
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.
過去の強気なマクロイベント398件の後、中国人民元(1 USDあたりCNY) は5営業日で中央値 +0.0% 動き(56% が上昇。中央50%は -0.3% から +0.5%)、20営業日では +0.0% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
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.