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USDCAD TECHS

Bear Leg Extends

AUDUSD TECHS

Northbound

ARGENTINA

August Economic Activity Rises 1.1% M/m

CHINA YUAN
CHINA YUAN: USDCNH is broadly flat in early Asian trading, last dealing at
6.8220 and remaining close to its highs. Bulls need a push above recent cyclical
highs of 6.8450 to trigger a potential fresh round of strength. 6.7380 will act
as major support given how strongly the pair bounced off this level yesterday. 
- Chinese interest rate swaps have opened lower today, with the 1-year at
2.8050%, falling back into its downtrend, with its spread over the US falling to
a new low of 13bps. It is difficult to see the yuan mounting any sustainable
bounce while ever this trend in rates remains intact.