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

MNI: China CFETS Yuan Index Up 0.07% In Week of Sep 1

MNI: PBOC Net Drains CNY320 Bln Monday via OMO

CHINA PBOC INJECTS CNY12 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: AUSTRALIA Q2 BIZ INDICATORS INVENTORIES -1.9%

MNI: US ISM AUG MANUF PURCHASING MANAGERS INDEX 47.6

MNI: US S&P FINAL AUG MANUF PMI 47.9 (FLASH 47.0); JUL 49.0

MNI BRIEF: China Will Look To Belt & Road Amid Trade Tensions

MNI BRIEF: BOC Staff Paper Sees Few Signs Of 'Greedflation'

MNI BRIEF: Canada Raises Bank Capital Buffer On Housing Risk

NZD Extends Post-RBNZ Weakness, USDJPY Pierces 140.00 Handle

FOREX
  • Overall greenback strength continues to prevail across currency markets with the USD index extending its winning streak to four sessions, up 0.35% on Thursday. The index is now roughly 3.25% off the May lows as the greenback reasserts itself against its G10 counterparts.
  • NZD remains at the bottom of the G10 pile, showing good downside momentum following the significant moves following the RBNZ on Wednesday. Price is now through the year’s lows which turns the focus to the psychological 0.60 mark, a good pivot dating back to September last year.
  • USDCNH has touched another fresh year-to-date high as the pair settles above the 7.09 amrk amid the general greenback appreciation and ongoing concerns over domestic growth. State-owned Chinese media outlets have once again pushed back on the idea of further sharp depreciation pressures for the yuan, with analysts cited in the report continuing to point to China’s positive economic fundamentals and expectations surrounding the end of the Fed’s easing cycle
  • Japanese yen weakness has also once again been consistent over the course of the US session with USDJPY steadily moving higher since the release of US data. Bullish conditions remain intact, and a fresh trend high reinforces the current theme. The 140.01 high print as of writing places the pair at the highest level since November 23, 2022.
  • With 140.00 the next obvious psychological barrier to overcome, major resistance does not come in until 140.62, the bull channel top drawn from the Jan 16 low.
  • Tokyo Core CPI highlights the APAC docket on Friday before UK retail sales for April hit the wires. Attention will then turn to US Core PCE Price index data, durable goods, personal income and U/Mich sentiment figures.
EM BulletFixed Income NewsHomepageBulletMarketsEmerging Markets NewsForeign Exchange News

To read the full story

Why Subscribe to

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.