MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A$ Underperforms As US Equities Sell Off Post Fed

AUD

AUDUSD benefited from the perceived dovish 25bp Fed hike and spiked to 0.6759 but once US equities began to pull back Aussie fell to 0.6679. It is now trading around 0.6684. The USD weakened on the FOMC decision and the index is down 0.7%.

  • The correction in AUDUSD has been shallow and so bearish trend conditions remain intact. The 0.6748 resistance level was broken following the Fed but wasn’t sustained. Initial support is at 0.6590.
  • Aussie underperformed the G10, except CAD. AUDJPY is 0.6% lower to 87.84. AUDEUR is down 0.6% to 0.6158 and AUDGBP is down 0.2% to 0.5449. Aussie is down 0.2% against kiwi to 1.0746.
  • Equity markets were mixed with Europe higher (Eurostoxx +0.3%, FTSE +0.4%) but US down (S&P -1.7%, Nasdaq -1.6%). The US rose on the Fed announcement but then declined sharply. Oil continued to recover with WTI up to $70.90/bbl. Copper rose 1.1%. Iron ore is around $121-122/t after starting the week over $130.
  • There is nothing scheduled in Australia today. Tomorrow the Judo Bank preliminary March PMIs print.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.