Free Trial

USD/CNH Tracking Lower, Eyeing Test Of Tuesday Lows Around 7.1260

CNH

USD/CNH has continued to track lower. The pair around 7.1320 at the time of writing, right on session lows. CNH is up around 0.30% at this stage for the session to date. Broader USD sentiment is aiding the mover, with the BBDXY off 0.12% amid a softer US yield tone and higher US equity futures providing cross-asset support.

  • Hong Kong and China equities are also higher, the HSI last +1.0%, CSI 300 around +0.30%. The CNY fixing error also re-widened.
  • For USD/CNH Tuesday session lows were around 7.1260, which could be a target on the downside if we see further USD losses.
  • June industrial profits data printed at -8.3% y/y, versus -12.6% for May.

To read the full story

Close

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.