Goldman Sachs says to short Chinese yuan ahead of the G20 meeting next week

News

GS note CNH, and
other Asian currencies, strength approaching the G20 meeting next week (June 28
and 29), and are looking to short CNH.

Citing that even if
there is some sort of easing in trade tensions at the G20 they will not
disappear entirely:

  • likely to “ebb and flow”
  • still see additional
    tariffs as “more likely than not”

GS also say yen
looks attractive still (Fed rate cuts, signs of slower US economic
growth to chip away at USD strength). 

Yuan had a good one last week, following the PBOC holding it fairly steady since mid-May  despite market expectations it would fall:

ForexLive

Articles You May Like

EUR/JPY GBP/JPY trade Best Forex Trading System 11 JULY 2019 Review -forex trading systems that work
Video: CAD, the impossible Brexit and my top trade idea right now
EUR/USD: Sellers in control to start the week as focus turns towards the ECB
Heads up: Central bank speakers in the session ahead
2019 Forex Trading Strategy Works In Any Timeframe

Leave a Reply

Your email address will not be published. Required fields are marked *