MIXED NEW ECONOMIC DATA – MOMO BUYS BUT ALGOS LIKELY READY TO SELL – CHINA’S RED LINE
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
China’s Red Line
Investors need to pay attention to the depreciation of the Chinese currency yuan. As of this writing, yuan is touching 7.14 against the dollar. In The Arora Report analysis, 7.15 is likely the red line of People’s Bank of China.
Depending on how China reacts, it can potentially have a significant impact on the US stock market.
Mixed New Data
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).… Please click here or the title below to read more.
September 15, 2022