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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.
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Free AccessMorgan Stanley went short USD/CNH at.....>
CHINA YUAN: Morgan Stanley went short USD/CNH at the NY close on Thursday, with
a target of CNH6.9500 and a stop at CNH7.2100.
- MS reasons that "CNY rallied in the first two weeks of September on the back
of de-escalation of U.S./China trade tensions but ignored the news that China
exempted soybeans from tariffs last Friday. We believe that the market
underestimated the importance of this news and both private companies and SOEs
in China could step up soybean purchases, reducing the tension between the two
nations temporarily. We are short USD/CNH targeting CNH6.9500 but would look to
reassess the trade into mid-November should Presidents Trump and Xi meet at the
APEC Summit. The risks to the trade are hawkish Fed rhetoric or re-escalation of
trade tension."
To read the full story
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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.