Free Trial

China's equity recovery has extended after....>

CHINA
CHINA: China's equity recovery has extended after the break, with the CSI300 now
up 3.5%. A number of down trendline resistance levels have been taken out today
opening the next upside target at 3300, above which would confirm a bottom. 
- The yuan is trading in sympathy with Chinese stocks with USDCNH back down
below 6.91. The pair remains off its early lows below 6.90 but it would only
take a close below 6.92 to mark a bearish break below the 50-dma on the daily
chart. 
- The missing link to the yuan's recovery remains the rate market, with 2-year
swaps giving back early gains to trade up just 0.25bps on the day at 2.81%. 

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.