Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

NEER Back To September 2021 Lows

CNH

USD/CNH finish the NY session close to 7.2500. This is below yesterday's early Asian session highs near 7.2600, but still comfortably above overnight lows near 7.2000. The CNY NEER (J.P. Morgan Index) continued to fall, down a further 0.56%, bringing losses for the past 3 sessions close to 1.80%. This puts the index back to lows from September 2021.

  • Today's data calendar is quiet, with PMIs due tomorrow the next major data focus point.
  • Conditions across manufacturing (49.0 forecast versus 49.2 prior) and non-manufacturing (48.0 versus 48.7 prior) are forecast to deteriorate further. Covid related restrictions and weaker external demand are seen as on-going headwinds.
  • For today, the focus will be firmly on the domestic covid situation and associated social unrest.
  • Overnight the China Dragon index rose 2.83%, although the index remains below recent highs.
  • There is hope that protests related to covid restrictions will enable an earlier exit from lockdown conditions, but this remains to be seen. It’s also unclear a rapid re-opening would drive a sharp rebound in economic activity, at least initially, as a more rapid spread of Covid may present meaningful headwinds.
185 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

USD/CNH finish the NY session close to 7.2500. This is below yesterday's early Asian session highs near 7.2600, but still comfortably above overnight lows near 7.2000. The CNY NEER (J.P. Morgan Index) continued to fall, down a further 0.56%, bringing losses for the past 3 sessions close to 1.80%. This puts the index back to lows from September 2021.

  • Today's data calendar is quiet, with PMIs due tomorrow the next major data focus point.
  • Conditions across manufacturing (49.0 forecast versus 49.2 prior) and non-manufacturing (48.0 versus 48.7 prior) are forecast to deteriorate further. Covid related restrictions and weaker external demand are seen as on-going headwinds.
  • For today, the focus will be firmly on the domestic covid situation and associated social unrest.
  • Overnight the China Dragon index rose 2.83%, although the index remains below recent highs.
  • There is hope that protests related to covid restrictions will enable an earlier exit from lockdown conditions, but this remains to be seen. It’s also unclear a rapid re-opening would drive a sharp rebound in economic activity, at least initially, as a more rapid spread of Covid may present meaningful headwinds.