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CHINA YUAN: USDCNH has broken cleanly above the 6.80 level with the pair last at
6.8025 as the Jan 22 high at 6.8188 approaches. Above here would suggest further
upside to neckline support turned resistance which comes in at 6.85.
- Secretary of State Michael Pompeo noted that nations buying from Huawei could
face limits on the availability of U.S. equipment, while stopping short of
issuing an ultimatum. This comes after EU member states are considering a
possible joint response to cyber attacks allegedly conducted by a Chinese
state-linked hacker. Tech issues continue to muddy US-China trade negotiations,
but the Trump administration noted yesterday that the U.S. president still wants
to meet China's Xi Jinping 'soon' in an effort to end the trade war.
-Holiday week shopping in China hit 1.01 trillion yuan ($149 billion) according
to the Ministry of Commerce, an 8.5% y/y increase which was its slowest since at