Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Summary: Recently PBOC announced two monetary easing measures together with previous fiscal stimulus package to support economy, which has showed some green shoots. USDCNH/CNY spot is likely to trend lower into 2020 mainly on reduced China-US trade tensions and technical set up.