Free Trial

Consolidates Post PBOC Fix Gains

CNH

USD/CNH prints at 7.2530/50, the pair fell ~0.2% on Monday.

  • Post PBOC fix gains were consolidated for the remainder of the session, however USD/CNH remained well within the daily range. The bank set the Yuan reference rate 310pips stronger than the Bloomberg forecast.
  • Bulls look to break Friday's high 7.2857, this opens the high from 4 November 7.3391. Bears first look to target the 20-Day EMA at 7.1958.
  • In the equity space yesterday the CSI300 rose ~1.3%.
  • That data calendar is thin today, on Wednesday Caixin Services PMI is due.

To read the full story

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.