MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI BRIEF: NZ CPI Prints Lower Than Expected At 3.3% Y/y

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 WED VS 7.1328

Survey date avoids Swift concerts - but accomodation is still very high

Swift categories boost services CPI by 0.19ppt; headline by 0.09ppt (CORRECT)

Swift categories boost services CPI by 0.19ppt; headline by 0.09ppt (CORRECT)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

TRY The Early Leader in Emerging Market Currency Space

EM FX
  • TRY the strongest performing currency in EMFX so far Thursday, higher by around 0.5% against the USD as markets respond to the CBRT's decision overnight to raise their required reserve ratio for FX liabilities. Initial support in USD/TRY is untroubled, however, meaning the trend conditions remain bullish. Sights are set on 8.8008, Jun 2 high and the bull trigger where a break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support lies at 8.2860, Jun 11 low. Initial support is at 8.5986, Jun 23 low.
  • RUB trades similarly favourably, with USD/RUB correcting lower after a solid rally this week. Oil prices remain favourable, with Brent today higher by 0.6% or so ahead of the OPEC+ meeting, which will likely remain the primary price driver Thursday. An output hike of 500,000bpd would meet consensus expectations, but any more sizeable hike could prove negative for oil prices and prompt USD/RUB to resume its upward trend this week. Resistance is at 73.3952, the 50-day EMA. A strong break of the EMA would potentially alter the picture.
  • USD/ZAR remains pinned between the directional parameters of the 100-dma at 14.3867 and the 50-dma support at 14.0329. Price holding toward the top end of this range keeps the short-term outlook bullish and a recovery here would signal a significant reversal of the downtrend that started early Apr 2020. The focus is on 14.5434 next, May 4 high.
EM BulletHomepagemarkets-real-timeBulletEmerging 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.