Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
24 October 2022 | Other

Yuan falls despite attempts of the Chinese authorities to support the national currency

USDCNY

Despite large state-owned banks’ attempts to stabilize the market, the Chinese yuan has hit record lows against the dollar.

Sources tell Reuters that state-owned banks were selling dollars on the domestic foreign exchange market to avoid the spot price weakening below 7.25 per dollar level.

Despite attempts by banks to avoid weakening the spot price, the yuan finished its domestic trading session at a low.

According to traders, the yuan's weakness could persist, reflecting the dollar's strength. PRC’s current currency remains weak as Federal Reserve officials show no signs of abandoning their hawkish rhetoric about raising rates as Chinese politicians try to support a weakening economy.



Company MarketCheese

Recommended

China. Industrial Production (YoY). The value of the indicator has decreased from 5.7% to 5.2%
15 September
United States. Interest Rate Projection - Current. The value of the indicator has decreased from 3.9% to 3.6%
Yesterday at 6:01 PM
United States. Interest Rate Projection - 2nd Yr. The value of the indicator has decreased from 3.4% to 3.1%
Yesterday at 6:01 PM
United States. Interest Rate Projection - 1st Yr. The value of the indicator has decreased from 3.6% to 3.4%
Yesterday at 6:01 PM
United States. Fed Interest Rate Decision. The value of the indicator has decreased from 4.5% to 4.25%
Yesterday at 6:01 PM
Top news
United States. Fed Interest Rate Decision. The value of the indicator has decreased from 4.5% to 4.25%
Yesterday at 6:01 PM
Canada. BoC Interest Rate Decision. The value of the indicator has decreased from 2.75% to 2.5%
Yesterday at 1:45 PM
European Union. CPI (MoM). The value of the indicator has decreased from 0.2% to 0.1%
Yesterday at 9:00 AM
United States. Retail Sales (MoM). The value of the indicator remained at the same level of 0.6%
16 September
European Union. Trade Balance. The value of the indicator has increased from 8B to 12.4B
15 September
All news

Forecasts

S&P 500 buy
Period: 17.09.2025 Expectation: 500 pips
Buying SPX on 0.5% Fed rate cut
Indicators and reports Chart analysis
Yesterday at 11:38 AM 127
McCarthy_Raymond
USDCAD sell
Period: 24.09.2025 Expectation: 1500 pips
USDCAD is set to fall ahead of interest rate decisions
TA Other FA Other Technical analysis Indicators Fundamental analysis
Yesterday at 10:57 AM 104
Lyra_Moonwell1
NVIDIA Corporation sell
Period: 23.09.2025 Expectation: 500 pips
NVIDIA shares approach gap closure at $170.50
Indicators Chart analysis Hot news
Yesterday at 10:26 AM 95
John_Bullard
NVIDIA Corporation buy
Period: 31.12.2025 Expectation: 200 pips
Buying NVIDIA shares with $195 in view
FA Other Chart analysis
Yesterday at 08:54 AM 31
Bruce_Powers
EURUSD sell
Period: 24.09.2025 Expectation: 1300 pips
EURUSD is expected to correct after Fed announces rate decision
FA Other Technical analysis Indicators and reports Indicators Fundamental analysis
Yesterday at 07:14 AM 108
Emily_Foster
BTCUSD buy
Period: 23.09.2025 Expectation: 3000 pips
Buying Bitcoin with $118,800 target amid consolidation
TA Other FA Other Technical analysis Indicators Fundamental analysis
16 September 2025 261
Lyra_Moonwell1
Go to forecasts