Goldman Sachs says the offshore Yuan (CNH) is unlikely to strengthen much further in the absence of a broader trade deal that rolls back existing tariffs. As a part of the partial deal announced on Friday, the US has only agreed to delay the levy on $250 billion of Chinese goods from the current 25% to 30%. The tariff hike was scheduled to take effect on Oct. 15. Goldman still expects CNH to weaken to 7.20 per US Dollar in three and six months, before recovering to 7.10 in 12 months. Key points Short-lived pauses in trade tensions have in the past given way to renewed escalation rather than a roll-back of the trade war. If anything, disagreements have spread to more dimensions- technology, financial flows, immigration, foreign policy- such that finding ramps to de-escalate is even harder. 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 China September Dollar-denominated imports drop 8.5% FX Street 4 years Goldman Sachs says the offshore Yuan (CNH) is unlikely to strengthen much further in the absence of a broader trade deal that rolls back existing tariffs. As a part of the partial deal announced on Friday, the US has only agreed to delay the levy on $250 billion of Chinese goods from the current 25% to 30%. The tariff hike was scheduled to take effect on Oct. 15. Goldman still expects CNH to weaken to 7.20 per US Dollar in three and six months, before recovering to 7.10 in 12 months. Key points Short-lived pauses in trade tensions… 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.
