USD/CNY: Yuan will continue to appreciate this year, but at a mild pace – Commerzbank

FXStreet Insights Team FXStreet

Economists at Commerzbank forecast CNY to appreciate mildly this year due to the tailwinds from Covid reopening.

Risks to growth and CNY remain significant

“Due to the Covid reopening and in anticipation of a weaker dollar later this year, we forecast CNY will continue to appreciate this year. But the pace of appreciation will be mild as we remain cautious about the speed of the economic recovery, especially in H2.”

“Confidence will be crucial to growth and the CNY path further down the road. But the degree to which confidence will be regained remains highly uncertain.”

“Meanwhile, the property slump will take time to turn around, and headwinds from global slowdown and US-China tensions will remain strong. Thus, risks to growth and CNY remain large.”

Source: Commerzbank Research

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD: Gains remain capped below 1.3200 ahead of US PCE

GBP/USD clings to minor recovery gains, but remains below 1.3200 in the European session on Thursday. However, the potential upside for the pair appear limited amid UK political instability and rising expectations of US interest rate hikes this year. Traders await the US May PCE inflation data on Thursday for a clear direction.

EUR/USD defends 1.1350 as eyes turn to US PCE inflation

EUR/USD trades better bid above 1.1350 in European trading on Thursday. A pause in the US Dollar rally is helping the pair stay afloat. Markets look to the key US Personal Consumption Expenditures report for fresh trading impetus.

Gold bounces off November 2025 lows as USD rally pauses ahead of US PCE

Gold rebounds from the vicinity of the lowest level since November 2025, set the previous day, and trades near the $4,000 psychological mark. A modest US Dollar downtick offers some support to the commodity amid some repositioning trade ahead of the release of the US Personal Consumption Expenditures Price Index.

Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

Ripple and SBI Group partner to launch RLUSD in Japan

Ripple (XRP) remains under pressure, trading at $1.06 on Thursday after losing nearly 5% so far this week. Ripple and SBI Group partnered to launch RLUSD stablecoin in Japan following approval from the Japan Financial Services Agency on Thursday, but the move failed to lift sentiment.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.