USD/CNY to fall below 7.00 in the latter part of 2024 – Commerzbank

Market news

16 November 2023

USD/CNY to fall below 7.00 in the latter part of 2024 – Commerzbank

The Yuan has been under pressure amid China’s weak economic outlook. Economists at Commerzbank analyze USD/CNY outlook.

Pressure persists into 2024

CNY will likely remain under pressure before economic data show that China’s growth momentum stabilizes and gains a firmer footing.

We expect the USD/CN pair to continue to stay at around 7.30 in the near term and CNY will remain weak for some time ahead.

Longer out, we expect USD/CNY to fall below 7.00 in the latter part of 2024 due to the expectation of a softer USD as we anticipate the Fed to cut its key interest rate next year.

Gold Futures: Recovery could extend further

Philippines BSP Interest rate decision in line with expectations (6.5)

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.