Free Trial
JGB TECHS

(M2) Correction Extends

US STOCKS

Late Session Rebound

AUSSIE 10-YEAR TECHS

(M2) Corrective Cycle Remains In Play

AUSSIE 3-YEAR TECHS

(M2) Gains Still Considered Corrective

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
FOREX
  • China FX had another solid session, with CNY and CNH both creeping higher against the greenback to hit new cycle highs. This price action stalled and partially reversed, however, as the PBoC acted to raise the FX reserve requirement ratio for financial institutions to 7% from 5%, effective in two weeks.
  • The policy switch may prompt institutions to further diversify out of CNH & CNY and into the likes of USD and EUR, thereby arresting some of the recent currency strength. USD/CNH bounced to trade back above 6.37 on the news.
  • Across G10 FX, GBP and CHF traded lower while AUD and NZD printed furtive gains. Liquidity, headlines and price action remained muted throughout due to the US and UK bank holidays.
  • Tuesday marks the beginning of June, with focus turning to global final PMI revisions from a number of different developed markets, prelim Eurozone inflation, Canadian GDP and the ISM Manufacturing report for May.
  • The RBA rate decision is also due, with policy expected broadly unchanged. Fed's Quarles, Bailey and Brainard are all due to speak.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.