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Muted Start, Monthly Economic Activity Data Headlines

CNH

USD/CNH sits in line with Friday's closing levels in a muted start to the week's dealing. Ranges are narrow with little follow through thus far.

  • On Friday the pair ticked higher as the greenback trimmed some of its recent losses with gains extended after a firmer than forecast NFP print.
  • Technically we sit a touch under 20-Day EMA (7.1866), bulls look to break the 7.20 handle which opens the high from 13 Nov (7.3108). Bears immediate focus is on the 200-Day EMA at 7.1606.
  • The November economic activity release from China on Friday headlines this week's docket, also due this week is the 1-Year MLF rate decision which also crosses on Friday.

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