The yuan has been losing 1.6% in the past two days amid fears of an economic slowdown. This is a solid move compared to how unexpected the bad news was. In our opinion, the appreciation of the last two days should be seen as a continuation of the trend that started at the beginning of April. At that

USD/CNH reverses from intraday high, fades bounce off three-week low. 50-HMA probes recovery inside one-week-old symmetrical triangle. 6.6560 support confluence limits immediate downside, 100-HMA adds to the upside filters. USD/CNH takes a U-turn from the daily top surrounding 6.6720 as 50-HMA tests

USD/CNH renews intraday high as it bounces off two-week low, snaps three-day downtrend. 100-SMA, 23.6% Fibonacci retracement of April-May advances challenge corrective pullback. RSI hints at a further upside, monthly support line restricts short-term declines. USD/CNH takes the bids to renew intrada

USD/CNH is showing signs of a bearish impulse on the daily chart during weekly accumulation phase.  Bears looking for bearish conditions to develop below the 21 moving average on the 4-hour time frame.  USD/CNH is on the verge of a technical sell-off in what appears to be a fresh impulse developing

AUD, NZD rebound, EUR, GBP climb, stocks steady Summary: Just another day for you and me in paradise, umm, FX land. Bid-offer spreads in early Sydney widened as FX volatility extended, picking up where it left off yesterday. At the close of trade, US bond yields eased while stocks erased losses. It

USD/JPY Rises, Asia/EMFX Climb on Upbeat Risk Sentiment Summary: The Euro (EUR/USD) and the British Pound (GBP/USD) outperformed, extending their rallies as upbeat market sentiment boosted equities and weighed on the US Dollar (USD/DXY). Sterling soared to finish at 1.2492 from 1.2325 yesterday foll

EUR Survives 2017 Low, AUD Hops Back as Risk Assets Rise Summary: Markets finished off a volatile week on Friday after the US University of Michigan Consumer Sentiment Index slid to 59.1 in May, way below April’s 65.2. It was the lowest reading since August 2011. The Dollar Index reversed lower to 1

In recent trade today, the People’s Bank of China (PBOC) left the 1-year MLF interest rate unchanged at 2.85% and set the yuan (CNY) at 6.7871 vs the previous fix 6.7898 and previous close of 6.7900. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (C

US dollar in choppy waters The dollar index had another choppy range overnight but ultimately closed nearly unchanged once again as the G-10 currency space was content to watch from the sidelines. Recessions fears being offset by lower US yields. The dollar index closed slightly higher at 104.00. Al

USD/CNH steps back from multi-day high amid mixed markets, USD pullback. PBOC Deputy Governor Chen Yulu hints at more financial support, CCP’s Han Wenxiu signals new incremental policies. Shanghai mixed unlock opportunity on community covid cases, China, Japan, South Korea highlight risks from Ukrai

US Inflation printed at 8.30% YoY overnight, less than the previous month's 8.50%, but slightly more than the 8.10% median forecast by markets. Equities vacillated after the data as the street tried to make up its mind whether to price in “peak-US-inflation,” or not. In the end, the no's won the day

USD/CNH extends pullback from 19-month high on strong China inflation data. China CPI rose 2.1%, PPI grew 8.0%, both figures crossed market consensus. Sluggish RSI, a convergence of 100-HMA and short-term rising trend line challenge bears. USD/CNH justifies strong-than-expected China inflation data

USD/CNH rises for third consecutive day to refresh the multi-day top, sidelined of late. 200-week SMA, 50% Fibonacci retracement level tests bulls amid overbought RSI. Pullback remains elusive beyond April 2021 swing high. USD/CNH prints a three-day uptrend to renew the 18-month high around 6.7475 d

US dollar slumps after as-expected FOMC A holiday in Japan will limit FX volumes in the region today. Overnight, the US dollar slumped after the FOMC hiked the Fed Funds by 0.50% as expected and signalled that 0.50% hikes are coming in the next two meetings. With the threat of 0.75% hikes off the ta