EURNOK USDCNH Views: FXWW

From the FXWW Chatroom – CIBC: short EUR/NOK at market (9.9300) to target 9.59 with s/l at 10.11
The NOK appears to be well positioned to benefit from the improvement in risk-tone. Recent data has been supportive – with July inflation partially surprising to the topside. The Norges Bank meeting on Thursday should re-affirm that a rate hike is expected for Q4

BAML: CNH Trader Cyrus Tai likes to buy on dips for USDCNH and expect market will hold a spot range of 7.00-7.06 for the time being. However Co-head of APAC FX Strategy Adarsh Sinha points out that delaying the tariffs on half the goods increases the probability that the tariffs on the remainder will go ahead on 1 Sep (in fact very likely now). So can’t imagine China will view this as a meaningful concession. Latest headlines from China says that officials are still planning to visit Washington DC in Sept for the next round of face to face talks.

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