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Why MNI
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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 AccessRangebound With LPRs Left Unchanged
Spot USD/CNH has slipped and then trimmed losses, it last trades at CNH6.5730, 41 pips worse off on the day. A softer than estimated fixing of the central USD/CNY mid-point (CNY6.5786 vs. BBG est. of CNY6.5756) has helped the pair move away from session lows, while 1-Year & 5-Year LPRs were left unchanged, in line with expectations.
- A fall through Nov 18 low of CNH6.5321 and channel floor at CNH6.5228 would put bears back in the driving seat, clearing the way to the psychological CNH6.5000 level. On the flip side, a jump above Nov 12 high of CNH6.6349 would encourage bulls to target Nov 9 high of CNH6.6495, while bringing channel top at CNH6.6567 into view.
- Data-wise, focus next week turns to China's industrial profits, due Friday.
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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.