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Fresh YTD High, PMIs On Tap

CNH

USD/CNH firmed to fresh year to date highs on Thursday, CNH was unable to hold post PBOC fix gains after a stronger than expected fixing from the bank.

  • The pair printed a fresh year to date high at 7.2769 before marginally paring gains and last prints at 7.2670/90.
  • Bulls target yesterdays high a break through here opens high from Oct 25 at 7.3749. Bears first look to break the 20-Day EMA (7.1830).
  • In the equities space; CSI300 fell ~0.5% and Golden Dragon was down ~1.6%.
  • Official PMIs for June are on tap today, Mfg PMI is expected to print at 49.0 and Non-Mfg PMI is expected at 53.5.

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