• USD/CNY: Unlikely to go below 7.0000 in 2024 – TDS

Noticias del mercado

19 enero 2024

USD/CNY: Unlikely to go below 7.0000 in 2024 – TDS

Chinese Yuan (CNY) likely to tread water in 2024, analysts at TD Securities say.

Onshore firms still rather sell the CNY and keep to USD

China's murky economic outlook isn't favourable for the Yuan and we expect the inflows registered over Nov/Dec to reverse.

Onshore firms still rather sell the yuan and hold USD despite USD weakness late last year and hints of their medium-term bearish view on the currency. 

More pressure on the RMB is expected as outbound China travel picks up, evident from the jump in FX sales (services). As such, we don't expect USD/CNY to go below 7.0000 in 2024 despite our bearish USD view this year.

 

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: