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USD/CNH reverses earlier gains and.......>

CHINA YUAN
CHINA YUAN: USD/CNH reverses earlier gains and slips into negative territory as
official non-manufacturing PMI prints at 54.1, topping expectations of 53.0 &
the prior reading of 53.5. Manufacturing PMI was in line with estimates, right
at the 50.0 breakeven level.
- Chinese Statistics Bureau highlighted that the survey was conducted before Jan
20 and thus may have not captured the full impact of coronavirus.
- The rate last trades at CNH6.9764, 66 pips lower on the day & struggling to
fall further below the 50-DMA at CNH6.9768. A clean break here would bring the
Jan 29 the Jan 29 low of CNH6.9532 firmly into the focus.

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