China Keeps Loan Prime Rates Unchanged As Expectedfxcue.com

(fxcue news) - The People's Bank of China left its benchmark lending rates unchanged on Wednesday as it monitor the impact of recent policy adjustments. The PBoC maintained its one-year loan prime rate at 3.10 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.60 percent. The bank had cut its both LPRs by 25 basis points each in October. The PBoC fixes the LPR monthly based on the submission of 18 designated banks. However, Beijing has influence over the fixing. The LPR replaced the traditional benchmark lending rate in August 2019. Earlier in a note, economists at Capital Economics said the PBoC rarely does back-to-back rate cuts and is likely to monitor the impact of its recent policy changes before making any further adjustments. Moreover, policymakers will attempt to reduce additional downward pressure on the renminbi. "Although a weak currency doesn't preclude PBOC rate cuts, it does make them less likely, especially now that the economy has regained some momentum, reducing the urgency behind monetary easing," economists said. Last month, PBoC Governor Pan Gongsheng said the central bank could further lower key rates and reserve requirement ratio before the year-end. Earlier this month, the Ministry of Finance approved a CNY 10 trillion fiscal package to bolster economic growth. The package was intended to refinance debt of local governments.

China Keeps Loan Prime Rates Unchanged As Expected

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China Keeps Loan Prime Rates Unchanged As Expected

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Trader

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

Spot silver can be bought long at the position of 30.2 today, with a stop loss set at 30. The target is first to look at 30.5 and 30.7, and if a break can be achieved, the target can be further focused on 30.9 and 31.2.

Spot gold trading recommendation for today's operation is to short one near 2650-2648, with a stop loss of 2656 and a target of 2640-2635. Buy one more time on the first retracement of 2620-2622, stop loss at 2615, target around 2635-2645.

Profit from gold trading

Profit from selling foreign exchange gold orders

Sell directly near gold 2630, targeting 2616-2608-2598; If sold in batches at four o'clock on 2633, 2637, 2642, and 2650; If it is given around 2616, 2608, and 2598 for the first time, it can be bought;

Gold intraday strategy: Buy near 2626-2629 Stop loss 2620 Target 2645

Tags

China Keeps Loan Prime Rates Unchanged As Expected

Taiwan Stock Market May Extend Wednesday's Losses

Investors are seeking safe haven, gold prices hit a new high in a week, and Russia's latest measures to limit the decline in oil prices

Short term trading strategies for major currencies on November 21st

Worries over the Russia Ukraine situation envelop the market, with gold prices rising for three consecutive days! Or pointing to the middle track of the Bollinger Bands

Dollar Turns In Mixed Performance Against Major Counterparts

Commodity Currencies Rise Against Majors

China Keeps Loan Prime Rates Unchanged As Expected

Japan Has Y461.2 Billion Trade Shortfall

Please sign in

Trader

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

Spot silver can be bought long at the position of 30.2 today, with a stop loss set at 30. The target is first to look at 30.5 and 30.7, and if a break can be achieved, the target can be further focused on 30.9 and 31.2.

Spot gold trading recommendation for today's operation is to short one near 2650-2648, with a stop loss of 2656 and a target of 2640-2635. Buy one more time on the first retracement of 2620-2622, stop loss at 2615, target around 2635-2645.

Profit from gold trading

Profit from selling foreign exchange gold orders

Sell directly near gold 2630, targeting 2616-2608-2598; If sold in batches at four o'clock on 2633, 2637, 2642, and 2650; If it is given around 2616, 2608, and 2598 for the first time, it can be bought;

Gold intraday strategy: Buy near 2626-2629 Stop loss 2620 Target 2645

Tags

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