Yuan Risk Remains Elevated amid US, China Seeking Trade Allies, 1Q GDP

Yuan Risk Remains Elevated amid US, China Seeking Trade Allies, 1Q GDP

Fundamental Forecast for CNH: Neutral

  • China’s Foreign Minister will attend the China-Japan Economic Dialogue in Tokyo, after it suspended for 8-years.
  • China has been strengthening connections with other neighbouring countries since the end of March.
  • China will release 2018’1Q Gross Domestic Product as well as March Fixed Assets Investments.

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The Chinese Yuan rose against the U.S. Dollar this week, easing last week’s losses: Chinese President Xi Jinping touched on a list of topics that the U.S. concerned the most at Boao Forum, from intellectual property rights to tariffs. Although not many brand-new measures were introduced, the move was considered to be a positive signal and welcomed by Trump and the market. In addition, PBOC’s newly-appointed Governor, Yi Gang, told that China will not devalue the Yuan to make up for losses caused by trade conflicts; the PBOC has guided the Yuan stronger over the past week.

Article source: https://www.dailyfx.com/forex/fundamental/article/special_report/2018/04/13/Yuan-Risk-Remains-Elevated-amid-US-China-Seeking-Trade-Allies-1Q-GDP-.html?DFXfeeds=forex:fundamental:article:special_report