10 Oct 2017
Buy dips in EUR/CNH, turn constructive on AUD/CNH - ANZ
Irene Cheung, Research Analyst at ANZ expects the PBoC to proactively keep USD/CNY (and USD/CNH) in a broad trading range in the run-up to and throughout the 19th Party Congress.
Key Quotes
“We remain constructive on EUR/CNH and see the current retracement as a buying opportunity.”
“We turn positive on AUD/CNH as we expect the RBA to hike rates in 2018. Buy dips. Meanwhile, we expect SGD/CNH and NZD/CNH to continue to range trade.”