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EUROZONE T-BILL ISSUANCE

Bill Supply for W/C 6 December, 2021 (2/2)

EURJPY TECHS

Arrives At Its 20-Day EMA

EUROZONE T-BILL ISSUANCE

Bill Supply for W/C 6 December, 2021 (1/2)

USDJPY TECHS

Monitoring The Bullish Engulfing Candle

US TSYS

Firmer Into Europe, Familiar FV Block Seller Seen

EURGBP TECHS

Probes Key Resistance

CHINA FX
CHINA FX: USDCNH remains close to recent highs, currently trading at 6.4522
which coincides with its 200DMA. The escalation of the China-US trade conflict
has failed to significantly impact the pair. However, risks appear tilted to the
downside for the yuan from both a short- and medium-term perspective. 
- Last week USDCNH took out a major resistance zone between the May 30 high of
6.4340 and the September 2017 low of 6.4430. Should the 200DMA give way, which
looks increasingly likely, this would confirm the beginning of a yuan bear
market. 
- While the currency pair has not been particularly responsive to the
increasingly intense trade spat between China and the US, on balance it is
likely to prove yuan negative given the country's higher degree of trade
openness and reliance on price-competitive exports. There is also a small but
growing risk that Beijing looks to combat trade tariffs by weakening the yuan in
order to maintain its export competitiveness.