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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 AccessPBOC Continues To Signal Discomfort With Yuan Strength
The PBOC extended their series of weaker than expected yuan fixings, setting their central USD/CNY mid-point at CNY6.3943 today, 17 pips above sell-side estimate. Nonetheless, the redback has proven resilient and garnered some further strength.
- Offshore yuan trades on a slightly firmer footing, with spot USD/CNH last seen -25 pips at CNH6.3924. A dip through Oct 25 low of CNH6.3748 would shift focus to Oct 19 low/trendline support at CNH6.3687/84. On the flip side, gains past Oct 29 high of CNH6.4104.
- China's preliminary current account balance data for Q3 will be released tomorrow. Looking further afield, PBOC Gov Yi will speak on Saturday, while trade balance will hit the wires on Sunday.
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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.