USDCNH saw some downside on the back of BBG...>

CHINA: USDCNH saw some downside on the back of BBG headlines that noted a

potential 60 day extension to the trade tariff deadline, but the pair has failed

to hold such gains having failed to take out yesterday's lows. Pair last trades

at 6.7740. Strong trade figures failed to act as much of a market mover despite

the beat in exports, imports, and the trade balance. 

- Yuan crosses have outperformed with EURCNH strengthening its downtrend and

CNHKRW breaking back above 166 to trigger a potential bullish continuation

pattern. 

- Bond futures fell sharply on the trade talk headlines, with the 10 year down

24bps on the day breaking below its 21-dma to suggest that rising risk appetite

is finally beginning to weigh on the space. 

- Equities have traded in a tight range and are largely flat despite the

positive headlines as they consolidate recent impressive gains. 

- Worth noting that Hu Xijin, Global Times editor, tweeted that 'I learned from

source close to China-US trade talks that speculations of trade negotiations

will be extended are inaccurate'.