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Marginally Firmer On Wednesday, Trade Balance On Tap

CNH

USD/CNH prints at 6.8810/20, the pair was ~0.2% softer on Wednesday.

  • CNH firmed in the aftermath of yesterday's US CPI print, USD/CNH fell ~0.3% before finding support at 6.875 and marginally paring losses.
  • Narrow ranges persist in the pair, with USD/CNH dealing in a 6.86/90 range in April thus far. The pair sits a touch below the 20-Day EMA (6.8834), bears look to target low from Mar 23 (6.8105) and bulls look to re-test 7 handle.
  • In the equity space, the Golden Dragon fell 3.9% yesterday providing a bearish lead for today's session. CSI300 was little changed yesterday.
  • On the wires today we have March Trade Balance on tap, the market looks for a surplus of $40.00bn.

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