CNY: Key Reports Coming Up

NBS will release the China’s February CPI and PPI reports on March 08. Analysts have predicted a decline in the CPI reading. PPI registered 23rd consecutive decline in January. USD/CNY may test 6.175, if February CPI reports miss expectations. Given the way things look, the USD/CNY will likely face two difficult hurdles near 6.175 and 6.217. Being that China is the largest consumer of many commodities in the world, a PPI reading lower than what’s forecasted will be bearish for silver, gold, copper and crude oil. Chinese developments that are positive often cause commodities to rally.

usd/cny

Written by Daniel Elo, Analys for www.EconomicCalendar.com

 

 

 

 

 

 

 

 

 

 

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