-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessUSD/CNH Back Close To 20-day EMA Support Level, Official May PMIs Out Today
USD/CNH got sub 7.2500 late in Asia Pac trade on Thursday (lows of 7.2477), before consolidating somewhat. We track near 7.2500 in early Friday dealings, after posting a 0.27% gain for Thursday's session. This was broadly in line with the BBDXY's 0.23% dip (the DXY fell 0.36%). USD/CNY also pulled away from recent higher, the pair back to 7.2327 by the end of Thursday's session.
- The yuan was aided by yesterday's PBoC commentary around a 'powerful currency' and reiterating the stable backdrop. Bloomberg also reports of reported dollar selling in the offshore yuan market by China institutions. It was also noted that companies in some provinces were being discouraged from making large or bulk foreign exchange purchases.
- Another source of support came after the PBoC confirmed that it will sell low risk bonds (including government bonds) when necessary, while paying close attention to bond market conditions and any potential risks.
- A softer US yield backdrop (amid weaker data outcomes), which unfolded as the US session progressed, also helped CNH, although the bulk of the currency's gains came before these US trends emerged.
- For USD/CNH, we are close to the 20-day EMA (around 7.2485), below this the 50-day EMA sits back near 7.2410. Recent highs are at 7.2759.
- Locally today we have the official PMI prints for May. The indices are expected to tick higher (see here for more details).
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.