MNI BRIEF: Japan’s H’hold Financial Assets Hit Record High

MNI BRIEF: Fed Says All Largest 31 US Banks Pass Stress Tests

MNI BRIEF: Panetta Says ECB On Course For Inflation Target

MNI BRIEF: China Yuan Supported By Exports, Short Swing Sees

MNI BRIEF: RRR Trim A Better Option Than Rate Cut Now: BOC

MNI China Daily Summary: Wednesday, June 26

Japan May Retail Sales +3.0% Y/Y

Offshore & Local Investors Dump Bonds

MNI JAPAN MAY RETAIL SALES +3.0% Y/Y; APRIL +2.0%

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

Lower Lows

CHINA YUAN

USD/CNH shows below Wednesday's worst levels on the broader round of modest USD weakness, printing as low as CNH6.8759 before pulling back above CNH6.8800. Little in the way of real technical support eyed until the current YtD low of CNH6.8457, with any break there opening up the 38.2% retracement of the move from the 27 March 2018 low to the 27 May 2020 high (CNH6.8296).

  • Wednesday's move lower was at least briefly limited by the latest round of Chinese missile testing in the South China Sea, and a fresh round of U.S. sanctions on Chinese corporate entities/sabre rattling from the U.S. powers that be.
  • Little of any real note on the Chinese docket today, with industrial profit data due. Elsewhere, the PBoC is talking up the usage of CNY in trade and investment.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange Bullets

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.