12 August 2015
The main newsmaker of the day is China: NBC conducted the greatest yuan devaluation over the past 20 years and reduced the reference rate of China more than by 3% for the last two days. How have already the yuan weakening affected the markets, and what to expect?
Alexander Goryachev, the analyst of FreshForex company :
"Nothing to surprise that the first "victim” of the yuan devaluation became the Australian dollar, which lost 1.3% in the value. The Brent oil made the fast spike above 51.60 but less than in an hour the price dropped back below 51.00.
What to expect? The weakening of the Chinese currency could have an important influence on the policy of the Fed. The dollar settle due to the yuan devaluation reduces the chances of the rate hike which is expected before the end of 2015 ".
Within the news from China the volatility of metals and currency pairs increased and it means the "golden time" for active traders. Use the FreshForex bonus of 35% and get a safety chance to earn on the yuan devaluation!
Wish you good luck in trading!
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