China's Current-Account Developments Signal More Room for CNY Strength -- Market Talk

Dow Jones

Jan 06

0159 GMT - China's current-account developments suggest there's more room for CNY strength, ING's Lynn Song says in a report. China's trade surplus continued to widen in 2025 despite the outbreak of a trade war, resulting in current-account-to-GDP ratio rising throughout 2025, says ING's chief economist for Greater China. Historically, this tends to have a positive correlation with CNY strength, as exporters tend to convert proceeds back to CNY to use for domestic expenditures," Song says. The pushback from the People's Bank of China's against recent CNY appreciation has been relatively limited for now, Song adds. ING forecasts USD/CNY to fluctuate within a 6.8500-7.2500 range in 2026. USD/CNY is 0.1% lower at 6.9824, LSEG data show. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 05, 2026 20:59 ET (01:59 GMT)

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China's trade surplus continued to widen in 2025 despite the outbreak of a trade war, resulting in current-account-to-GDP ratio rising throughout 2025, says ING's chief economist for Greater China. Historically, this tends to have a positive correlation with CNY strength, as exporters tend to convert proceeds back to CNY to use for domestic expenditures,\" Song says. The pushback from the People's Bank of China's against recent CNY appreciation has been relatively limited for now, Song adds. ING forecasts USD/CNY to fluctuate within a 6.8500-7.2500 range in 2026. USD/CNY is 0.1% lower at 6.9824, LSEG data show. (ronnie.harui@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 05, 2026 20:59 ET (01:59 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's Current-Account Developments Signal More Room for CNY Strength -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Current-Account Developments Signal More Room for CNY Strength -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-01-06 09:59</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0159 GMT - China's current-account developments suggest there's more room for CNY strength, ING's Lynn Song says in a report. China's trade surplus continued to widen in 2025 despite the outbreak of a trade war, resulting in current-account-to-GDP ratio rising throughout 2025, says ING's chief economist for Greater China. Historically, this tends to have a positive correlation with CNY strength, as exporters tend to convert proceeds back to CNY to use for domestic expenditures,\" Song says. The pushback from the People's Bank of China's against recent CNY appreciation has been relatively limited for now, Song adds. ING forecasts USD/CNY to fluctuate within a 6.8500-7.2500 range in 2026. USD/CNY is 0.1% lower at 6.9824, LSEG data show. (ronnie.harui@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 05, 2026 20:59 ET (01:59 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CNY","symbol_name":"Morgan Stanley Market Vectors Renminbi USD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2601854948","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2601854948","pubTimestamp":1767664740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0159 GMT - China's current-account developments suggest there's more room for CNY strength, ING's Lynn Song says in a report. China's trade surplus continued to widen in 2025 despite the outbreak of a trade war, resulting in current-account-to-GDP ratio rising throughout 2025, says ING's chief economist for Greater China. Historically, this tends to have a positive correlation with CNY strength, as exporters tend to convert proceeds back to CNY to use for domestic expenditures,\" Song says. The pushback from the People's Bank of China's against recent CNY appreciation has been relatively limited for now, Song adds. ING forecasts USD/CNY to fluctuate within a 6.8500-7.2500 range in 2026. USD/CNY is 0.1% lower at 6.9824, LSEG data show. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CNY":"Morgan Stanley Market Vectors Renminbi USD"},"translate_title":"中国经常账户的发展预示着人民币走强的更大空间——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CNY":1.5},"content_text":"0159 GMT - China's current-account developments suggest there's more room for CNY strength, ING's Lynn Song says in a report. China's trade surplus continued to widen in 2025 despite the outbreak of a trade war, resulting in current-account-to-GDP ratio rising throughout 2025, says ING's chief economist for Greater China. Historically, this tends to have a positive correlation with CNY strength, as exporters tend to convert proceeds back to CNY to use for domestic expenditures,\" Song says. The pushback from the People's Bank of China's against recent CNY appreciation has been relatively limited for now, Song adds. ING forecasts USD/CNY to fluctuate within a 6.8500-7.2500 range in 2026. USD/CNY is 0.1% lower at 6.9824, LSEG data show. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 05, 2026 20:59 ET (01:59 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}