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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 AccessSpot USD/CNH Hovers Above Cycle Low
Spot USD/CNH has slipped under yesterday's low and last trades -17 pips at CNH6.3294, hovering above the cycle low printed earlier this week.
- A fall through the aforementioned cycle low of CNH6.3249 would expose May 11, 2018 low of CNH6.3198. Conversely, the initial bullish target is provided by the CNH6.3625/26 area, which limited gains on Jan 18/19.
- The PBOC fix matched expectations today, while China's central bank injected net CNY100bn of liquidity via OMOs as Lunar New Year holidays draw nearer.
- There is nothing of note on China's economic docket ahead of the release of industrial profits on Thursday, with official PMIs & Caixin M'fing PMI due to follow on Sunday.
To read the full story
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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.