FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

CNH Unwinds Wednesday's Dip

CNH

USD/CNH has stabilized somewhat, last near the 7.1900 level. Early lows were very close to 7.1800. Current levels are still +0.60% firmer in CNH terms for the session so far, more than unwinding yesterday's move higher in USD/CNH.

  • The combination of the strongest fixing, relative to expectations since the start of November last year, and macroprudential changes designed to make it easier for capital to flow into the country, have driven the rebound.
  • These moves may also signify that the authorities don't want the China currency to weaken back towards recent highs around the 7.2850/60 area. Wednesday session highs were marked around 7.2370 in USD/CNH.
  • Some stability in USD/CNH has coincided with HK and China equities losing some of their early positive momentum. The HSI (+0.50%) and CSI 300 are still in positive territory though.
EM BulletFixed Income BulletsHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

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.