USD/CNH holds above the CNH7.0 mark,.....>

CHINA YUAN: USD/CNH holds above the CNH7.0 mark, last changing hands -29 pips at

CNH7.0103. Monthly LPR fixing from the PBoC is awaited at the bottom of the hour

and will provide some insight into China's response to the Covid-19 epidemic.

- Before that, the PBoC is due to set its central USD/CNY mid-point shortly.

RTRS estimates it to register at CNY7.0025; BBG projection is for CNY7.0033.

- Hubei province reported just 349 new cases with 108 additional fatalities

today after another revision to the counting methodology. The category of

"clinically diagnosed cases" has been removed and patients are only classified

as "suspected" or "confirmed."

- The 100-DMA, today at CNH7.0084, gave way yesterday and currently acts as the

nearest support level. A return below that level would open up the 200-DMA

intersecting right at the psychological CNH7.0 level, followed by trendline

support at CNH6.9930. Should these levels be taken, bears could target the

50-DMA at CNH6.9653. Meanwhile, a jump above the Feb 4 high of CNH7.0231 would

prompt bulls to take aim at a series of consecutive highs from mid-Dec in the

CNH7.0410-15 area.