- USD/CNH bounced off 7.12 in the London morning to 7.1645.
- Global Times reported that the Chinese delegation would be cutting their trip short by a day.
The markets are somewhat quiet considering the leg work was done in the European and US session following numerous trade headlines and key data, Us events which were soaked up by the time Asia come online.
Trade talks sentiment turn sour
The main takeaway, as far as the Yuan goes, came in the negative press over this week's trade talks between the US and China that are scheduled for the end of the week. Moreover, The Global Times reported that the Chinese delegation would be cutting their trip short by a day, which just goes to show the lack of a sense of urgency nor commitments between the two nations have residing over their trade disputes.
"The US State Department announced, ”Visa restrictions on Chinese government and Communist Party officials who are believed to be responsible for, or complicit in, the detention or abuse of Uighurs, Kazakhs, or other members of Muslim minority groups in Xinjiang, China.” USD/CNH bounced off 7.12 in the London morning to 7.1645 after the visa news, the yuan’s -0.4% fall the weakest in Asia," analysts at Westpac explained.
|Today last price||7.1561|
|Today Daily Change||-0.0084|
|Today Daily Change %||-0.12|
|Today daily open||7.1645|
|Previous Daily High||7.1674|
|Previous Daily Low||7.1186|
|Previous Weekly High||7.1588|
|Previous Weekly Low||7.1073|
|Previous Monthly High||7.1967|
|Previous Monthly Low||7.0311|
|Daily Fibonacci 38.2%||7.1488|
|Daily Fibonacci 61.8%||7.1372|
|Daily Pivot Point S1||7.1329|
|Daily Pivot Point S2||7.1014|
|Daily Pivot Point S3||7.0841|
|Daily Pivot Point R1||7.1817|
|Daily Pivot Point R2||7.199|
|Daily Pivot Point R3||7.2305|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.