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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUSD/CNH shot higher on Thursday as.......>
CHINA YUAN: USD/CNH shot higher on Thursday as Sino-U.S. tensions flared up.
China confirmed that it plans to prepare legislation, which would effectively
crack down on Hong Kong's autonomy, which provoked the POTUS & U.S. lawmakers to
pledge imminent retaliation. Against this backdrop, jitters surrounding U.S.
"Delisting Bill", Huawei or the origins of the coronavirus outbreak became even
more acute.
- USD/CNH has shed 22 pips and sits at CNH7.1302, still not too far from
yesterday's best levels. A rally above May 18 high of CNH7.1448 would give bulls
a green light for targeting May 4 high of CNH7.1561. On the flip side, bears
look for a drop below May 20 trough/50-DMA at CNH7.0985/63, which would bring
May 8 low of CNH7.0812 into play.
- China's National People's Congress convenes today and the question everyone is
asking is whether off'ls will set a numerical GDP target for this year or opt
for a multi-year target/qualitative goal. China's plans for stimulating economic
recovery are another thing to watch.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.