USD/CNH: Inability to hold 7.22 can lead to a deeper pullback – Societe Generale

USD/CNH recently tested the 200-DMA at 7.22 resulting in a brief rebound, Societe Generale's FX analysts report.

Next objectives can be located at 7.17/7.16

"It has crossed the descending trend line drawn since January highlighting possibility of extension in bounce. Recent pivot high of 7.31 is a short-term hurdle. If the pair fails to overcome it, the phase of correction could extend. Inability to hold 7.22 can lead to a deeper pullback. Next objectives could be located at projections of 7.17/7.16."

Apr 2, 2025

ECB's Schnabel: Trade fragmentation is structurally harmful for economic growth and inflation

European Central Bank (ECB) board member Isabel Schnabel said on Wednesday that trade fragmentation is structurally harmful for economic growth and inflation, per Reuters.

USD/JPY: Likely to trade in a range between 149.05 and 150.20 – UOB Group

US Dollar (USD) is likely to trade in a range between 149.05 and 150.20 vs Japanese Yen (JPY). In the longer run, USD appears to have moved into a 148.40/151.00 consolidation range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.