MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

MNI DATA FORECASTS: RBA, Riksbank In Focus

MNI: US ISM JAN SERVICES COMPOSITE INDEX 55.2

RBA Watch

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

US TSYS

Implied Vol Buoyed Post-NFP/ISM, Real Vol Delivered

US

President Biden To Conclude Infrastructure Tour In Philadelphia

US STOCKS

Late Equity Roundup: Early Support Evaporates Ahead Weekend

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

JPY Tops G10 FX, While Antipodeans Suffer On China COVID Protest Stories

FOREX
EM BulletFixed Income NewsHomepageBulletMarketsEmerging Markets NewsForeign Exchange News

Early Asia-Pac FX trade has been dominated by relative sensitivities to broader risk appetite & China, given the focus on the previously alluded to scenes of social unrest re: COVID restrictions witnessed across some of the major Chinese cities.

  • That leaves the USD firmer vs. all G10 counterparts, excluding JPY, with the risk-negative backdrop and Tokyo fix-related demand supporting the JPY.
  • AUD & NZD find themselves at the foot of the G10 FX performance table on the aforementioned dynamic, with softer than expected domestic retail sales data also applying some pressure to the former.
  • USD/CNH gapped higher on the previously outlined headline flow, with the cross last dealing over 500 pips higher at typing. Participants have looked through a slightly stronger than expected CNY mid-point fixing.
  • E-minis continue to pull lower, while the Hang Seng shows 3.2% lower in early Monday trade, reinforcing the above dynamics.
  • Looking ahead, headline flow surrounding the COVID situation in China and the proposed price cap on Russian crude oil will garner attention. The Dallas Fed m’fing index headlines a limited global economic docket on Monday, with comments from a raft of ECB speakers, headlined by President Lagarde, as well as Fedspeak from Williams & Bullard, also slated.
203 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Early Asia-Pac FX trade has been dominated by relative sensitivities to broader risk appetite & China, given the focus on the previously alluded to scenes of social unrest re: COVID restrictions witnessed across some of the major Chinese cities.

  • That leaves the USD firmer vs. all G10 counterparts, excluding JPY, with the risk-negative backdrop and Tokyo fix-related demand supporting the JPY.
  • AUD & NZD find themselves at the foot of the G10 FX performance table on the aforementioned dynamic, with softer than expected domestic retail sales data also applying some pressure to the former.
  • USD/CNH gapped higher on the previously outlined headline flow, with the cross last dealing over 500 pips higher at typing. Participants have looked through a slightly stronger than expected CNY mid-point fixing.
  • E-minis continue to pull lower, while the Hang Seng shows 3.2% lower in early Monday trade, reinforcing the above dynamics.
  • Looking ahead, headline flow surrounding the COVID situation in China and the proposed price cap on Russian crude oil will garner attention. The Dallas Fed m’fing index headlines a limited global economic docket on Monday, with comments from a raft of ECB speakers, headlined by President Lagarde, as well as Fedspeak from Williams & Bullard, also slated.