USDCNH 🇨🇳 USDCNH Holds at 7.18 Amid Mixed Data and Geopolitical Pressure
The USDCNH pair remained steady around 7.18 on Monday, as markets digested mixed economic indicators from China. While retail sales posted robust growth, industrial production disappointed, underscoring the uneven nature of the country’s economic recovery.
Meanwhile, escalating tensions in the Middle East and ongoing uncertainty surrounding U.S.–China trade relations continued to exert pressure on the yuan. In response, the People’s Bank of China set a stronger-than-expected daily reference rate and injected additional liquidity to support market stability.
From a technical perspective, as long as the pair stays below the 50-week moving average at 7.22, bearish momentum is likely to persist.
