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USD/CNH Marginally Weaker Yesterday

CNH

USD/CNH prints 6.96/98, little changed in today's trading.

  • Yesterday USD/CNH reflected broader US trends, firming into the close as US equities were pressured with that move centred on worry re: the U.S. bank sector, to finish ~0.1% firmer.
  • The pair unwound its post CPI/PPI gains as US Yields fell before waning risk appetite aided a bid in the USD.
  • On the upside bulls target high from 8 March at 6.9971, downside support comes in at the 20-Day EMA (6.9174).
  • The Golden Dragon Index fell ~5.4% yesterday, the aforementioned weakness in US equities weighed on the index. Onshore equities finished softer yesterday.
  • Data-wise the domestic calendar is empty today.

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