MNI BRIEF: Frugals Block EU Feb Summit Call For Joint Funding

MNI BRIEF: BOC Rate-Cut Talk Is Premature, Macklem Says

BOC SAYS GOVT TO AMEND LAW TO ACCOUNT FOR QE LOSSES

Mixed Currency Performance Across G10 Following US Growth Data

US Treasury Auction Calendar

US EIA:NAT GAS STORAGE -91 BCF TO 2,729 BCF JAN 20 WK

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
CHILE

JPMorgan Expect BCCh To Signal Aversion To Amount Of Expected Easing

US

President Biden To Deliver Remarks On Economy

PIPELINE

$3.65B USB 2Pt Launched

USDJPY TECHS

Sights Are On The Bear Trigger

FOREX

Mixed Currency Performance Across G10 Following US Growth Data

EURGBP TECHS

Support Remains Intact

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

China Tweaks ZCS, Risk-Positive Flows Ensue

CROSS ASSET
EM BulletHomepageCommoditiesEquitiesAT&T Market NewsBank of America Market NewsEmerging Markets NewsBulletMarketsFixed Income NewsForeign Exchange News

News of China’s freshly optimised COVID restrictions (which include a rollback of the country’s international travel restrictions and reduced quarantine time for international travelers) has resulted in a fresh round of risk-positive flows ahead of London dealing, building on the theme witnessed in early Asia-Pac dealing. A reminder that such adjustments had been flagged via news wire source reports in recent days.

  • Gains in the Hang Seng (+8%) are particularly impressive, with a surge in Chinese property developer stocks noted.
  • E-minis are through Thursday’s post-CPI highs, while USD/CNH has broken comfortably below yesterday’s base.
  • Commodities trade sees SGX iron ore print 6% higher on the day, while WTI futures are over $2 better off.
  • A reminder that the Chinese authorities had pointed to a need to fine-tune ZCS, with the more targeted restrictions aiming to limit the economic impact of COVID. Today’s move came even as the country lodged a fresh multi-month high in new COVID cases, with the localised restrictions in the current COVID hotspot of Guangzhou flagging a lighter touch approach from the authorities (with a city wide lockdown avoided, at least for now).
  • Sell-side consensus continues to look for a broader re-opening of China at some point in the Spring.
198 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

News of China’s freshly optimised COVID restrictions (which include a rollback of the country’s international travel restrictions and reduced quarantine time for international travelers) has resulted in a fresh round of risk-positive flows ahead of London dealing, building on the theme witnessed in early Asia-Pac dealing. A reminder that such adjustments had been flagged via news wire source reports in recent days.

  • Gains in the Hang Seng (+8%) are particularly impressive, with a surge in Chinese property developer stocks noted.
  • E-minis are through Thursday’s post-CPI highs, while USD/CNH has broken comfortably below yesterday’s base.
  • Commodities trade sees SGX iron ore print 6% higher on the day, while WTI futures are over $2 better off.
  • A reminder that the Chinese authorities had pointed to a need to fine-tune ZCS, with the more targeted restrictions aiming to limit the economic impact of COVID. Today’s move came even as the country lodged a fresh multi-month high in new COVID cases, with the localised restrictions in the current COVID hotspot of Guangzhou flagging a lighter touch approach from the authorities (with a city wide lockdown avoided, at least for now).
  • Sell-side consensus continues to look for a broader re-opening of China at some point in the Spring.