USD/CNY to breach historical highs and end the year at 7.60 – SocGen

Market news

23 August 2023

USD/CNY to breach historical highs and end the year at 7.60 – SocGen

Economists at Société Générale make an upward revision to USD/CNY.

An arduous march to 7.60 by the end of 2023

We revise up our year-end USD/CNY forecast by 0.20 to 7.60.

The policy response, seemingly less organised than in the past, should pave the way for the USD/CNY pair to overshoot rather than undershoot for the remainder of the year.

The current CNY weakness is fundamentally driven and the impact of the PBoC’s stronger fixing is not likely to be effective this time around.

USD/MXN in freefall for fifth straight day as US PMIs weaken

USD/JPY slides further below 145.00 after US data

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.