The Chinese Yuan faces the likeliness of extra pullbacks, noted Analysts at Danske Bank. Key Quotes “Mounting trade tensions between the US and China have put downward pressure on the CNY and the risk of continued CNY weakness remains”. “China is more vulnerable than the US in the short term, as its economy is already weakening and China is more dependent on exports, while the US enjoys fiscal support and is a more closed economy”. “We expect pressure on the Chinese economy to lead to further easing by the People’s Bank of China and emphasise the risk of outflows also picking up, supporting the case for a weaker CNY”. “We revised our USD/CNY and EUR/CNY forecasts higher to target USD/CNY at 6.70 in 12M and EUR/CNY at 8.38 in 12M. While we maintain these here, we stress that risks remain skewed towards a significantly weaker CNY than incorporated in our forecasts”. 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 US growth leadership is set to continue – Westpac FX Street 5 years The Chinese Yuan faces the likeliness of extra pullbacks, noted Analysts at Danske Bank. Key Quotes "Mounting trade tensions between the US and China have put downward pressure on the CNY and the risk of continued CNY weakness remains". "China is more vulnerable than the US in the short term, as its economy is already weakening and China is more dependent on exports, while the US enjoys fiscal support and is a more closed economy". "We expect pressure on the Chinese economy to lead to further easing by the People's Bank of China and emphasise the risk of outflows also… 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.
