The "fade" deal
업데이트됨
Here we can see the tight range we have been trading since Feb. It is clear that volatility across the FX board has faded, notably in JPY and KRW.
With that said, I believe the downside to owning CNH is becoming very limited and its highly likely authorities will step in to stabilise the CNH to keep a stronger currency.
If we look ahead in the macro calendar this week, Credit growth, CPI and trade balances are all out and I share a more bullish view than market expectations for the prints.
I am recommending USDCNH sells with a structural bullish view on CNH strengthening in trade weighted basket terms.
The risk to my thesis is a downside surprise in Chinese data... let's see how it goes. Best of luck all those positioning or already loaded.
With that said, I believe the downside to owning CNH is becoming very limited and its highly likely authorities will step in to stabilise the CNH to keep a stronger currency.
If we look ahead in the macro calendar this week, Credit growth, CPI and trade balances are all out and I share a more bullish view than market expectations for the prints.
I am recommending USDCNH sells with a structural bullish view on CNH strengthening in trade weighted basket terms.
The risk to my thesis is a downside surprise in Chinese data... let's see how it goes. Best of luck all those positioning or already loaded.
거래청산: 스탑 닿음
A tweet was enough to clear the stops here.
관련 발행물
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.