MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI BRIEF: China To Step Up Trade Bloc Negotiations

MNI BRIEF: Yuan's Global Payment Share Falls Again In October

MNI: PBOC Net Injects CNY141.9 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Thurs; -0.93% Y/Y

MNI: UK NOV CBI INDUSTRIAL TRENDS TOTAL ORDERS -19

MNI: FRANCE NOV MANUF SENTIMENT AT 97

MNI: UK OCT PSNCR GBP11.13 BN

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

Post-Powell Market Snapshot

CANADA
  • FI: GoC yields have been dragged higher today by Treasuries after a hawkish Powell indicated a more aggressive rate path ahead, pushing implied hikes even higher to 8.5 hikes in 2022 (including last week’s 25bp liftoff).
  • An earlier sell-off in the GoC long-end has meant surprisingly little flattening, with 2s10s almost unchanged on the day at a low 30bps, although this remains above lows of 25bps from the past two weeks.
  • FX: The same dynamic has seen USDCAD give back earlier losses but the dragging higher of Canadian implied yields sees CAD the top performer of the majors vs USD on the day.
  • USDCAD is -0.1% at 1.2594 having earlier cleared support of 1.2587, the low of the range seen since the war in Ukraine, opening 1.2552 (Fibo retracement of the Jan-Feb rally) and after which it could open a 1.24 handle.
  • Local drivers are light until BoC’s Deputy Governor Kozicki speaks at the SF Fed on Fri. US events and geopol headlines are likely to dominate.
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage Bank of Canada Market News

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.