CNH: USD/CNH Breaks Lower Amid Stronger CNY Fixing Trend, Higher Equities
Aug-28 21:37
Spot USD/CNH broke definitively lower as Thursday's session unfolded. The pair getting to lows of 7....
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
ASIA: Coming Up In Asia Pac Markets On Wednesday
Jul-29 21:05
| 0200BST | 0900HKT | 1100AEST | New Zealand July ANZ Business Confidence |
| 0230BST | 0930HKT | 1130AEST | Australia Q2 CPI |
| 0230BST | 0930HKT | 1130AEST | Australia June CPI |
| 0300BST | 1000HKT | 1200AEST | South Korea June Retail Sales |
Source: Bloomberg Finance L.P./MNI
USDCAD TECHS: Pierces The 50-Day EMA
Jul-29 20:00
- RES 4: 1.4016 High May 12 / 13
- RES 3: 1.3920 High May 21
- RES 2: 1.3862 High May 29
- RES 1: 1.3798 High Jun 23 and a key near-term resistance
- PRICE: 1.3771 @ 19:05 BST Jul 29
- SUP 1: 1.3679/3557 20-day EMA / Low Jul 03
- SUP 2: 1.3540 Low Jun 16 and the bear trigger
- SUP 3: 1.3503 1.618 proj of the Feb 3 - 14 - Mar 4 price swing
- SUP 4: 1.3473 Low Oct 2 2024
A short-term correction in USDCAD remains in play. However, note that price has traded through the 50-day EMA at 1.3728. A clear breach of this average would highlight a stronger short-term reversal, exposing 1.3798, the Jun 23 high. Clearance of 1.3798 would strengthen a bullish condition. On the downside, 1.3540, the Jun 16 low, marks key support. A break of this level would resume the downtrend.
US TSYS: Treasuries Bid Ahead FOMC, Strong 7Y Sale, JOLTS Jobs Recede
Jul-29 19:57
- Treasuries look to finish near late session highs, TYU futures back at last week's highs on July 22 as markets consolidate ahead of tomorrow's FOMC rate annc.
- A strong 7Y note auction helped rates extend highs after the $44B note sale (91282CNR8) stopped through again: 4.092% high yield vs. WI of 4.120%; bid-to-cover 2.79x from 2.46x prior. Peripheral stats: Indirect take-up retreats to 62.26% vs. 76.74% prior; Direct take-up climbed to new high at 33.68% vs. 11.62% prior; Dealers fell to new low of 4.06% vs. 11.64% prior.
- First half support: Tsys extended highs briefly after lower than expected JOLTS openings, quits level lower (prior down-revised), layoffs broadly lower than expected. Prior to JOLTS, little react to Advance Goods Trade Balance, import decline and less negative goods export. Wholesale inventories slightly higher than expected, retail inventories in-line.
- Tsy Sep'25 10Y contract trades +19 at 111-11.5 vs. 111-12.5 high; nearing initial technical resistance at 111-14.5 (High Jul 22). A clear break would highlight a stronger reversal and open 111-28, the Jul 3 high. Key support remains intact at 110-08+, the Jul 14 and 16 low. A move through this support would reinstate a bearish theme.
- Curves bull flatten: 2s10s -3.051 at 44.734, 5s30s -3.148 at 95.557.
- Cross asset: Bbg US$ index firmer but off highs: BBDXY +1.65 at 1209.76 (1212.47 high); stocks moderately lower (SPX eminis -19.75 at 6403.0); gold firmer +9.30 at 3323.91.
