EUR/CNY steady as Xi calls for EU-China cooperation on trade

EUR/CNY remains stable near 7.8850 following Chinese President Xi Jinping's diplomatic overtures to the European Union regarding trade relations. Xi emphasized that China poses no fundamental threat to EU interests and called for open trade and investment markets between the regions. The Chinese leader specifically requested the EU to provide a favorable business environment for Chinese enterprises while respecting China's core interests. Markets are closely monitoring EU-China trade dynamics amid ongoing tensions over electric vehicle tariffs and technology transfers. Xi's willingness to cooperate on AI development and climate change initiatives could ease some friction points. Technical indicators show EUR/CNY consolidating in a tight range between 7.8750-7.8950, with traders awaiting concrete policy developments. Any breakthrough in trade negotiations could see the pair test support at 7.8650, while escalating tensions might push it toward resistance at 7.9100.