Yuan is strengthening. Forecast for 24.09.2020

Taking into account the sizes of the US and China’s economies, it is surprising that the renminbi plays a second role in Forex. I will analyze how the pandemic influences the yuan demand and offer a USDCNH trading plan.

Monthly fundamental forecast for yuan

Divergence in economic expansion is one of the key drivers for the Forex rates. It is like a car race. The GDP rate can be compared to car speed. If a country’s GDP is growing faster than that of the major competitors, the local currency is appreciating. However, the current recession has a unique feature. Unlike…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>