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Fundamental Analysis
Navigation FX - Asian Session Wrap
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[QUOTE="Navigation FX, post: 119111, member: 39595"] [SIZE=6][B]ASIAN SESSION WRAP CHINA – 13TH JANUARY 2017[/B][/SIZE] Peoples Bank of China (PBOC) sets USD/CNY at 6.8909. Thursday at 6.9141. [B]TRADE BALANCE[/B] [LIST] [*]Trade Balance (USD) Dec: 40.82B vs. 46.50B exp. Previous 44.61B [*]Exports (YoY) Dec: -6.1% vs. -3.5% exp. Previous 0.1% [*]Imports (YoY) Dec: 3.1% vs. 2.7% exp. Previous 6.7% [/LIST] The numbers were not that great, with exports down significantly. Chinese customs said that the foreign trade issue still faces difficulties. Exports and imports however had risen in Q4. Trade also had a mild recovery in Q4, with trade stabalising and improving throughout 2016. Chinese coal imports were up 50% in December than a year ago (25.2% increase y/y), with the country stockpiling for the winter. Iron ore was down -8.8% y/y in December. Chinese customs continued to say that; [LIST] [*]The new US president may add trade protectionist measures, which may limit growth of China’s exports [*]China’s economy can handle increased challenges to foreign trade. The challenges that China will look to face in foreign trade are not short-term [*]China strongly opposed trade protectionism [*]China will be watching Trump’s trade policy very closely [/LIST] [B]PBOC CONTINUES TO INJECT[/B] [LIST] [*]10B Yuan in 7-day reverse repos [*]60B Yuan in 28-day reverse repos [/LIST] This week PBOC drained a net of 100B Yuan from the money markets through OMO’s. With last week standing at 595B Yuan. [/QUOTE]
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