USD/Chinese Yuan chart – this is what’s causing the most pressure for the stock market, and embodies the ongoing trade war.
The higher the yuan climbs (i.e. weakens against the US dollar) the more pressure it puts on US producers in their efforts to sell their products to the Chinese (it takes more Yuan to buy a US goods).
I’m no expert when it comes to the currencies, but I am pretty darn good at technical analysis, and I have a grasp of what’s driving this market bonkers lately, and as long as the USD/CNH pairing remains this elevated, expect more selling in the US equities.
Here’s the US Dollar/Chinese Yuan:
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