MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

PBOC Rolls Over MLF Loans, China's Activity Data Take Focus

CNH

A slew of China's monthly economic activity indicators will hit the wires at the top of the hour. The data will be closely scrutinised, with participants trying to gauge the impact of the August flare-up in Covid-19 cases. Spot USD/CNH has been creeping higher as we await the release, the rate last sits +45 pips at CNH6.4390.

  • The PBOC set their central USD/CNY mid-point at CNY6.4492, 9 pips above sell-side estimate. USD/CNH extended gains after this marginally softer than forecast fixing.
  • China's central bank have also rolled over CNY600bn of MLF provisions, matching the amount maturing today. The MLF rate was left unchanged at 2.95%.
  • The FT reported that U.S. Pres Biden's offer of an in-person summit with his Chinese counterpart Xi "fell on deaf ears," which led White House officials "to conclude that Beijing is continuing to play hardball".
  • Bulls would like to see USD/CNH pierce resistance from Sep 7 high of CNH6.4648. Conversely, bears would be pleased by a fall through Sep 10/3 lows of CNH6.4261/44.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
EM BulletHomepageBulletMarketsEmerging Market NewsForeign 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.