WWM - Analytics

    WWM

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    Yuan Retreats as Chinese Manufacturing Contracts

    CNY (onshore Yuan) traded to just over the 61.8 percent Fibonacci retracement of the Yuan's 3 1/2 year bull run (6/11/10-1/14/14).

    CNH (offshore Yuan) traded through the 76.4% Fibonacci retracement of its 3 year run (9/1/10-1/14/14).

    Chinese manufacturing PMI contracts for 10 straight months and 12 of last 13 (Caixin). 

    WorldWideMarkets

    Charts: Bloomberg

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    cnh_jan_4.png

     

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