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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: PBOC Net Injects CNY25.7 Bln via OMO Thursday
MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday
MNI ASIA OPEN: Late Rate & Stock Rally, 5Y Sale Well Received
Onshore Markets Re-Open, Spot USD/KRW to Play Catch Up
Onshore markets re-open today. The 1-month NDF closed in NY at 1254.4, slightly above end Asia-session levels. The last spot close was 1242.4, so no doubt there will be some catch up today.
- While broader equity sentiment was positive, the lead from tech was more mixed. The SOX and MSCI tech indices were flat, however, China's Golden Dragon index did rise by 5.4%. This should aid tech related sentiment in the Asia Pac region to some degree today.
- USD/KRW 1-month NDF followed the broader USD moves. The focus was on higher US yields, while continued yen weakness will also be a focus point today. USD/JPY is up to 132.25/30, +0.30% on NY closing levels.
- To the extent Korea and Japan share export markets, USD/KRW and can be influenced by yen moves via the competitiveness channel. The 1258/59 region could be eyed today.
- Earlier, FX reserves fell to $447.71bn in May, down from $449.30bn in April. The rate of decline moderated in May. There is no other data out today.
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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.