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China Factory Activity Cools, Domestic Markets Closed

CNH

USD/CNH prints at 6.93/94 little changed from Friday's closing levels.

  • The pair sit above its 20-Day EMA (6.9052) and a touch off the high 25 Apr (6.9508). On the downside the 200-Day EMA (6.8741) is providing support.
  • Chinese factory activity unexpectedly shrank at the weekend, Manufacturing PMI printed at 49.2 in April falling from 51.9 in March. Non-manufacturing printed 56.4 in April vs 58.2 in March.
  • Domestic markets are closed for the next 3 days for the observance of a national holiday.

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