The Chinese yuan continues to flex its muscles. USD/CNY broke below 6.90 on Monday, for the first time since July 22. Currently, the pair is trading at 6.8841, down 0.12% on the day. The pair lost ground as China’s trade surplus improved to 329 billion yuan ($46.8 billion) in December, up sharply from 274 billion yuan ($38.7 billion) a month earlier. Later on Tuesday, China releases New Loans.
AUD/USD has steadied on Tuesday, after falling 0.80% at the start of the week. The pair is currently trading at 0.6907, up 0.14% on the day. There are no Australian events on the schedule.
NZD/USD is trading sideways on Tuesday. The pair is trading at 0.6629, down 0.01% on the day. in economic news, New Zealand Building Consents fell by 8.5% in November, its steepest decline since July.