FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Market Disappointed By No Cut In 5-Year LPR In China

CROSS ASSET

The USD has firmed alongside pressure on Tsys and US Equity Futures after the Chinese 5-Year Loan Prime Rate was left on hold (at 4.20%), a 15bps cut had been expected. The 1-Year LPR was cut to 10bps to 3.45%, a 15bp cut had been expected.

  • The USD trimmed early losses on the release, the Antipodeans were pressured AUD/USD briefly fell below the $0.64 handle before paring losses to sit little change. Kiwi sits a touch off session lows, support was seen in NZD/USD ahead of $0.5904 the YTD low.
  • USD/CNH pared gains, however ranges remain narrow thus far and the pair last sits at 7.31/32. The PBOC continued its Yuan support with another stronger than forecast CNY fix. China and Hong Kong equities have opened up weaker (the HSI off 1%.).
  • E-minis sit little changed from opening levels, having been up as much as ~0.2%, NASDAQ futures trimmed a ~0.3% gain to sit up ~0.1%.
EM BulletHomepageCommoditiesEquitiesEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
EM BulletHomepageCommoditiesEquitiesEmerging Market NewsBulletMarketsFixed Income BulletsForeign 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.