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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.
CNH
The early part of the session has seen USD/CNH remain on the front foot. The pair touched a high of 6.8325, even as broader USD sentiment softened a little (most noticeably in terms of USD/JPY). USD/CNH is a touch lower now, back around 6.8250. This is still around +0.30% above NY closing levels from the end of last week though.
- In terms of upside targets, the 200-day EMA comes in close to 6.8650, while the 50-day is slightly above this level at 6.8753. On the downside, the 20-day EMA is around 6.7860.
- In the options space, the 1 month is a touch 6%, but not too far from recent lows, while the 1 month risk reversal is around 0.5850, also close to recent lows, see the chart below.
Fig 1: USD/CNH 1 Month Implied Vol & Risk Reversal
Source: MNI - Market News/Bloomberg
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.
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