USD/CNH: Downside risks look alleviated - UOB

Market news

7 October 2021

USD/CNH: Downside risks look alleviated - UOB

FXStreet reports that FX Strategists at UOB Group see USD/CNH is now sticking to the 6.4240/6.4800 range in the next weeks.

24-hour view: “USD popped to a high of 6.4704 before dropping back down to end the day slightly higher at 6.4550 (+0.09%). The relatively choppy price actions have resulted in a mixed outlook. For today, USD could trade between 6.4460 and 6.4660.”

Next 1-3 weeks: “There is not much to add to our update from yesterday (06 Oct, spot at 6.4500). As highlighted, the recent downside risk has dissipated and USD is likely to trade between 6.4240 and 6.4800 for a period of time.”

GBP/USD: Upside remains corrective only - Commerzbank

ECB's Governing Council member Stournaras: Investors shouldn’t expect premature interest-rate increases from ECB as it plots its exit from pandemic stimulus, - Bloomberg TV

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.