USD/CNH has edged higher, getting........>

CHINA YUAN: USD/CNH has edged higher, getting closer to snapping its nine-day

uninterrupted losing streak. The PBoC fix was slightly softer than expected

today, allowing the pair to extend and consolidate gains. 

- U.S. Senate Finance Committee Chair told RTRS that the U.S. should give China

some leeway in delivering on its commitments under phase-one trade deal. He

added that the Covid-19 outbreak may delay the onset of phase-two talks.

- Those trying to assess the rate of China's return to work should be cautious.

There has been talk of Chinese companies trying to fake meeting targets imposed

by the authorities by artificially boosting electricity consumption. Caixin

cited "company insiders & local civil servants" speaking to that effect.

- USD/CNH trades +138 pips at CNH6.9369 at typing. A surge through the 23.6%

retracement of the recent slide off the Feb 21 peak, located at CNH6.0505, would

draw attention to the  50-DMA at CNH6.9643. Bears look for a pullback & drop

below yesterday's low of CNH6.9176, which would bring the CNH6.9 mark into play.

- Looking ahead, China reports its trade data on Saturday.