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CNH: Off Session Lows Vs. USD After Trump-Xi Call

CNH
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

USD/CNH away from session highs after Trump noted that “I just spoke to Chairman Xi Jinping of China. The call was a very good one for both China and the U.S.A. It is my expectation that we will solve many problems together, and starting immediately. We discussed balancing Trade, Fentanyl, TikTok, and many other subjects. President Xi and I will do everything possible to make the World more peaceful and safe!”

  • Heightened focus on Sino-U.S. relations is clearly evident ahead of Trump’s second Presidential term.
  • USD/CNH still above session lows, last 7.3430, with the technical setup in the pair remaining bullish.
  • A reminder that our Beijing team’s latest work suggested that the PBoC will limit any sharp depreciation of the yuan in response to uncertainties arising from potential U.S. tariffs and as Federal Reserve easing expectations recede.
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USD/CNH away from session highs after Trump noted that “I just spoke to Chairman Xi Jinping of China. The call was a very good one for both China and the U.S.A. It is my expectation that we will solve many problems together, and starting immediately. We discussed balancing Trade, Fentanyl, TikTok, and many other subjects. President Xi and I will do everything possible to make the World more peaceful and safe!”

  • Heightened focus on Sino-U.S. relations is clearly evident ahead of Trump’s second Presidential term.
  • USD/CNH still above session lows, last 7.3430, with the technical setup in the pair remaining bullish.
  • A reminder that our Beijing team’s latest work suggested that the PBoC will limit any sharp depreciation of the yuan in response to uncertainties arising from potential U.S. tariffs and as Federal Reserve easing expectations recede.