USD/CNH has edged a little higher through the first part of Friday trade. We were last near 7.1580, close to 0.15% weaker in CNH terms. The CNY fixing was again close to neutral. Both China and Hong Kong equities have softened in the first half of the session, but are still up for the week. The market awaits details around further stimulus details at the conclusion of the NPC. A press conference is to be held in Hong Kong at 4pm to discuss the raising of the ceiling on local government debt to replace hidden debt.
Find more articles and bullets on these widgets:
| Date | UK | Period | Event |
| 11-Oct | 0700 | Aug | GDP / Services / Production / Trade / Construction |
| 14-Oct | 0730 | --- | BoE Dhingra At Bank of India Conferece |
| 14-Oct | --- | --- | International Investment Summit |
| 15-Oct | 0700 | Aug / Sep | Labour Market Survey |
| 16-Oct | 0700 | Sep | Consumer / Producer Prices |
| 18-Oct | 0700 | Sep | Retail Sales |
| 22-Oct | 0700 | Sep | Public Sector Finances |
| 24-Oct | 0930 | Oct | S&P Global/ CIPS UK Flash PMI |
| 25-Oct | 0001 | Oct | Gfk Monthly Consumer Confidence |
| 29-Oct | 0001 | Oct | BRC Monthly Shop Price Index |
| 29-Oct | 0930 | Sep | BOE M4 / Lending to Individuals |
| 30-Oct | --- | --- | UK Budget |
| 01-Nov | 0930 | Oct | S&P Global/ CIPS UK Final Manufacturing PMI |
| 05-Nov | 0930 | Oct | S&P Global/ CIPS UK Final Services / Composite PMI |
| 06-Nov | 0930 | Oct | S&P Global/ CIPS UK Construction PMI |
A short-term bearish threat in Schatz futures remains intact following the reversal from the Oct 1 high. The contract has traded through the 20-day EMA and breached 106.815, the Sep 18 low. The break of this level signals scope for a deeper retracement to 106.712, a Fibonacci retracement. On the upside, initial resistance to watch is 106.970, the 20-day EMA. A clear break of it would signal a possible reversal.