China economic rebound to drive USDCNY lower to 6.55 by end-2019 – Morgan Stanley
|Analysts at Morgan Stanley expect the Chinese Yuan to edge higher vs. the US dollar by this year-end amid an upturn in the Chinese economic recovery, as Beijing’s stimulus efforts help spur the economy.
Key Quotes:
“Market is underestimating the upcoming rebound in China.
We expect USDCNY to reach 6.55 by year-end 2019.
Due to our view that the upcoming China stimulus can be more potent than the market currently expects.
Our economists are expecting January's broad credit figure to rebound on the back of stronger corporate and front-loaded local government bond issuances.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.