USD/CNH to move towards 7.45 by year-end – Societe Generale
Source Fxstreet
Third Plenum meeting is going to happen next week. The discussion around reviving the property market and consumer sentiment will be its main topic, Societe Generale FX strategists note.
Retreat from 7.30 for USD/CNH may be short-lived
“Soft inflation data in China overnight reinforces our view that consumer sentiment in the mainland economy remains weak.”
“The discussion around reviving the property market and consumer sentiment will be the main topic at the Third Plenum meeting next week.”
“The consequences of subdued economic growth means the retreat from 7.30 for USD/CNH may be short-lived. Our EM colleagues pencil appreciation of the pair towards 7.45 by year-end.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Impacted by signs of easing geopolitical risks in the Middle East, international gold prices (XAUUSD) rebounded sharply after previously falling to the $4,100 level, at one point climbing
As U.S. President Trump once again signaled a de-escalation of tensions in the Middle East, global markets swiftly entered "TACO trade" mode: risk assets rallied, safe-haven assets retrea
WTI rises back above mid-$90.00s amid Middle East tensions and supply risksWest Texas Intermediate (WTI) Crude Oil prices gain traction in Asian trading Tuesday, building on Monday’s rebound from the $84.00 mark, a near two-week low. The commodity climbs above the mid-$90.00s, supported by supply fears.
West Texas Intermediate (WTI) Crude Oil prices gain traction in Asian trading Tuesday, building on Monday’s rebound from the $84.00 mark, a near two-week low. The commodity climbs above the mid-$90.00s, supported by supply fears.
At 3:21 AM Beijing time during the Asian trading session, Spot gold (XAUUSD) fell nearly 9% intraday, at one point dropping below the $4,100 per ounce mark. This not only erased all gains
Iran’s Islamic Revolutionary Guard Corps (IRGC) said that it will completely shut the strait if US President Donald Trump proceeds with his threats to target Iranian energy facilities, the Guardian reported on Monday.
