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Free AccessUSDCNH remains slightly weaker on the day.....>
CHINA: USDCNH remains slightly weaker on the day despite the continued rise in
US short-end yields and some weakness in Chinese stocks following yesterday's
market holiday.
- The CSI failed to cling to early gains dropping back below the 3400 level to
test its 550-dma. The bullish short-term trend remains intact above the 21-dma
at 3306.
- The yuan and Chinese stocks have showed a positive correlation over recent
weeks and months, and today's combination of currency strength and equity
weakness seems unlikely to be the start of a trend.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.