Free Trial

Key Support Zone Holds - For Now


Watching The 50-Day EMA


SOFR/Treasury Option Roundup

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
CHINA YUAN: USDCNH remains on the front foot ahead of the PBOC fix, trading at
6.8807, with the August 24 peak at 6.8955 the next level of resistance for the
pair. A break above here would suggest a retest of the August 15 high of 6.9586
and put the question of intervention back on the table. 
- The yuan's weakness yesterday came despite a large rise in Chinese rates, with
the 2 year breaking to the upside to touch 3.0% at one point before settling at
2.97%. Rising US yields kept the China-US spread at minimal levels, with the
spread currently at 3.8bps. 
- This has seen the 21-day rolling correlation between CNHUSD and Chinese 2-year
swaps fall to 0.27. The CNHUSD-CSI300 correlation rose back to 0.35 following
the decline in both markets. 

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.