4 Global Market Updates- 24 August, 2022

 

In this article, we have covered the highlights of global market news about the USD/CNY, USD/TRY, USD/CAD and EUR/USD.
USD/CNY will trade in a new and higher range for the remainder of 2022 and into the first part of 2023, according to HSBC.

“USD/CNY just crossed over the frequently observed 6.80 thresholds in terms of currency. We believe this indicates that for the remainder of this year and into the first part of next year, USD/CNY will probably trade in a new and higher range.
We do not believe the positive momentum will be as strong this time, given that China-US yield differentials look stabilising and the CNY’s overvaluation has been reduced. However, USD/CNY increased strongly in April-May when it broke over 6.40.

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