By FXEmpire.com
USD/CNY Weekly Fundamental Analysis April 16-20, 2012, Forecast
Analysis and Recommendations:
The USD/CNYended the week at 6.2983 down from a high of 6.3236. The yuan fell against the dollar in early week trading as disappointing data was released from China last Sunday showing a slowdown in orders and production. By midweek, the yuan had regained strength against the USD, until Chinese GDP figures were released early Friday morning. The USD regained some strength until late Friday when the US disappointed investors with a drop in consumer confidence and a rise in inflation. The Chinese currency was able to pick up some steam. The yuan moved from a low of 6.3088 to close the week at 6.2983
|
Date |
Last |
Open |
High |
Low |
Change % |
|
04/13/2012 |
6.2983 |
6.3068 |
6.3088 |
6.2913 |
-0.13% |
|
04/12/2012 |
6.3068 |
6.3078 |
6.3236 |
6.2984 |
-0.02% |
|
04/11/2012 |
6.3078 |
6.3105 |
6.3123 |
6.3027 |
-0.04% |
|
04/10/2012 |
6.3105 |
6.3077 |
6.3122 |
6.3060 |
0.04% |
|
04/09/2012 |
6.3077 |
6.3075 |
6.3103 |
6.3036 |
0.00% |
Major Economic Events for the past week actual v. forecast
|
Apr. 09 |
CNY |
Chinese CPI (YoY) |
3.6% |
3.3% |
3.2% |
|
Apr. 10 |
USD |
Fed Chairman Bernanke Speaks |
|||
|
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
|
|
JPY |
BoJ Press Conference |
||||
|
Apr. 12 |
Trade Balance |
0.3B |
2.0B |
2.0B |
|
|
USD |
Trade Balance |
-46.0B |
-52.0B |
-52.5B |
|
|
USD |
Initial Jobless Claims |
380K |
355K |
367K |
|
|
Apr. 13 |
CNY |
Chinese GDP (YoY) |
8.1% |
8.3% |
8.9% |
|
USD |
Core CPI (MoM) |
0.2% |
0.2% |
0.1% |
|
|
USD |
CPI (MoM) |
0.3% |
0.3% |
0.4% |
Economic Highlights of the coming week that affect the Yen, the Aussie, the Kiwi and the Chinese Yuan
|
Apr. 17 |
05:30 |
JPY |
Industrial Production (MoM) |
-1.2% |
|
Apr. 18 |
23:45 |
NZD |
CPI (QoQ) |
-0.3% |
Economic Highlights of the coming week that affect the US Dollar
|
Apr. 16 |
13:30 |
USD |
Core Retail Sales (MoM) |
0.6% |
0.9% |
|
13:30 |
USD |
Retail Sales (MoM) |
0.4% |
1.1% |
|
|
13:30 |
USD |
NY Empire State Manufacturing Index |
21.1 |
20.2 |
|
|
14:00 |
USD |
TIC Net Long-Term Transactions |
101.0B |
||
|
Apr. 17 |
13:30 |
USD |
Building Permits |
0.71M |
0.71M |
|
13:30 |
USD |
Housing Starts |
0.70M |
0.70M |
|
|
14:15 |
USD |
Industrial Production (MoM) |
0.5% |
Originally posted here
