MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CNH: USD/CNH Closing In On 20-day EMA Resistance

CNH
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

USD/CNH is tracking higher, the pair last near 7.0500. Broader USD gains are weighing on the pair, with BBDXY index continuing to tick higher. The pull back in China equity related sentiment is another headwind, with sharp losses in HK and China property names.  

  • Levels wise for USD/CNH we aren't too far away from the 20-day EMA (7.0576), while beyond that the Sep 24 high in the pair was at 7.0694. lows on Monday were at 6.9735.
  • With China markets closed until next Tuesday there will be no onshore spot update until then (last close at 7.0187).
  • Sentiment will be dictated by HK/China related equity swings in interim, along with broader USD trends in the lead up to tomorrow night's US NFP print. 
123 words

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.

USD/CNH is tracking higher, the pair last near 7.0500. Broader USD gains are weighing on the pair, with BBDXY index continuing to tick higher. The pull back in China equity related sentiment is another headwind, with sharp losses in HK and China property names.  

  • Levels wise for USD/CNH we aren't too far away from the 20-day EMA (7.0576), while beyond that the Sep 24 high in the pair was at 7.0694. lows on Monday were at 6.9735.
  • With China markets closed until next Tuesday there will be no onshore spot update until then (last close at 7.0187).
  • Sentiment will be dictated by HK/China related equity swings in interim, along with broader USD trends in the lead up to tomorrow night's US NFP print.