# USD/CNY: Expected to reach 7.15 on a three-month horizon – Nordea — Octa

> Nordea revised its USD/CNY forecast to 7.15 on a three-month horizon, citing elevated coronavirus uncertainty and safe-haven capital flows. The bank expects the direction of the pair to be driven mainly by global risk sentiment. It also expects the PBoC to keep supporting the yuan through verbal intervention and a stronger daily fixing.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/53881-usd-cny-expected-to-reach-7-15-on-a-three-month-horizon-nordea-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan forecast implies dearer dollar-priced imports for Chinese feed buyers, which could slow purchases of US and Brazilian feed commodities. The impact on prices is modest.

## 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 | 2020-02-03 | [USD/CNY remains in 2-month tops near 7.02 ahead of ISM - Forex Crunch](https://feedsoft.ai/events/5137-usd-cny-remains-in-2-month-tops-near-7-02-ahead-of-ism-forex-crunch.md) | +1.2% | +0.6% |
| USDCNY | 2021-08-10 | [USD/CNY to recapture the 6.50 level as yuan changes its appreciation trend – ING — Octa](https://feedsoft.ai/events/45787-usd-cny-to-recapture-the-6-50-level-as-yuan-changes-its-appreciation-trend-ing.md) | -0.2% | -0.3% |
| USDCNY | 2020-07-24 | [USD/CNY Rises Back Above 7 on Talks PBoC Is Pausing Easing](https://feedsoft.ai/events/52327-usd-cny-rises-back-above-7-on-talks-pboc-is-pausing-easing.md) | +0.1% | -1.3% |
| USDCNY | 2016-06-23 | [USDCNY likely to continue heading higher – SocGen — Octa](https://feedsoft.ai/events/10885-usdcny-likely-to-continue-heading-higher-socgen-octa.md) | +0.9% | +1.5% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/810262/

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