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14 Apr 2025

USD/CNH: Likely to trade between 7.2430 and 7.3700 for now – UOB Group

Chance for US Dollar (USD) to dip below 7.2700; the major support at 7.2430 seems to be out of reach. In the longer run, sharp but short-lived price action has resulted in a mixed outlook; USD is likely to trade between 7.2430 and 7.3700 for now.

Short-lived price action has resulted in a mixed outlook

24-HOUR VIEW: "We expected USD to weaken last Friday, but we indicated that 'oversold conditions suggest any decline is unlikely to reach the major support at 7.2430. We added, 'there is another support at 7.2700.' USD fell less than expected to 7.2788. Although there has been no further increase in downward momentum, there is a chance for USD to dip below 7.2700. The major support at 7.2430 still seems to be out of reach. Resistance levels are at 7.3150 and 7.3350."

1-3 WEEKS VIEW: "Our update from last Friday (11 Apr, spot at 7.3100) still stands. As highlighted, the recent 'sharp but short-lived price action has resulted in a mixed outlook.' For the time being, we expect USD to “trade between 7.2430 and 7.3700.”

Apr 14, 2025

TRY: Keeping an eye on inflation expectations ahead of rate meeting – Commerzbank

The latest version of market inflation expectations, published on Friday by Turkey’s central bank (CBT) showed inflation expectation for end-2025 rising by 2pp from 28% to 30%. The margin is not insignificant.
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Apr 14, 2025

CAD in focus ahead of inflation and BoC meeting – Danske Bank

Tariff exemptions from the US offered temporary support to the dollar, but broader concerns about credibility and economic weakness continue to weigh. With market correlations breaking down and investor confidence shaken, USD pressure may persist in the near term, Danske Bank's FX analysts report.
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