MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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

Redback Firms A Tad Despite Weaker PBOC Fix

CNH

USD/CNH has edged lower this morning, in tandem with a downtick in the DXY. The rate deals at CNH6.3922, 34 pips lower on the day, and downside technical focus falls on Nov 16 low of CNH6.3616. A break here would give bears a green light for targeting May 31 low of CNH6.3525. Conversely, a jump above Oct 29 high of CNH6.4104 would turn focus to the 50-DMA at CNH6.4185.

  • The yuan fixing came in at CNY6.3980 today, 12 pips above sell-side estimate. The yuan was unimpressed.
  • The city of Chengdu, capital of Sichuan province, rolled out measures to support local developers, inspiring speculation that other cities might follow suit.
  • Elsewhere, Premier Li urged local governments on Wednesday to promote construction activity and make better use of proceeds from special bonds to boost demand.
  • Looking ahead, China's National Bureau of Statistics will publish industrial profits data this Saturday.
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.