USD/CNH last deals at CNH6.7389,.........>

CHINA YUAN: USD/CNH last deals at CNH6.7389, unchanged on the day.

- Official Chinese m'fing, non-m'fing & composite PMI readings, as well as

Caixin m'fing PMI, provide today's focal point in China.

- As a reminder, the next round of Sino-U.S. trade talks gets underway in

Beijing later today, with U.S. TR Lighthizer and U.S. Tsy Sec Mnuchin set to

meet with Chinese VP Liu. On Monday, Mnuchin told Fox Business that enforcement

mechanisms of a bilateral trade deal are "close to done," although some sticking

points remain. He noted that the "next two rounds in China and in D.C." will

hopefully bring "the point where we can either recommend to the president that

we have a deal or make a recommendation that we don't."

- The last two months have seen USD/CNH consolidate within CNH6.6700-CNH6.7500,

with a breach of the upper end of the range only noted last week. A clean break

above CNH6.7500 would open up the 100-DMA at CNH6.7671, which has been intact

this year. Meanwhile, bears look for a slide through the 21-DMA at CNH6.7197.

Below here would expose CNH6.7000, which provided a layer of technical support

several times through Mar & Apr.