MNI BRIEF: BOJ: H’hold 5-Yr Inflation At 5% On Higher Prices

MNI BRIEF: China Steel Export Growth Slows In June

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1315 Fri; -1.12% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1315 FRI VS 7.1339

MNI: FRANCE JUN HICP +0.2% M/M, +2.5% Y/Y

Lower-than-expected June Inflation Strengthens Case For August Cut

MNI: SWEDEN JUN CPIF +1.3% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Greenback Gyrations Drive Most USD/Asia Crosses, Yuan Shows Resilience

ASIA FX

Friday's risk-off feel provided the initial impulse as onshore Asian markets reopened after the weekend. This early impetus dissipated through the session, with most USD/Asia crosses trimming initial gains.

  • CNH: Spot USD/CNH went offered even as the DXY edged higher. Some may have seen a softer than expected yuan fixing as a signal that the PBOC are uncomfortable with redback strength, but offshore yuan was unfazed. Likewise, the currency shrugged off reports noting that China's FX panel urged banks to curb speculative trading.
  • KRW: Spot USD/KRW punched through the KRW1,190.00 mark for the first time since Oct 14, but pared gains thereafter. South Korea's daily shipments continued to grow at a two-digit pace during the first 20 days of November.
  • IDR: Spot USD/IDR leapt higher. Econ Min Hartarto said that the gov't sees GDP growth at +4.0% Y/Y this year and +5.2% in 2022.
  • MYR: Spot USD/MYR reopened above its 100-DMA and remained above that moving average despite trimming gains. The UMNO-led Barisan Nasional alliance secured a landslide victory in Melaka state poll, sparking speculation that Malaysia could see an earlier general election.
  • PHP: Spot USD/PHP punched through its 50-DMA, posting a fresh monthly high. The peso was the worst performer in Asia.
  • THB: The baht softened even as Thailand's FinMin unveiled more optimistic growth forecasts for this year and the next. Elsewhere, Thailand's trade balance unexpectedly flipped to a deficit of $370bn in October from a surplus of $610mn.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.