Against the backdrop of the current market volatility, we fine-tune our USD/CNY forecasts, analysts at Nordea inform. The pair is trading at 7.1040. Key quotes “Elevated uncertainty related to the pandemic and global growth will likely lead to ongoing weakening pressure on the CNY.” “Yield-hungry flows might find Chinese assets attractive on China’s relative growth outperformance compared to the rest of the world and provide a floor for the CNY versus the dollar.” “The Chinese authorities are not interested in a strong CNY that would put further strain on exports. They are likely ready to intervene, should the CNY face heavy selling pressure.” 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 New York Price Forecast: XAU/USD choppy below $1500/oz after the selloff FX Street 2 years Against the backdrop of the current market volatility, we fine-tune our USD/CNY forecasts, analysts at Nordea inform. The pair is trading at 7.1040. Key quotes “Elevated uncertainty related to the pandemic and global growth will likely lead to ongoing weakening pressure on the CNY.” “Yield-hungry flows might find Chinese assets attractive on China’s relative growth outperformance compared to the rest of the world and provide a floor for the CNY versus the dollar.” “The Chinese authorities are not interested in a strong CNY that would put further strain on exports. They are likely ready to intervene, should the CNY face… 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.
