MNI BRIEF: China Oct Retail Sales Surge On Holiday, Trade-ins

MNI: PBOC Net Injects CNY968.8 Bln via OMO Friday

CHINA PBOC CONDUCTS CNY981 BLN VIA 7-DAY REVERSE REPOS FRI

CHINA OCT INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.5% Y/Y: NBS

MNI: PBOC Sets Yuan Parity Higher At 7.1992 Fri; +0.72% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1992 FRI VS 7.1966

MNI JAPAN Q3 REAL GDP +0.2% Q/Q; MNI MEDIAN +0.2%

MNI: FED BALANCE SHEET TOTAL ASSETS -$27B TO $6.967T IN WEEK

US EIA: CRUDE OIL STOCKS EX SPR +2.09M TO 429.7M NOV 08 WK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

FOREX: Dollar Advance Trimmed, But Still Tracking Up For 7th Straight Week

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

Some modest retracement is evident in the USD as Friday's Asia Pac session unfolds. The BBDXY index was last near 1286.6, off close to 0.15% for the session. We are still up strongly for the week, +1.49%, which would market the seventh straight weekly gain. 

  • USD/JPY is back to flat, last near 156.35/40, after touching fresh multi month highs of 156.75. Earlier comments from the FinMin around FX moves have likely helped, while the market may also be assessing what BoJ Governor Ueda will say in a speech on Monday.
  • US yields are marginally off earlier highs as well, helping at the margins. Like the USD we are still up strongly for the week in yield terms.
  • AUD/USD and NZD/USD have ticked up by around 0.20%. A$ last near 0.6465, NZD at 0.5860, so both still very close to weekly lows recorded on Thursday.
  • It is a similar backdrop for most USD/Asia pairs as well, USD/CNH has tested back under7.2400, USD/KRW spot near 1400.
  • The regional equity tone is mixed. China markets are struggling after mixed Oct activity data. Japan and Hong Kong markets are higher though. 
185 words

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.

Some modest retracement is evident in the USD as Friday's Asia Pac session unfolds. The BBDXY index was last near 1286.6, off close to 0.15% for the session. We are still up strongly for the week, +1.49%, which would market the seventh straight weekly gain. 

  • USD/JPY is back to flat, last near 156.35/40, after touching fresh multi month highs of 156.75. Earlier comments from the FinMin around FX moves have likely helped, while the market may also be assessing what BoJ Governor Ueda will say in a speech on Monday.
  • US yields are marginally off earlier highs as well, helping at the margins. Like the USD we are still up strongly for the week in yield terms.
  • AUD/USD and NZD/USD have ticked up by around 0.20%. A$ last near 0.6465, NZD at 0.5860, so both still very close to weekly lows recorded on Thursday.
  • It is a similar backdrop for most USD/Asia pairs as well, USD/CNH has tested back under7.2400, USD/KRW spot near 1400.
  • The regional equity tone is mixed. China markets are struggling after mixed Oct activity data. Japan and Hong Kong markets are higher though.