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28 Mar 2025

USD/CNH: Likely to trade sideways between 7.2570 and 7.2820 – UOB Group

US Dollar (USD) is likely to trade sideways vs Chinese Yuan (CNH) between 7.2570 and 7.2820. In the longer run, momentum has improved further; USD could continue to rise to 7.2980, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. 

USD can continue to rise to 7.2980

24-HOUR VIEW: "After USD rose to 7.2822 two days ago, we highlighted yesterday that 'although there has been no clear increase in upward momentum, there is scope for USD to test 7.2855.' We pointed out, 'support levels are at 7.2720 and 7.2650.' Our expectations did not materialise, as USD traded in a 7.2658/7.2791 range, closing at 7.2671 (-0.16%). The price action appears to be part of a sideways trading range, mostly likely between 7.2570 and 7.2820." 

1-3 WEEKS VIEW: "Momentum has improved further; USD could continue to rise to 7.2980. On Wednesday (26 Mar, spot at 7.2655), highlighted that 'there appears to be enough momentum for USD to rise to 7.2820.' After USD rose to 7.2822, we highlighted yesterday (27 Mar, spot at 7.2765) that 'momentum has improved further, and we continue to expect USD to rise, and the next level to monitor is 7.2980.' We will maintain our view as long as the ‘strong support’ at 7.2500 (no change in level from yesterday) is intact."

Mar 28, 2025

China: Buckle up for ‘Liberation Day’ – Standard Chartered

The US has limited room to further hike tariffs on China under the Reciprocal Tariff Act.
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Mar 28, 2025

US natural gas storage rises – ING

US natural gas prices traded under pressure as the US witnessed its second straight week of inventory injection while weather forecasts remained mixed, ING's commodity experts Ewa Manthey and Warren Patterson note.
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