those not talked about BUT very big deals – IMHumbleO. THANK you for correcting me … rock on, ok?

  1. Was the turkey basted in Jack Daniels?

    Phew. I’ve been commenting on Yuan weakening for months and I thought I might have been wrong for months. Chinese following Japanese in debasing. Exporting deflation.

    NB Looks like JPY may be bottoming here for a while…

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