- Analytics
- News and Tools
- Market News
- Yuan to face short term pressure from Fed hikes – Nomura
Yuan to face short term pressure from Fed hikes – Nomura
The yuan may endure short-term depreciation pressure as the Federal Reserve continues to hike rates, while China's weak exports, Covid disruptions and real estate downturn also weigh on the currency, Yicai.com reported, citing analysts and strategists from Nomura.
Key quotes
“Nomura maintained its forecast for yuan to weaken to 7.5 against the U.S. dollar by the end of November, rather than forecasting additional weakness as he suspects the People's Bank of China may intervene.”
“Though the State Administration of Foreign Exchange is unlikely to use FX reserves to intervene, state-owned commercial banks may enter the market to support the yuan with their large foreign exchange holdings estimated to total USD629 billion.”
-
USD/CNH rebounds from 7.3300 despite an upbeat Caixin Manufacturing PMI
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
