{"id":16761,"date":"2018-07-27T01:22:19","date_gmt":"2018-07-27T01:22:19","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16761"},"modified":"2018-07-27T01:22:19","modified_gmt":"2018-07-27T01:22:19","slug":"falling-yuan-strengthens-the-dollar-but-weakens-gold","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/","title":{"rendered":"Falling Yuan strengthens the Dollar but weakens Gold"},"content":{"rendered":"<p>China failed to intervene in the past few weeks,\u00a0allowing the Yuan to fall to offset the impact of tariffs instead of selling foreign reserves to support the currency. Their actions risk further retaliation by the Trump administration and could spark a full-blown trade war.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-cny.png?w=525&#038;ssl=1\" alt=\"CNY\/USD\" \/><\/p>\n<p>A weakening Yuan is likely to increase demand for US Dollars, both as investors in the Middle Kingdom seek to withdraw and as borrowers with USD-denominated loans seek to hedge or repay.<\/p>\n<p>The Dollar Index continues to test strong resistance at 95. Breakout is likely and would offer a target of 2016\/2017 highs at 103.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-dxy.png?w=525&#038;ssl=1\" alt=\"Dollar Index\" \/><\/p>\n<p>Spot Gold is in a primary down-trend, consolidating in a narrow band above short-term support at $1220\/ounce. Breach of support is likely and would offer a short-term target of $1200.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-gold-dy.png?w=525&#038;ssl=1\" alt=\"Spot Gold in USD\" \/><\/p>\n<p>The Australian Dollar is also in a primary down-trend, consolidating above 73.50 US cents. So far, the weaker currency has cushioned local gold miners from the impact of falling spot prices.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-audusd.png?w=525&#038;ssl=1\" alt=\"Australian Dollar\/USD\" \/><\/p>\n<p>The All Ordinaries Gold Index (XGD) recovered above support at 4950. Follow-through above 5100 would indicate another test of 5400.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n<p>But downside risk to Australian gold stocks is rising as the USD spot price falls. Gold is more volatile than the Aussie Dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China failed to intervene in the past few weeks,\u00a0allowing the Yuan to fall to offset the impact of tariffs instead of selling foreign reserves to support the currency. Their actions risk further retaliation by the Trump administration and could spark a full-blown trade war. A weakening Yuan is likely to increase demand for US Dollars, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Falling Yuan strengthens the Dollar but weakens Gold&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,42,9,34,35],"tags":[166,292,1073,3204,3731],"class_list":["post-16761","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-chinese-yuan","category-gold-precious-metals","category-us-canada-countries-regions","category-us-dollar-index","tag-all-ordinaries-gold-index","tag-australian-dollar","tag-dollar-index","tag-spot-gold","tag-yuan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Falling Yuan strengthens the Dollar but weakens Gold - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Falling Yuan strengthens the Dollar but weakens Gold - the patient investor\" \/>\n<meta property=\"og:description\" content=\"China failed to intervene in the past few weeks,\u00a0allowing the Yuan to fall to offset the impact of tariffs instead of selling foreign reserves to support the currency. Their actions risk further retaliation by the Trump administration and could spark a full-blown trade war. A weakening Yuan is likely to increase demand for US Dollars, &hellip; Continue reading &quot;Falling Yuan strengthens the Dollar but weakens Gold&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-27T01:22:19+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-07-27-cny.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Falling Yuan strengthens the Dollar but weakens Gold\",\"datePublished\":\"2018-07-27T01:22:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\"},\"wordCount\":204,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-27-cny.png\",\"keywords\":[\"All Ordinaries Gold Index\",\"Australian Dollar\",\"Dollar Index\",\"Spot Gold\",\"yuan\"],\"articleSection\":[\"Australia &amp; NZ\",\"Chinese Yuan\",\"Gold &amp; Precious Metals\",\"US &amp; Canada\",\"US Dollar Index\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\",\"name\":\"Falling Yuan strengthens the Dollar but weakens Gold - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-27-cny.png\",\"datePublished\":\"2018-07-27T01:22:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-27-cny.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-27-cny.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Falling Yuan strengthens the Dollar but weakens Gold\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4ml","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16524,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/06\/gold-dollar-and-the-yuan\/","url_meta":{"origin":16761,"position":0},"title":"Gold, Dollar and the Yuan","author":"Colin Twiggs","date":"July 6, 2018","format":false,"excerpt":"China's Yuan fell sharply over the last 3 weeks, with the threat of US trade tariffs. Risk of capital flight will force the PBOC to sell foreign reserves to support the Yuan. It took $1 trillion to stem the last fall, so expect a sizable sell-off in Chinese holdings of\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16790,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/04\/dollar-strength-hurts-aussie-gold-stocks\/","url_meta":{"origin":16761,"position":1},"title":"Dollar strength hurts Aussie gold stocks","author":"Colin Twiggs","date":"August 4, 2018","format":false,"excerpt":"China's Yuan continues its steep descent against the US Dollar. The weakening Yuan strengthened demand for Dollars, with the Dollar Index breaking through strong resistance at 95. Expect retracement to test the new support level. Respect would confirm the long-term target at the 2016\/2017 highs of 103. The strong Dollar\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17197,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/20\/gold-bear-rally-boosts-aussie-miners\/","url_meta":{"origin":16761,"position":2},"title":"Gold bear rally boosts Aussie miners","author":"Colin Twiggs","date":"October 20, 2018","format":false,"excerpt":"China's Yuan broke support at 14.50, warning of another decline. A weaker Yuan is likely to lead to Dollar strength. The Dollar Index respected support at 94 and follow-through above 96 would confirm another advance. A strengthening Dollar would weaken demand for Gold. Gold broke resistance at $1210\/ounce, commencing a\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16821,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/10\/no-silver-lining-for-gold-stocks\/","url_meta":{"origin":16761,"position":3},"title":"No Silver lining for Gold stocks","author":"Colin Twiggs","date":"August 10, 2018","format":false,"excerpt":"A long-term chart shows Silver broke support at $16\/ounce and is headed for a test of its 2015 low at $14. Silver is more volatile but often indicates, ahead of Gold, the direction of the two precious metals. At present that suggests Gold is likely to test its 2015 low\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18222,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/17\/gold-retreats-as-the-dollar-strengthens\/","url_meta":{"origin":16761,"position":4},"title":"Gold retreats as the Dollar strengthens","author":"Colin Twiggs","date":"May 17, 2019","format":false,"excerpt":"China's Yuan fell sharply against the Dollar on imposition of tariffs by the US. Expect a test of primary support. The Dollar index strengthened. Follow-through above 98 would signal a fresh advance. The long-term target is 100. 10-Year Treasury yields are testing support at 2.40%. Breach would offer a target\u2026","rel":"","context":"In &quot;Chinese Yuan&quot;","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18849,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/10\/gold-correction-likely-as-yuan-finds-support\/","url_meta":{"origin":16761,"position":5},"title":"Gold: Correction likely as Yuan finds support","author":"Colin Twiggs","date":"September 10, 2019","format":false,"excerpt":"The Yuan found short-term support at 0.1395\/0.1400 against the US Dollar. Expect a rally over the next month, with \"talks about talks\" between US and Chinese trade representatives. The Yuan is in a long-term down-trend against the Dollar that shows no signs of easing. Our view is that resolution of\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16761"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16761\/revisions"}],"predecessor-version":[{"id":16762,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16761\/revisions\/16762"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}