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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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Free AccessUSDCNH has taken out yesterday's lows.........>
CHINA: USDCNH has taken out yesterday's lows following the PBOC fix, trading at
6.8310, breaking below up trendline support from the Aug 27 low. The 55-dma at
6.8210 is the next level of support and a break below here would be a bearish
signal suggesting a potential topping pattern.
- Implied USDCNY volatility continues to plummet, trading close to three-month
lows, which suggests risk appetite is returning to the market.
- Interest rate swaps have come back in slightly this morning, with the 2-year
down 1.5bps at 3.0250%, but the uptrend remains intact.
- A continued rally in Chinese stocks would likely be needed to trigger further
yuan strength as correlations between stocks, rates, and the yuan begin to rise
once again.
To read the full story
Sign up now for free trial access to this content.
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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.