News | Forex Optimum

News

News

USD/CNY to oscillate between 6.70 and 6.90 in the near-term – MUFG

FXStreet reports that China recovery progress and the market’s risk appetite will push-and-pull USD/CNY, which is likely to move within the 6.70-6.90 range in the short-term, according to economists ta MUFG Bank

“Autumn has arrived, and the challenges ahead are heavy, but the most challenging time is over. Currently, some countries are struggling to balance COVID-19 countermeasures and everyday activities. China’s COVID-19 situation and economic environment have been continuously improving since this summer.”

“On the one hand, the market is more optimistic about China’s economic prospects. On the other hand, however, the fog on the RMB’s path has become denser as the global risk-on sentiment cooled off toward the end of September.” 

“We forecast the USD/CNY is likely to trade between 6.70 and 6.90 in the near-term.”

You may also be interested:

05:30 02.12.2020
Commodities. Daily history for Tuesday, December 1, 2020
Raw materials Closed Change, % Brent 47.18 -1.19
03:30 02.12.2020
Stocks. Daily history for Tuesday, December 1, 2020
Index Change, points Closed Change, % NIKKEI 225 353.92 26787.54
03:30 02.12.2020
Schedule for today, Wednesday, December 2, 2020
Time Country Event Period Previous value Forecast 00:00 (GMT) Australia RBA's Governor Philip Lowe Speaks
Deposit
options
Trading
platform
download
Bonuses VIP