CNY: On track to test 6.80 with strong local demand – Societe Generale
Par FXStreet Insights Team
Mis à jour: 17 Apr 2026
ARTICLES POPULAIRES
Societe Generale analysts flag that CNY is on course to test 6.80 for the first time in three years, even as the People's Bank of China (PBoC) moderates the pace of appreciation via weaker fixings.
Societe Generale analysts flag that CNY is on course to test 6.80 for the first time in three years, even as the People's Bank of China (PBoC) moderates the pace of appreciation via weaker fixings. Robust domestic savings are supporting Chinese government bonds, while stronger‑than‑expected first‑quarter growth and a solid export performance underpin the Yuan despite softer recent activity data and easing CPI inflation.
Yuan strength backed by savings and growth
"CNY on track to test 6.80 for the first time in three years even as the PBoC manages the pace of yuan appreciation by weaker fixings."
"Rates continue to outperform Western peers, with the 10y CGB yield slipping below 1.79% (200dma)."
"China’s $51trn domestic savings pool is supporting demand for local debt while a basket of CNY high‑grade bonds tops Bloomberg global FI aggregate YTD (+~1.1%)."
"On the macro front, 1Q growth surprised to the upside, accelerating to 5.0% yoy vs 4.5% in 4Q."
"1Q exports still ran a solid growth clip of 14.7%."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Plus d’un million d’utilisateurs se tournent vers FXStreet pour des données de marché en temps réel, des outils de graphiques, des analyses d’experts et des actualités Forex. Leur calendrier économique complet et leurs webinaires éducatifs aident les traders à rester informés et à prendre des décisions éclairées. FXStreet s’appuie sur une équipe d’environ 60 professionnels répartis entre le siège de Barcelone et diverses régions du monde.
Lire la suite
