USD/CNH: To continue falling below 7.00 – DBS
Source Fxstreet
USD/CNH should extend its fall below 7.00 following last week’s 0.9% decline to 6.9815. The pair was last seen at 6.9952, DBS FX analyst Philip Wee notes.
Additional fiscal measures are expected
“The CSI 300 Index surged 15.7% last week, its best weekly performance since November 2008, on China’s most significant monetary stimulus package since the Covid-19 pandemic to support the property sector and shore up capital markets.”
“Additional fiscal measures are expected as China seeks to achieve its 5% growth target. An announcement is likely before the National People’s Congress meeting in the second half of October.”
“The US Treasury Department welcomed last week’s stimulus measures but emphasized the need for increased domestic demand over reliance on exports.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver struggles to capitalize on the overnight modest rebound from the $36.20 area, or a nearly four-week low, and trades with a negative bias during the Asian session on Friday.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Gold Price Forecast: XAU/USD opens lower around $4,450 on fears of widening Iran conflictsGold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.
Gold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.
As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter
