Free Trial

Benefits From Firmer CNY Open, Higher HK Tech Shares

CNH

USD/CNH sits at session lows, the pair 6.9300/10 at the time of writing. This is around 0.15% sub NY closing levels. Onshore USD/CNY spot opened lower and is back towards the low 6.9200 region, off by a similar amount to USD/CNH.

  • Onshore equities have opened weaker, but HK shares are doing better, the HSI Tech index up 1% so far. Positive spill over from the surge in US Nasdaq futures, +1.35%, is likely helping at the margins.
  • For USD/CNH, recent highs have come in between 6.9100/6.9130 over the past week, so that may act as a support point if we see further downside. Resistance remains just above 6.9500, around the simple 200-day MA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.