Phew. Now that that’s over….
The PBOC fixed the Yuan at 6.5656 against the USD today ending an 8 day weakening trend. For reference, yesterdays close was was 6.5929 after setting it at 6.5646
Outcome? Risk awwwwwnn..
Yen is sold off immediately, oil up $1, SP500 futures up 20 points, ASX200 up above 5000.
As Chris Weston at IG puts it:
China fix is like a RBA rate decision every day
— Chris Weston (@ChrisWeston_IG) January 8, 2016
Now we wait the Chinese stock market fix, I mean open. No circuit breakers anymore, they were suspended overnight. So come what may….
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