US Dollar | Offshore Chinese Renminbi (USDCNH) - 5 December 2024
You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.
USDCNH - at least a 40 day cycle peak is potentially in place.
USDCNH is being closely watched by macro managers and traders at the moment - USDCNH chart going up is Short renminbi which is a proxy for weak China-led growth (arguably therefore global growth) and a headwind for example for Copper.
Price is still rising out of a counter-trend 40 week cycle trough (end September) and we are looking at the first 80 day cycle today.
