MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

BoE Data Watch

BoJ Data Watch

Fed Data Watch

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

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

Incremental Risk-On Impulse Dents Yen

FOREX

A bout of light risk-on flows manifested in G10 FX price action around the Tokyo fix, with the equity space seemingly supported by Tuesday's confirmation that Taiwan will activate its stock stabilisation fund. The lack of new COVID-19 cases outside of quarantine facilities in Shanghai may also have been deemed risk-positive.

  • Spot USD/JPY has gone bid over the Tokyo fix, running as high as to Y135.25. Nearest resistance levels (recent cycle high/round figure of Y137.75/138.00) remain some way off, but the yen slumps to the bottom of the G10 pile.
  • The greenback still leads gains at the margin, with the BBDXY generally holding above neutral levels through the early part of the Asia-Pac session. U.S. Tsys have gently cheapened across the curve.
  • The commodity-tied FX bloc has recovered from worst levels, although the NOK has struggled to follow that pattern. The NZD is the second-best performer in the G10 basket as the RBNZ's monetary policy review draws near.
Energy BulletsCommodities
Energy BulletsCommodities

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.