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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessOffshore Yuan Slips, Covid Keeps Haunting China
Spot USD/CNH has added 45 pips so far amid continued Covid-19 worry & the prospect of looser policy in China. The rate deals at CNH6.3820.
- Looking ahead, monthly Loan Prime Rate fixing is due tomorrow, with majority of economists surveyed by Bloomberg expecting reductions of 1-year & 5-year rates.
- Note that on Monday the PBOC unveiled a list of 23 measures to support individuals and small businesses affected by the renewed outbreak of Covid-19.
- Daily infections show no convincing signs of easing, with Shanghai's case count holding above 20k despite drastic containment measures. The steel hub of Tangshan locked down 5 districts again amid repeated flare-up of infections.
- Bulls look for a jump above Apr 14 high of CNH6.3958 before targeting Mar 28 high/200-DMA at CNH6.3983/6.4014. Bears would be pleased by a retreat under Apr 13 low of CNH6.3707.
To read the full story
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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.