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Brokers Raise RMB Forecasts; G Sachs Expects USD/CNY at 6.5 within 12 Mths
Several brokers raised their forecasts for RMB, propelled by China's export competitiveness and the maintenance of stable trade relations with the US. RMB exchange rate continu...
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Brokers Raise RMB Forecasts; G Sachs Expects USD/CNY at 6.5 within 12 Mths
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Several brokers raised their forecasts for RMB, propelled by China's export competitiveness and the maintenance of stable trade relations with the US. RMB exchange rate continued to appreciate steadily since the beginning of this year. As of Tuesday (19th), CNH cumulatively climbed about 2.6% against USD to 6.7973.

HSBC HOLDINGS (00005.HK)  +2.200 (+1.553%)    Short selling $225.55M; Ratio 8.458%   was bullish that RMB will continue to appreciate moderately and raised its year-end forecast to 6.65 per USD from the previous 6.75. The bank cited China's strong export competitiveness, along with RMB internationalization and economic rebalancing, as key domestic structural themes supporting RMB.

Related NewsHSBC HOLDINGS (00005.HK) Gains Over 2% at Midday; G Sachs Reiterates Buy
Deutsche Bank also lifted its year-end forecast for RMB to 6.55 per USD from the previous 6.7, noting that China's enormous growth in upstream product imports is likely to be followed by a further rebound in export orders and a recovery in domestic demand.

Goldman Sachs viewed that, supported by China's unprecedented trade surplus and strong export competitiveness, RMB has room for further and more sustained appreciation. It forecast USD/CNY to reach 6.8, 6.7 and 6.5 in three, six and twelve months, respectively, compared with its previous forecasts of 6.85, 6.8 and 6.7 per USD.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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