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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 AccessOffshore Yuan Extends Gains, USD/CNH Sinks Through 50-DMA
Spot USD/CNH extends losses and proves the water below its 50-DMA, which stayed intact since mid-February. In the absence of notable domestic headlines, the move has been driven by renewed greenback weakness, with the BBDXY index sitting ~0.9% lower on the session. USD/CNH last trades at CNH6.8317, down 1,081 pips or 1.56% on the day. A close under Mar 1 low of CNH6.8634 would mark the completion of a double top formation, which would be reinforced by a sustained move through the 50-DMA, suggesting that bears are having the upper hand.
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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.