# USDCNY likely to continue heading higher – SocGen — Octa

> Societe Generale maintains its central forecast that USD-CNY will peak at 6.80 over the next 6 to 12 months, assigning 80% probability to this outcome and 20% to a 7.50 risk scenario. The bank cites capital outflows exceeding the current account surplus and ongoing FX reserve depletion.

- Date: 2016-06-23 · published 2016-06-23T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10885-usdcny-likely-to-continue-heading-higher-socgen-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Expected yuan depreciation would raise the dollar cost of Chinese imports and could reduce demand for dollar-priced feed ingredients at the margin.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-10-11 | [USD/CNY: We expect the bullish trend to continue - Danske Bank — Octa](https://feedsoft.ai/events/5890-usd-cny-we-expect-the-bullish-trend-to-continue-danske-bank-octa.md) | +1.0% | +1.6% |
| USDCNY | 2020-11-17 | [Chinese yuan jumps to strongest and will likely continue - CGTN](https://feedsoft.ai/events/50364-chinese-yuan-jumps-to-strongest-and-will-likely-continue-cgtn.md) | +0.0% | -0.8% |
| USDCNY | 2024-02-27 | [Yuan will likely remain weak as China continues to muddle through its structural challenges – Commerzbank — Octa](https://feedsoft.ai/events/31897-yuan-will-likely-remain-weak-as-china-continues-to-muddle-through-its.md) | +0.0% | +0.2% |
| USDCNY | 2018-06-27 | [USD/CNY rises to highest since December 19 - Forex Crunch](https://feedsoft.ai/events/8532-usd-cny-rises-to-highest-since-december-19-forex-crunch.md) | +0.9% | +2.9% |
| USDCNY | 2020-04-02 | [USD/CNY: Expected to reach 7.15 on a three-month horizon – Nordea — Octa](https://feedsoft.ai/events/53881-usd-cny-expected-to-reach-7-15-on-a-three-month-horizon-nordea-octa.md) | -0.5% | -0.3% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/331346/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.