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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
MNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
Lags USD Sell-Off, Caixin Manufacturing PMI On Tap Today
CNH lagged the USD sell off through the NY session. The pair held above 6.7500, little changed for the session, despite the ~-0.20% pullback in USD indices. We last sat around 6.7560, while the CNY NEER was flat (125.71, J.P. Morgan index).
- Today we have the Caixin manufacturing PMI on tap. The market consensus is for a 49.8 print, versus 49.0 prior.
- Citi's China surprise index continues to recover, after yesterday's services PMI beat, with the index now at 47.20, highs back to May last year.
- Elsewhere the China Dragon index fell by 0.09%, the third straight fall, despite generally positive sentiment elsewhere. The Biden administration is reportedly considering cutting off Huawei from all US suppliers.
- While Canadian pension fund Ontario Teachers is pausing direct investment in private China assets but will continue to invest in listed securities.
- China Premier Li Keqiang called on the PBoC to keep the yuan basically stable and the economy operating in a reasonable range.
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.