Free Trial

CNH snaps winning streak as US.....>

EMERGING MARKETS
EMERGING MARKETS: CNH snaps winning streak as US signals no tariff relief
- USD/CNH bounced off the multi-month low printed yesterday as markets responded
to news that the signature of the phase one trade deal today does not mean that
the White House will consider any reduction in the current tariff schedule on
China, but only after phase-two talks wrap up with a deal. USD/CNH traded just
above the 6.90 mark in early Asia, but the European session saw the rate drift
back to the Tuesday highs.
- The moves in China have filtered through to broader risk sentiment, prompting
some modest weakness in the likes of TRY and RUB. Asia-Pac FX price action was
more muted, although further weakness has gone through in PHP as markets ponder
the impact of this week's volcano eruption on the domestic economy. 
- South African and Brazilian retail sales numbers are due as well as Israeli
CPI.

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.