• EUR/CNY: A pair to follow much more closely in the coming months than it has been for a while – SocGen

Noticias del mercado

18 julio 2023

EUR/CNY: A pair to follow much more closely in the coming months than it has been for a while – SocGen

The Yuan has fallen against all G10FX in the last nine months. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes CNY outlook.

USD/CNY seen at 7.40 at the end of this year

Our forecasts look for USD/CNY at 7.40 at the end of this year, and DXY at 97, which represents an unusual degree of divergence (and the highest EUR/CNY level since 2014). If nothing else, that’s going to make EUR/CNY a pair to follow much more closely in the coming months than it has been for a while. 

The only comforting news on this front so far is that USD/CNY did turn lower at the same time as EUR/USD turned higher again at the start of this month.

 

Enfoque del mercado
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
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: