Personal composite instrument called «&XAUCNH» reflects the price dynamics of Gold against the Yuan. The base part of this instrument is composed of 1 ounce of gold, and the quoted part – 1 Chinese yuan. The asset percentage content of the instrument is estimated on the basis of asset prices on the instrument creation date.
The trading instrument &XAUCNH is used for the analysis and trade of gold quoted against one of the most promising Asian currencies - the Chinese yuan. The CNH is used as a component asset of the instrument, it was introduced into circulation by the Hong Kong Department of currency circulation and the Peoples Bank of China to enable the investors outside the mainland China to raise capital in Chinese currency. The turnover of precious metals, especially gold, historically plays an important role in the economy of China. Most gold trading takes place on the Shanghai Gold Exchange.
|&XAUCNH||№||Asset||Volume / 1 PCI||Percentage||Volume (USD) / 1 PCI||Unit of measurеment|
|Fixed spread, pip||460||460||460|
|Floating Spread, pip||460||460||460|
|Order distance, pip||-||-||-|
|Swap (long/short) in pips on Vol||-4.714 / -14.333||-4.714 / -14.333||-4.714 / -14.333|
|>=10.00||1.00 – 71.13||>=1.00|
|The value of 1 pip in USD for the Vol||0||0||0|
|Week day||Trading hours (CET)||Local trading hours|
|Monday||00:00 — 22:15, 23:00 — 24:00||00:00 — 22:15, 23:00 — 24:00|
|Tuesday||00:00 — 22:15, 23:00 — 24:00||00:00 — 22:15, 23:00 — 24:00|
|Wednesday||00:00 — 22:15, 23:00 — 24:00||00:00 — 22:15, 23:00 — 24:00|
|Thursday||00:00 — 22:15, 23:00 — 24:00||00:00 — 22:15, 23:00 — 24:00|
|Friday||00:00 — 22:00||00:00 — 22:00|
The personal composite trading instrument &XAUCNH is used for trade and dynamics analysis of Gold vs the Yuan, as well as multi-year comparative analysis of Gold vs. USD and Japanese yen. For example, by building a percentage chart (Chart %) in the NetTradeX terminal for three instruments &XAUCNH, XAUUSD and &XAUJPY (Рict. 1), it is evident that two periods stand out in the last five years: from 2010 to 2012, Gold exhibited almost identical dynamics against the three assets; from 2013-2014, Gold against CNH exhibits almost identical decline dynamics as that of XAUUSD, while Gold against JPY varied substantially less.
Traders, whose main assets and investments are denominated in Chinese yuan, will be comfortable trading this PCI.