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USD/CNY: Upward pressure may increase on NFP, PBOC easing

FXStreet (Bali) - People’s Bank of China (PBOC) set the yuan reference rate at 6.3578 vs Friday's close of 6.3530 and last fix at 6.3459.

Bearing in mind the strong US NFP last Friday, coupled with expectations for further easing by the PBOC as the economy continues to show signs of weakness, it should result in upward pressure in the USD/CNY exchange rate going forward.

Japan Labor Cash Earnings (YoY) rose from previous 0.5% to 0.6% in September

Japan Labor Cash Earnings (YoY) rose from previous 0.5% to 0.6% in September
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EUR/USD bids holding ground vs gravity on 1.0700

EUR/USD is currently trading on the bid at the mid-point of the 1.07 handle with a high of 1.0744 and a low of 1.0719. EUR/USD is firm on the 1.07 handle although trying to defy gravity and significant fundamentals after the Nonfarm Payrolls data had pretty much confirmed grounds for a 2015 hike from the Fed.
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