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USDCNH remains slightly weaker on the day.....>

CHINA
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. 

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