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USD/CNY to move higher during H2 – Danske Bank

USD/CNY to move higher during H2 – Danske Bank
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What does the PBOC's dovish shift mean for metal prices?


What does the PBOC’s dovish shift mean for metal prices?
Tony Sycamore
July 13, 2021 2:15 AM
Fiscal, stimulus, ultra-low interest rates, global infrastructure projects as well as inflation fears propelled metal prices higher. In this article, we will review what comes next for key metal prices following last week s dovish shift by the PBOC.
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China overview:
Events in China play a critical role in determining the price of base metals, both in the short term and the long term. This is because China accounts for 50-60% of base metals demand and around 73% of the world s iron ore imports.
China’s credit impulse turned negative towards the end of 2020 as policymakers emphasised the need for more “prudent” policy and to minimise financial risks. The slowdown in credit momentum along with officials “j ....

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S&P 500 Hits Fresh Record, Will China's RRR Cut Boost Hang Seng?


S&P 500 Hits Fresh Record, Will China s RRR Cut Boost Hang Seng?
S&P 500, HANG SENG INDEX, ASX 200 OUTLOOK:
Investors anticipate a strong Q2 earnings season, boosting sentiment. Treasuries fell
China’s central bank unexpectedly cut the Reserve Requirement Ratio (RRR) for all banks
Earnings, RRR Cut, China GDP, US Core Inflation, Asia-Pacific Week-Ahead:
The S&P 500 index hit an all-time high on Friday as investors shrugged off concerns about the Delta variant and focused on the upcoming earnings season. The estimated earnings growth rate for the S&P 500 index in Q2 is expected to hit 64% YoY, marking the fastest expansion in more than a decade. Analysts have revised up their earnings forecasts from March to June as the economic recovery gathers pace. More blue chip companies have issued positive EPS guidance than those that issued negative outlook, according to data compiled by Factset. ....

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