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Forex Spotlight: USD forming major peaks vs. Yuan and Rand

by WaveTrack International| January 29, 2016 | No Comments

IRP Journal - Issue 9 - Spotlight China

IRP Journal – Issue 9 – Spotlight China

China’s influence on the world economy made recent headlines in a Bloomberg interview with financier and philantropist George Soros. According to Soros (published 17th January 2016 – font page of the Financial Times): “China is the ‘root cause’ for this years global bear market, citing deflation and excessive debt as a key issues. A hard landing for the Chinese economy was ‘practically unavoidable’.” This remark prompted a strong responds from the Chinese government ‘Beijing warns Soros against declaring ‘war on the renminbi’. Read the FT’s shortened online article here:

China mouthpiece warns Soros against shorting renminbi

The term global economy with all its implications becomes now more apparent then ever when we consider that the Chinese Renminbi/Yuan has dropped 5.7 per cent against the USD since last August.

In the light of these recent events Peter Goodburn’s latest forex article on the USD/CNY and the USD/ZAR is especially interesting as he remarks that “China‚Äôs stock market continues to trade lower although the recent accelerative decline is in-line with our annual forecasts (see Stock Index video announcement) and shows the implications of this trend for China’s Renminbi/Yuan -USD/CNY as well as the South African Rand. Download the free IRP Journal here to review the full article and Elliott Wave charts WaveTrack has updated to show an independent view on this development:

IRP Journal – Issue 9

Enjoy and stay tuned for more interesting news one Elliott Wave and Financial Markets…

WaveTrack International

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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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