MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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

Caixin Services PMI Beat Stabilizes Risk Appetite, But Limited Follow Through

CHINA DATA

The better than expected Caixin China Services PMI (57.1 versus 56.4 prior and 55.2 expected), has helped stabilize risk appetite. USD/CNH is back sub 7.1100, after printing as high as 7.1205. AUD/USD is back above 0.6600, while NZD/USD is back close to 0.6060. Both pairs remain down versus Friday closing levels, but are above session lows.

  • Hong Kong stocks are holding positive, last around 19000, but are off session highs. The property related bounce from Friday has unwound to some extent today, which has also weighed on mainland shares. US futures remain negative.
  • Broader USD sentiment is still being supported by a firmer yield backdrop, the 2yr close to 5bps higher at 4.54%. This in turn is likley limiting positive follow through from the Caixin beat.
Energy BulletsCommodities
Energy BulletsCommodities

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.