MNI: US NOV FINAL SRVCS PMI 56.1 (FLASH 57.0); OCT 55.0

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI BRIEF: US Pay Gains Stabilizing At Higher Rate -ADP

MNI NBP WATCH: Rates Held, Outlook Unchanged

MNI China Daily Summary: Wednesday, Dec 4

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

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

Spot USD/HKD Unable To Break Sub 7.8250

HKD

Spot USD/HKD sits near 7.8250. The pair unable to sustain breaks below this level in the past few sessions. Equally, moves back towards 7.8300 have drawn selling interest, leaving us in a reasonably tight range.

  • HIBOR rates continue to track higher, albeit at a slowed pace compared to earlier in the week. The 1 month is just above 5.00%, the 3 month also above 5%, only slightly above Wednesday's fixing of 4.98%.
  • US-HK 3 month rate differentials are still tracking lower, but the downtrend has slowed, last at +44bps. This may have helped slow the descent in USD/HKD.
  • In the outright space, USD/HKD 12 month sits back near 7.7720, but hasn't been able to move sub this level. The 6 month outright is last near 7.7970, also up from earlier lows in the week. The 1 month risk reversal remains relatively steady.
  • On the data calendar we get the August unemployment rate next Tuesday. CPI and BoP figures print on Thursday.
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.