Cross-border quotes are affected by a variety of factors, such as economic fundamentals, political risks, market sentiment, and more. Some of the factors that could cause the cross-border ticker to be less favorable in 2023 than it was in 2022 may include:

Global economic slowdown: The global economy is currently facing uncertainties and risks, including the global neocoronavirus outbreak, volatile energy prices, trade wars, geopolitical tensions, and other factors, which could lead to a global economic slowdown that could affect cross-border sentiment.

Changes in monetary policy: If central banks in multiple countries adjust their monetary policies, such as by raising or lowering interest rates, this may have an impact on cross-border sentiment. For example, an interest rate hike could lead to a repatriation of foreign exchange assets, which could lift the local currency exchange rate, while an interest rate cut could lead to a depreciation of the local currency, which could in turn push up cross-border investment demand.

Geopolitical risk: Geopolitical tensions can also lead to cross-border instability, such as trade wars between countries, territorial disputes, terrorism and other events that can affect investor confidence and market sentiment.

Other factors: There are many other factors, such as natural disasters, social instability, etc., that can affect the performance of global cross-border quotes.

It should be emphasized that changes in financial market movements are often very complex, and the views and behaviors of different market participants can also affect market movements, so giving an exact cause is difficult. Investors need to make investment decisions accordingly based on their own investment risk appetite and market judgment.