HSBC has revised its second quarter and third quarter USD/CNY forecasts higher, courtesy of increased US tariffs. The investment bank now sees USD/CNY at 6.95 in both the second and the third quarter as opposed to the previous prediction of 6.70 and 6.75, respectively. The analysts, however, have kept their year end forecast unchanged at 6.75 on the premise that there will be some moderation of trade tensions. The US hiked tariffs on $200 billion worth of China’s good from 10% to 25% last Friday. While China is yet to retaliate, the nation has warned the US not to underestimate its endurance to fight a prolonged war. 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 Crypto market overview: Bitcoin (BTC) stays at $7,000 as altcoins lose ground FX Street 3 years HSBC has revised its second quarter and third quarter USD/CNY forecasts higher, courtesy of increased US tariffs. The investment bank now sees USD/CNY at 6.95 in both the second and the third quarter as opposed to the previous prediction of 6.70 and 6.75, respectively. The analysts, however, have kept their year end forecast unchanged at 6.75 on the premise that there will be some moderation of trade tensions. The US hiked tariffs on $200 billion worth of China's good from 10% to 25% last Friday. While China is yet to retaliate, the nation has warned the US… 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.
