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Danske Bank says USD/CNY jumped to its highest level in six years, near 6.72, after trading resumed following the Chinese holiday. The bank views the move as business as usual and expects the weakening trend to continue, with a 12-month target of 7.1.
It cites slowing growth, high debt, rising US rates, negative FDI flows and financial crisis risk.
A forecast for a sustained weaker yuan would reduce Chinese import purchasing power for feed commodities over the coming year. The effect on feed prices depends on whether the trend materializes.
octaafrica.net11.10.2016Nach 398 vergangenen Ereignisse (bullisch, Makro) bewegte sich Chinesischer Yuan (CNY pro USD) im Median über 5 Handelstage um +0,0 % (56% höher; mittlere Hälfte -0,3 % bis +0,5 %) und über 20 Handelstage um +0,0 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
USD/CNY jumped to a six-year high near 6.72 when onshore trading resumed after the holiday, which describes the move in question and reflects bearish sentiment on the yuan.
USD/CNY jumped to a six-year high near 6.72 on resumed trading, and the bank's bearish yuan outlook reinforced depreciation sentiment.
