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USD/CNY likely to hit 6.90 mark; not much volatility seen ahead of G-20 meeting, says Commerzbank

The USD/CNY currency pair is expected to hit the 6.90 mark, although not much of a volatility is likely to be seen ahead of the G20 meeting in Osaka, Japan, according to the latest research report from Commerzbank.

It is reported that the US will delay new tariffs on the remaining USD300 billion worth of Chinese goods, as the two nations are preparing to resume the trade talks after the G20 meeting. The decision could be announced following the Trump-Xi summit.

Nonetheless, the US is unlikely to fulfil China's demand to remove the existing tariffs before the new talks. In the FX market, CNY got a hit yesterday as three Chinese banks were reportedly under a probe by the US regarding possible breaches on North Korea sanctions.

Meanwhile, the three banks involved all issued statements yesterday afternoon saying that they were not under investigation for sanctions violations.

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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Previous

48.6 %

January 31 00:00 UTC 776046776046m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 776046776046m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 787866787866m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 776046776046m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 787866787866m

ARTrade Balance

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Previous

-1541 %

January 31 00:00 UTC 776046776046m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 776046776046m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 776046776046m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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