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FxWirePro: Chinese yuan trades marginally higher, PBOC sets yuan mid-point at 6.8360

  • USD/CNY is currently trading around 6.8430 marks.
     
  • It made intraday high at 6.8546 and low at 6.8319 levels.
     
  • Intraday bias remains slightly bearish for the moment.
     
  • A sustained close above 6.8545 marks will test key resistances at 6.8775, 6.8938, 6.9290, 6.9414, 6.9590 and 6.9726 marks respectively.
     
  • Alternatively, a daily close below 6.8545 will drag the parity down towards key supports at 6.8300, 6.8198 and 6.8037 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
     
  • PBOC sets yuan mid-point at 6.8360 / dlr vs last close 6.8640.

We prefer to take short position on USD/CNY only below 6.8300, stop loss at 6.8550 and target of 6.8198/6.8112.

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November 19 21:00 UTC Released

KRPPI Growth

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-0.4 %

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0.3 %

November 19 21:00 UTC Released

KRPPI Growth YY

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2.2 %

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2.7 %

January 31 00:00 UTC 421796421796m

ARAnnual Primary Balance*

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January 22 19:00 UTC 433616433616m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 421796421796m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 433616433616m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 421796421796m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 421796421796m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 421796421796m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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