Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Chinese yuan gains on the back of higher than expected Caixin manufacturing PMI data

  • USD/CNY is currently trading around 6.7175 marks.
  • It made intraday high at 6.7239 and low at 6.7150 levels.
  • Intraday bias remains bearish till the time pair holds key resistance at 6.7373 mark.
  • A sustained close above 6.7239 marks will test key resistances at 6.7373, 6.7486, 6.7529, 6.7668, 6.7757, 6.7842, 6.8009 and 6.8122 marks respectively.
  • Alternatively, a daily close below 6.7239 will drag the parity down towards key supports at 6.7118, 6.7011 and 6.6826 marks respectively.
  • PBOC sets yuan mid-point at 6.7148/ dlr vs last close 6.7290.
  • China sets yuan mid-point at the strongest level since October 11, 2016.
  • China July Caixin manufacturing PMI final increase to 51.1 (forecast 50.4) vs previous 50.4.
  • China caixin PMI shows businesses cautious on hiring, employment falls at fastest pace in 10 months.
  • China caixin PMI shows new orders and output growth rise at fastest pace since February.

We prefer to take short position in USD/CNY around 6.7200, stop loss at 6.7373 and target of 6.7011.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2017-11-23 16:31:32
0m
2017-11-23 16:30:58
0m

November 23 21:00 UTC Released

KRConsumer Sentiment Ind*

Actual

112.3 Bln USD

Forecast

Previous

112.3 Bln USD

November 23 19:00 UTC Released

AREconomic Activity YY*

Actual

955 %

Forecast

-800 %

Previous

1755 %

November 23 23:50 UTC 9393m

JPForeign Bond Investment

Actual

Forecast

Previous

-105 Bln JPY

November 23 23:50 UTC 9393m

JPForeign Invest JP Stock

Actual

Forecast

Previous

182.4 Bln JPY

November 24 00:30 UTC 133133m

JPNikkei Mfg PMI Flash

Actual

Forecast

Previous

52.8 bln $

November 24 09:00 UTC 643643m

DEIfo Business Climate*

Actual

Forecast

116.6 %

Previous

116.7 %

November 24 09:00 UTC 643643m

DEIfo Current Conditions*

Actual

Forecast

125 %

Previous

124.8 %

November 24 09:00 UTC 643643m

DEIfo Expectations*

Actual

Forecast

108.9 %

Previous

109.1 %

November 24 09:00 UTC 643643m

ITIndustrial Orders MM SA

Actual

Forecast

Previous

8.7 %

November 24 09:00 UTC 643643m

ITIndustrial Orders YY NSA

Actual

Forecast

Previous

12.2 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.