Free Trial

Pressured On Thursday

CNH

CNH was pressured on Thursday as broader USD trends dominated flows. A cautious ECB and a firmer than forecast US GDP print boosted the greenback.

  • USD/CNH prints a touch below the 7.17 handle, the pair rose ~0.2% yesterday.
  • The 20-Day EMA comes in at 7.1827, a break through here opens high from July 19 (7.2368). On the downside bears look to target the low from 27 July (7.1161), the 200-Day EMA comes in at 6.9994.
  • In the equity space the Golden Dragon fell ~1.3% in the US, a reminder in yesterdays Asian session CSI300 was little changed falling 0.1%.
  • The local docket is empty today.

To read the full story

Close

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.