Free Trial

USDCNH trades just off daily lows at.....>

CHINA YUAN
CHINA YUAN: USDCNH trades just off daily lows at 6.8816 last as the yuan is
boosted by constructive comments from Trump regarding trade matters and comments
to RTRS that he would view a rate hike at next week's FOMC decision as foolish.
- Technically the pair is looking set for another leg lower after holding below
the 50-dma yesterday. EURCNH is also testing the 7.80 level once again where the
200-dma resides. A close below here would be particularly bullish for the yuan.
- The yuan's recovery comes after money supply data released yesterday shows a
surge in total social financing suggesting the liquidity conditions are
improving. 

To read the full story

Close

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.