Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

USD/CNY Back Close to 7.2500, 0.20% Away From Upper Daily Trading Limit

CNY

USD/CNY onshore spot has pushed higher in the early part of trading. The pair is near yesterday's highs close to 7.2500 (last 7.2460). Onshore spot hasn't broken convincingly above 7.2500 during the current cycle. Note with today's onshore fixing coming in at 7.1186, the upper limit on onshore spot (+2% from the fixing), is just under 7.2610, which is around 0.20% away from prevailing spot levels. Note we did get closer to the top end of the daily band back in late September.

  • There has been some spill over to USD/CNH, with the pair pushing back above 7.2600, but most of the move has come from the onshore side, which has once again helped compress the USD/CNH-USD/CNY spread.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.