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.

EM Bullet Homepage Bullet Markets Emerging Markets News Foreign Exchange News

Krzysztof Kruk

EM Bullet Homepage Bullet Markets Emerging Markets News Foreign Exchange News

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Offshore Yuan Slips, Covid Keeps Haunting China