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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
USD/CNH Underpinned To Start '24
USD/CNH remains underpinned, with negative sentiment surrounding Chinese equities, mixed PMI releases (disappointment surrounding the official suite of surveys was the focal point there), swelling expectations for deeper monetary easing from the PBoC and focus on December’s PSL injection feeding in on the local China side, alongside broader USD strength to start ’24.
- Note that the PBoC deployed a slightly firmer lean vs. CNY weakness via its USD/CNY mid-point fixing earlier on Wednesday, which provided brief support. The bias was nowhere near as firm as what was seen during parts of H223.
- Initial firm resistance is at CNH7.1636, the Dec 22 high, has been breached, with the rate looking through CNH7.1700 at typing.
- The move has also seen leg above the 200-DMA. A close above there would allow bulls to target mid-Dec daily highs and psychological resistance around CNH7.20.
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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.