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USDCNH is having a quiet session with....>

CHINA YUAN
CHINA YUAN: USDCNH is having a quiet session with the weak PBOC fix failing to
trigger much of a reaction as the pair trades near daily lows around 6.9440.
Last week's rally keeps the broader bullish trend intact and the focus on the
Oct 31 high at 6.9805, above which the 7.0 level would come into focus. 
- A strong recovery in stocks in early trading should provide some support to
the yuan, but cross-asset correlations have edged down lately and it would take
a shift higher in rate expectations to see the rally in stocks translate to
sustainable yuan gains. 
- Money supply data is due out this week and should give an indication of the
state of China's deleveraging cycle, while FDI data may shine light on the
impact of the trade war on investment sentiment. Headlines regarding US-China
trade relations are likely to continue to dominate price action.
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