Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- Political RiskPolitical Risk
Intelligence on key political and geopolitical events around the world.
- About Us
Spot USD/CNH has been boosted by U.S. President Trump's action against TikTok and WeChat. The POTUS signed off on a couple of executive orders preventing U.S. residents from doing business with the apps and their owners. The orders, which will take effect in 45 days, inspired demand for USD/CNH and the resultant move has nearly wiped out Wednesday's dynamic sell-off, which allowed the rate to show at multi-month lows.
- That being said, further gains may have been capped by a healthy and above-forecast July trade surplus reported by China. The beat vs. forecasts was driven by a solid rebound in exports, even as analysts expected shipments to edge lower.
- USD/CNH last trades +294 pips at CNH6.9732. After the formation of a (virtual) Doji candlestick and a failure to punch through Wednesday's multi-month low yesterday, bulls hope for a stronger rebound, eyeing the CNH7.0000 mark for initial resistance. Above there would open Jul 30 high of CNH7.0171. Bears need a drop through Wednesday's low of CNH6.9321 before targeting Mar 9 low of CNH6.9049.
- China will release preliminary Q2 current account balance and monthly update on foreign reserves later today.
- Main points of note on next week's Chinese calendar include inflation data (Monday) and monthly economic activity indicators (Friday).