USD/CNH edges lower as China NDRC signals confidence amid external shocks

USD/CNH has softened 0.15% to 7.2890 following reassuring comments from China's National Development and Reform Commission (NDRC) regarding the country's economic resilience. The NDRC official expressed confidence in minimizing the impact of external uncertainties, acknowledging that the global environment has become more complex with challenges to trade growth. China reported improved electricity supply-demand conditions compared to last year, suggesting stable industrial activity. The official emphasized that with current and upcoming policy implementations, China is well-positioned to weather external shocks while maintaining economic stability throughout 2025. Technical indicators show USD/CNH facing resistance at 7.3100, with support established at 7.2750. The yuan's modest strength reflects cautious optimism about China's economic management, though traders remain watchful of global trade tensions and their potential impact on the export-dependent economy.