[Bobalu]

Counting their chickens before they hatch.....

[doc maverick]

Covid didn’t kill Trump so maybe they caught wind of another arrow being launched at him by Pelosi

[ConservativeInPA]

I am writing this post as I am trading currencies. That is what I do for a living. I don't trade USD/CNH because it is highly manipulated by big banks or it goes through periods where there is little price movement. Most forex pairs with the USD are manipulated, but at least with the majors/crosses (EUR, GBP, CHF, CAD, AUD, NZD) the manipulation by big banks is survivable and even profitable if you know what you are doing.

Understand the following about forex: 1.) There is no true supply and demand as there is in equities. 2.) These are fiat currencies that are not backed with an underlying tangible asset (i.e., if you trade WTI futures, there's actually oil underlying the futures). 3.) In forex, big banks drive price when and where they want. 4.) News, economics, elections and world events mean little to big banks in the short-term other than opportunity to make money. These events establish client sentiment - that is small investor's and trader's positions. Once those positions are in place, big banks go stop hunting and take out the little guys and then the banks drive price in the opposite direction.

Moral of the story - the current price of USD/CNH means nothing, just as the current price of any forex pair. You need to look at the long-term (months) to extract anything fundamental about the market.