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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.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Despite earlier trading in -ve...........>
CHINA YUAN: Despite earlier trading in -ve territory, USD/CNH has jumped as
onshore trading reopened after a hiatus lasting since Jan 23. USD/CNH has
punched through the CNH7.000 figure and trades +79 pips at CNH7.0058. Bulls look
at the nearby Dec 23/24 highs of CNH7.0131 as the initial target & a break here
would open the 50$ retracement of Sep 3 - Jan 20 slide/100-DMA at CNH7.0211/46.
Bears look for a pullback towards CNH6.9879, the 200-DMA.
- USD/CNH has surged in tandem with USD/CNY, which gapped ~430 pips higher at
the open & extended gains past CNY7.0, printing best levels since Xmas. USD/yuan
picked up a fresh bid around the time the PBoC cut reverse repo rates.
- Highlighted PBoC action was part of a slew of measures taken to shore up
investor confidence & ameliorate broad-based sell-off in mainland markets,
rattled by a post-LNY reaction to the Wuhan virus outbreak & related worries.
- China's Caixin m'fing PMI registered at 51.1 vs. the prior 51.5 & exp. of
51.0. However, the survey was taken before the coronavirus situation escalated.
The services gauge is due Wednesday, with Friday's trade & foreign reserves data
concluding the local data releases this week.
To read the full story
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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.