One-month risk reversal on USD/CNY, a measure of the spread between prices drawn by call options (bullish bets) and put options (bearish bets), turns positive for the first time after April 13, to +0.050 the latest, per data source Reuters.
This goes hand-in-hand with the latest USD/CNY moves as the quote extends recovery moves from March 13, tested the previous day, while flashing the strongest intraday gains in two weeks, up 0.12% on a day around 6.4983 by the press time.
While the options market suggests the return of bulls, backed by recent risk-on mood, traders keenly await the preliminary readings of April activity numbers for fresh impulse.
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