© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Firms Won't Feel Credit Crunch Soon -Atl Fed Survey

MNI BRIEF: Long Mortgages Still Leave Canadians With Big Bills

COLLINS: DECLINE SO FAR IN INFLATION SLOWER THAN ANTICIPATED

MNI: FED BALANCE SHEET TOTAL ASSETS -$20.5B TO $8.436T

MNI: TREASURY GENERAL ACCOUNT $49.5B MAY 24 VS $76.5B PREV DAY

US Treasury Auction Calendar

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

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 Access
Trending Top 5
Market News Topics

USD/CNH Close To Downside Test Of 200-Day EMA, Xi's Russia Visit Continues

CNH
EM BulletFixed Income NewsHomepageBulletMarketsEmerging Markets NewsForeign Exchange News

Monday session highs in USD/CNH came in around the APAC/EU cross over, with the pair topping out around the 6.9070 level. From there we retraced back towards 6.8700 but couldn't breach this level, and we currently sit around 6.8750, which is within recent ranges for the pair. CNH gained just under 0.2% for Monday's session, although the NEER (J.P. Morgan index), slipped 0.2% to 125.82.

  • From a technical standpoint, the 200-day EMA sits nearby in the low 6.8700 region. Breaks sub the 200-day EMA haven't been sustained through March. Other key EMAs sit higher, capped by the 100-day around 6.9080.
  • The local data calendar is empty for the next few sessions. Focus is likely to rest on President Xi's trip to Russia, which started yesterday and continues for the next 2 days.
  • Focus remains on closer ties between the two countries, as well as China efforts to help end the conflict in the Ukraine.
  • In the equity space, the China Dragon index lost 1.07% in Monday trade, underperforming the generally positive equity elsewhere (although tech related plays lagged more broadly).
179 words

To read the full story

Why Subscribe to

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.

Monday session highs in USD/CNH came in around the APAC/EU cross over, with the pair topping out around the 6.9070 level. From there we retraced back towards 6.8700 but couldn't breach this level, and we currently sit around 6.8750, which is within recent ranges for the pair. CNH gained just under 0.2% for Monday's session, although the NEER (J.P. Morgan index), slipped 0.2% to 125.82.

  • From a technical standpoint, the 200-day EMA sits nearby in the low 6.8700 region. Breaks sub the 200-day EMA haven't been sustained through March. Other key EMAs sit higher, capped by the 100-day around 6.9080.
  • The local data calendar is empty for the next few sessions. Focus is likely to rest on President Xi's trip to Russia, which started yesterday and continues for the next 2 days.
  • Focus remains on closer ties between the two countries, as well as China efforts to help end the conflict in the Ukraine.
  • In the equity space, the China Dragon index lost 1.07% in Monday trade, underperforming the generally positive equity elsewhere (although tech related plays lagged more broadly).