The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Supervision of overseas investment risks will be stepped up by China
On Monday, China is about to strengthen its supervision of overseas investment risks as well as capital flows from insurance funds, as the insurance regulator informed on Monday, stressing that it’s about to make businesses improve their risk monitoring systems.
In 2017, China has cracked down on “wrong” overseas investment suspected to be a way of disguising capital flight as the Chinese currency dropped.
While the Chinese Yuan has staged a steep turnaround for the last months and outflows have slumped, the Chinese government has demonstrated no signs of easing the campaign. In August, the state council told that China is on the verge of limiting overseas investment in hotels, property, sports clubs, entertainment as well as film industries.
Some overseas investments have failed because of heightened official scrutiny. The previous month Dalian Wanda Group told that it had confounded plans to purchase Nine Elms Square in London, which is the fresh setback for the Chinese conglomerate.
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.