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FxWirePro: Chinese yuan depreciates as industrial production, retail sales data miss expectations

  • USD/CNY is currently trading around 6.8920 marks.
     
  • It made intraday high at 6.8932 and low at 6.8807 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 6.8797 marks.
     
  • A sustained close above 6.8797 marks will test key resistances at 6.8975, 6.9210, 6.9396, 6.9525 and 6.9620 marks respectively.
     
  • Alternatively, a daily close below 6.8797 will drag the parity down towards key supports at 6.8525, 6.8348, 6.8210, 6.8095, 6.8020 and 6.7864 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • PBOC sets yuan mid-point at 6.8750 / dlr vs last close 6.8835.
     
  • China Nov 2018 urban investment (ytd)yy increase to 5.9 % (forecast 5.8 %) vs previous 5.7 %.
     
  • China Nov 2018 industrial output yy decrease to 5.4 % (forecast 5.9 %) vs previous 5.9 %.
     
  • China Nov 2018 retail sales yy decrease to 8.1 % (forecast 8.8 %) vs previous 8.6 %.

We prefer to take long position on USD/CNY around 6.8850, stop loss at 6.8720 and target of 6.9210.

  • ET PRO
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2019-06-26 15:32:10
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June 26 15:30 UTC Released

BRForeign Exchange Flows

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0.343 Bln USD

Forecast

Previous

2.761 Bln USD

June 26 14:30 UTC Released

USEIA Weekly Gasoline O/P

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0.089 M

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0.147 M

January 31 00:00 UTC 736800736800m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 736800736800m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 748620748620m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 736800736800m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 748620748620m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 736800736800m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 736800736800m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 736800736800m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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