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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 AccessOutperforms, Feb Inflation Data On Tap
USD/CNH's pull back extended to sub 6.9500 late in the NY session. We sit back close to 6.9700 now, as the pair recovered in line with a firmer US yield backdrop late in NY trade. The simple 100-day MA remains nearby (6.9735) and we haven't been able to sustain moves above this resistance point so far this week. CNH was 0.36% firmer for Wednesday's session, while the CNY NEER rose a further 0.2% to 125.74 (J.P. Morgan Index).
- The data focus today rests with the CPI and PPI prints for Feb. The market expects fairly benign outcomes for both prints, see this link for more details.
- Inflation trends will be watched around for fresh easing risks, although recent NPC outcomes appears to be pushing back against this prospect.
- The CNY fixing will also be eyed given yesterday's firmer outcome relative to expectations. Bloomberg also noted that exporters were sellers of the USD onshore yesterday.
- In the equity space, the China Dragon index continued to edge down, losing a further 0.58% for Wednesday's session. Northbound stock connect outflows were just over 1bn yuan yesterday, as onshore equities finished modestly lower.
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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.