USD/CNY to breach historical highs and end the year at 7.60 – SocGen

[ad_1] Share:  Economists at Société Générale make an upward revision to USD/CNY. An arduous march to 7.60 by the end of 2023 We revise up our year-end USD/CNY forecast by 0.20 to 7.60. The policy response, seemingly less organised than in the past, should pave the way for the USD/CNY pair to overshoot

Yuan drops below 7.2900 on PBoC moves, multi-year high US-China yield gap

[ad_1] Share: USD/CNH bounces off intraday low but defends week-start bearish move. 10-year yield gap between US and China jumps to the highest since 2007. Markets fear more China stimulus, further downside for Yuan amid economic pessimism. US Dollar’s preparations for Jackson Hole Symposium allow USD/CNH to pare recent gains. USD/CNH rebounds from

Stock Indices Steady as PBOC Reduces its 1-Year Loan Prime Rate to a Record Low

[ad_1] Article by IG Senior Market Analyst Axel Rudolph FTSE 100, CAC 40, Nasdaq 100 Charts and Analysis ​​​FTSE 100 stabilises at support ​Following six consecutive days of falling prices, the FTSE 100 managed to find support between its March and July lows at 7,216 last week and is little changed on Monday morning as

Market Update – 21 August – PBOC disappoints, markets quiet

[ad_1] APAC stocks traded mixed as the disappointment from China’s decision on its Loan Prime Rates overshadowed its recent support efforts; Hong Kong underperformed. PBOC opted for a narrower-than-expected cut to the 1-year LPR alongside a surprise hold on the 5-year LPR, which is the reference rate for mortgages. PBOC and regulators met with bank