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Fed, U.S. dollar likely to be the main driver for USD/CNY over next few weeks, says Commerzbank

The Federal Reserve and the United States dollar is expected to be the main driver for USD/CNY over the next few weeks, according to the latest research report from Commerzbank.

Recent news suggests that the Trump-Xi meeting could be further pulled back to June, which implies that a trade deal is not on the table yet.

Certainly, there are a lot more uncertainties on the trade deal, but the prolonged (probably endless) negotiation also means that the influence of the trade talks on CNY exchange rates will be diminishing for now.

The market is expected to gradually turn the focus to China’s economic health over the foreseeable future, the report added.

Overall Chinese data at the beginning of the year illustrates a rather mixed growth picture: The investment has picked up somewhat with a clear support from the easing measures, but the trade and industrial output data remained weak, reinforcing that the growth outlook looks challenging.

In this case, data released over early April will give a reality check of the soundness of Chinese economy, as well as the effectiveness of China’s policy making, Commerzbank further noted.

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April 18 23:30 UTC Released

JPCPI Less Food and Energy

Actual

101.5 Index

Forecast

Previous

101.4 Index

April 18 23:30 UTC Released

JPNationwide Core CPI YY

Actual

0.3 Percent

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Previous

0.3 Percent

January 31 00:00 UTC 637965637965m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 637965637965m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 649785649785m

ARTrade Balance

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Previous

-1541 %

January 31 00:00 UTC 637965637965m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 649785649785m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 637965637965m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 637965637965m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 637965637965m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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