MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

PBoC Fires First Warning Against CNY Weakness

CHINA
  • The PBoC re-state their vow to curb speculation in the FX market, urging institutions to maintain FX market stability. The statement sees curbing of speculation "when necessary".
  • USD/CNH edging to fresh daily lows on the back of that headline - pair prints 7.0206 to extend losses on the day to 0.4%.
  • Yesterday's Asia-Pac session low next up at 7.0078 - and could presage a symbolic move back below the 7.00 handle
  • Warning from the PBoC follows the ~1% rally in USD/CNY this week. Notably, the USD/CNY fix today was the first above 7.00 since December last year - showing that the authorities were not standing against the CNY drift lower (perhaps until now). * Recall back in March PBOC governor stated that USD/CNY at 7.00 was no longer a 'psychological hurdle' for the pair.
Energy BulletsCommodities
Energy BulletsCommodities

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.