AUD/CNY has mostly been driven by the broad swings in AUD/USD this year, but so far in November, the aussie has outperformed a wide range of Asian currencies, including the yuan. Economists at Westpac forecast the pair at 4.95 by the end of the year. Key quotes “The RBA has made clear that the cash rate won’t rise for at least 3 years and yields along the curve should remain historically low. In contrast, China’s benchmark 1-year loan rate has been 3.85% since April. The inclusion of China government bonds in key indexes adds to the fixed income demand for CNY.” “The yuan is supported by international border closures, which shrink China’s services deficit as outbound tourism and business travel is curtailed.” “AUD remains a high beta play against USD which we expect to be under pressure into 2021 as the Fed struggles to compensate for inadequate fiscal support. Moreover, vaccine news should continue to bolster equities, helping risk-sensitive AUD return to CNY 4.95 by year-end.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD holds steady above $1865 level, lacks follow-through FX Street 2 years AUD/CNY has mostly been driven by the broad swings in AUD/USD this year, but so far in November, the aussie has outperformed a wide range of Asian currencies, including the yuan. Economists at Westpac forecast the pair at 4.95 by the end of the year. Key quotes “The RBA has made clear that the cash rate won’t rise for at least 3 years and yields along the curve should remain historically low. In contrast, China’s benchmark 1-year loan rate has been 3.85% since April. The inclusion of China government bonds in key indexes adds to the fixed income demand for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
