Trial now
CHINA RATES

China Repo Rates Jump on Tuesday: Wind

CHINA PRESS

Yuan to Maintain Near-Term Strength: Journal

CHINA PRESS

Biden May Be Consumed by Bumpy Recovery: Daily

JGB TECHS

(M1) Bullish Focus

FOREX

It was a fairly tight start to the week, with headline flow few and far between. AUD/NZD was the (relative) big mover, as it staged a foray above the psychological NZ$1.10 level for the first time in nearly two years. Apparent profit taking dragged the rate back below that round figure, which capped a subsequent bounce. NZD was wounded by New Zealand's Covid-19 situation, which resulted in a delay to the nation's general election & pre-election economic and fiscal update. Domestic QE dynamics and the RBNZ's growing openness toward negative interest rates magnified pressure to the Kiwi.

  • AUD remained among the best performers in the G10 basket, closely followed by the Scandies, amid light risk-on flows. USD was offered amid a continued deadlock in U.S. fiscal talks.
  • USD/CNH ebbed under Friday's lows, weighed on by broader greenback weakness, as the PBoC fix roughly matched expectations thus failing to generate any impetus.
  • South Korea and Indonesia observe public holidays today.
  • U.S. Empire M'fing, Norwegian trade balance and Fedspeak from Raphael Bostic headline today.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com