Free Trial

(F3) Key Resistance Remains Intact - For Now


Rally Extends


Breaches Key Short-Term Support


Trend Needle Still Points North

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

CNH Underperforms USD dip


USD/CNH briefly dipped sub 6.7400 before support emerged. This was fresh lows back to this time last week. CNH did underperform broader USD softness though. USD/CNH is just above 6.7450 currently. Beyond the high 6.7300 region, 6.7200 could be the next downside target. Also note that 6.7129 is the 50-day MA. On the topside, selling interest should still be seen between 6.7700/6.7800.

  • There are no major data releases today, with the next major release not scheduled until this coming Sunday, when official PMIs print.
  • The focus is likely to rest on the Biden/Xi call which will take place today. There is still no clarity on whether US House Speaker Pelosi's trip to Taiwan will actually take place.
  • The Golden Dragon index rose 1.7% overnight in US trading, in line with broad based equity gains, although delisting risk remains, with US-China authorities not yet reaching an agreement around auditing of China listed companies.
  • Onshore China media reports that there is a low chance of a further drop in short-term interest rates. Short term rates have been declining amid a system flush with liquidity.
  • In any event, 2yr US-CH government bond yield spreads have not been moving in favor of the USD. We are back to around +80bps, down from recent highs above +100bps.

To read the full story

Why Subscribe to

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.