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USDCNH is tentatively breaking to the.........>

CHINA
CHINA: USDCNH is tentatively breaking to the downside of its ST contracting
range, currently trading at 6.6870. This comes even as Chinese stocks are down
by 1% across the board. 
- The CSI 300 has broken back below resistance-turned-support at 3455 and faces
the threat of a retest of its July 6 lows. 
- The 30-day rolling correlation between the CNH and the SCI 300 continues to
decline from its peak but remains very high at 0.95. Any meaningful reversal in
USDCNH would likely benefit stocks, particularly H-shares, given that they are
prices in HKD. 

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