(VIANEWS) – USD/CNH (USDCNH) has been up by 1.76% for the last 10 sessions. At 03:07 EST on Tuesday, 6 February, USD/CNH (USDCNH) is $7.20.
USD/CNH’s yearly highs and lows, it’s 0.082% up from its 52-week low and 0.26% down from its 52-week high.
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- Eur/usd languishes near YTD low as traders continue to trim fed rate cut bets. According to FXStreet on Monday, 5 February, "The EUR/USD pair remains under heavy selling pressure for the second straight day on Monday and drops to a fresh YTD low, around mid-1.0700s during the first half of the European session. ", "This is seen as another factor dragging the EUR/USD pair lower and supports prospects for deeper losses."
- Eur/usd analysis: downward trend gains strength – 05 February 2024. According to DailyForex on Monday, 5 February, "According to ING Bank forecasts, "We see no sufficient reason to change our view that the EUR/USD pair continues to trade near the 1.08 support during most of this quarter, before rising during the second quarter when it becomes clear that a Fed rate cut is imminent." Also, ING noted the importance of inflation data with the next consumer price report scheduled for February 13 and record revisions on February 9. ", "Bank expectations for the EUR/USD rate: According to ING Bank, a decisive breakout of the 1.0790-1.0800 range opens the way for the 1.0715/25 support areas. "
- Eur/usd price analysis: holds below 1.0800 ahead of German, eurozone services PMI data. According to FXStreet on Monday, 5 February, " On the flip side, the first support level for EUR/USD is located near the lower limit of the Bollinger Band at 1.0752. ", "The hawkish remarks from Federal Reserve (Fed)Chairman Jerome Powellprovide some support to the US Dollar (USD) and exert some selling pressure on the EUR/USD pair. "
- According to DailyForex on Monday, 5 February, "Within the current market dynamics, it is highly probable that the EUR/USD pair will continue to fluctuate within this particular range. ", "Traders may consider using the EUR/USD pair as an indicator for developments related to the US dollar rather than as a direct reflection of the European economic situation. "
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