China's central bank guided the yuan lower on Thursday FX_IDC:CNYUSD.
China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move.
This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend.
It's been in the media?
It's being painted as the bad guy! Well unlike Kim Jong Un Dropping H-Bombs
China will drop some more bombs in the future but it will be devaluaing the Yuan
Yuan is now in the SDR and many countries are going to start adopting more and more.
We see a devaluation to 6.8 maybe slightly further until you will see the yuan gain...
The cryptocurrencies have been back in the news recently, in light of Bitcoins astronomic resurgence. Although it would be naive to believe that any one thing can be the driver behind the 150% increase over the past few months, significant parallels however can be drawn with what has been going on in China.
Now, I don't want to bore you, but for those who don't...
The proof is in the pudding, well it is in the globalized failing of quantitative easing.
Abeconomics is no different. Japan Prime Minister Shinzo Abe will continue to feel pressure as his "three arrows" economic policy fails to push consistent economic expansion.
Japan's economy shrank 1.6 percent on an annualized basis with falling exports and contracting...
- Bullish Cypher has formed. Its parameters are 78.6,61.8,178.6,70.7/78.6 respectively.
- Looks like a head and shoulder will be formed in the future
- MACD and RSI shows indication of no supply
- The big green candles do tell me there's high demand.
- Beware of Parabolic whipsaw
- Use S1 for entry if you missed the 70.7 Fibonacci level