AUD/CNY: the Australian dollar should ascend versus the Chinese Yuan

AUD/CNY: the Australian dollar should ascend versus the Chinese Yuan

Some financial analysts suggest that the Australian dollar might ascend versus the Chinese Yuan within the coming weeks.

The currency pair AUD/USD hasn’t left a 3% range since mid-January. The pair should remain quite intact between approximately 0.74- 0.77. Obviously, it has been edged down as iron ore prices decreased, and waves of risk aversion hit, following tensions in the Korean peninsula. However, the pair is expected to be underpinned by trade surpluses as well as a steady RBA outlook, to say nothing of domestic data.

Over the next several weeks, experts see the greenback soaring more against the major Chinese currency than the AUD. Upbeat surge and trade and surges in equity market have seen Asian currencies going up, even versus a backdrop of higher American yields. It feels like the Chinese currency has underperformed. Meanwhile, the AUD has remained quite resilient. Therefore, analysts see AUD/CNY heading north towards the 5.25/30 area within the coming weeks.

 

Similar

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Crude holds revenues on API estimates

On Wednesday, crude held revenues in Asia because industry estimates revealed a much sharper draw in American crude inventories expected, although higher than seen gasoline stocks affected market sentiment…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera