Hang Seng Index: Potential currency war may kick start another bearish leg
Heightened risk of currency war may trigger further Chinese yuan weakness which in turn adds downside pressure on Hang Seng Index
Source: marketpulse.com
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A dovish Fed guidance may not reverse the rout in China and Hong Kong stock markets
Hang Seng Index at risk of further decline despite a weaker US dollar environment, next supports to watch at 15,000 and 14,600
Source: marketpulse.com
Hang Seng Index: Fed's dovish pivot provides a temporary breather
Hang Seng Index may see a relief rebound due to Fed's dovish pivot but major downtrend phase remains intact
Source: marketpulse.com
Hang Seng Index Technical: Minor Uptrend Intact
The Hong Kong 33 Index (a proxy for the Hang Seng Index futures) has staged the expected bullish breakout and almost met the first resistance of 20,300 as it rallied by +5% from 9 June to an intraday high of 20,205 last Friday, 16 June in light of a shift in the China central bank, PBoC conservative targeted monetary policy stance to a more accommodating approach as it cut 3 key interest rates within two weeks; 7-day reverse repos, 1-year medium-term lending facility, and the 1-year & 5-year loan prime rates today, 20 June that are being used to price corporates/consumer loans and mortgage...
Source: actionforex.com
Hang Seng Index Technical: Minor uptrend intact
Hang Seng Index has dropped by -2.4% since Monday as interest rate cuts by China central bank, PBoC has been fully priced in.
Source: marketpulse.com