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EURCNH is back above 8.0, trading at.....>

CHINA YUAN
CHINA YUAN: EURCNH is back above 8.0, trading at 8.004, thanks to solid gains in
EURUSD. A weekly close above here would be the first since 2014 and would
strongly suggest a continuation in the bullish trend. It would also imply
further developed market currency outperformance against EM.
- 8.020 is the next level of resistance marking down trendline resistance from
the July 31 high.
- China retail sales, industrial production and FAI will be released at the top
of the hour and could shed more light on the extent of weakness in the Chinese
economy. 

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