Free Trial
BUND TECHS

(Z2) Remains Vulnerable

MNI EXCLUSIVE

China Must Lift Growth To Curb Capital Outflow

ASIA FX

Divergence With CNH Persists

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

USD/CNH Edges Up, Fixing & PMIs Coming Up, Before Holiday Period Next Week

CNH

USD/CNH has seen buying interest since the open, as has been the pattern this week, although flows are arguably more modest today. The market may be a little more wary given the overnight intervention warning. We were last at 7.1120, around +0.20% on NY close levels.

  • From a level’s standpoint, highs just under 7.1500 could cap the topside in the near term, as we couldn't get past this level post the intervention warning late yesterday. On the downside, last Friday's low comes in just under 7.0800. Beyond that is the low 7.0600 region.
  • Today's USD/CNY fix will be the last until the 10th of October, as China onshore markets are closed for all of next week.
  • Shortly after the fixing, the September PMI's will print.
125 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

USD/CNH has seen buying interest since the open, as has been the pattern this week, although flows are arguably more modest today. The market may be a little more wary given the overnight intervention warning. We were last at 7.1120, around +0.20% on NY close levels.

  • From a level’s standpoint, highs just under 7.1500 could cap the topside in the near term, as we couldn't get past this level post the intervention warning late yesterday. On the downside, last Friday's low comes in just under 7.0800. Beyond that is the low 7.0600 region.
  • Today's USD/CNY fix will be the last until the 10th of October, as China onshore markets are closed for all of next week.
  • Shortly after the fixing, the September PMI's will print.