MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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

USD/CNH Back Above 7.2700, Onshore 10yr Yield Continues To Track Lower

CNH

USD/CNH pressed above 7.2700 post the Asia close on Monday, although couldn't breach the 7.2740 handle (which is just under the simple 50-day MA). We track near 7.2720 in early Tuesdays dealings. USD/CNY finished higher as well, ending Monday's session just above the 7.2600 level.

  • The CNY basket tracker for the CFETS index edged down slightly for Monday but at 99.285 remains above recent lows close to 99.00 (per BBG). Broader USD sentiment was positive against the G10 (which saw the BBDXY rise 0.26%), a yuan headwind.
  • In the cross asset space, focus remains on the break lower in the 10yr CGB yield, which closed sub 2.15%, while the 2yr yield ended at 1.51% (back close to recent lows).
  • Onshore equities were mostly lower, the CSI 300 down 0.54%, closing Monday's session back under 3400. The Golden Dragon index fell a modest 0.13% in US trade.
  • The local data calendar is empty today, with official July PMIs on tap tomorrow. The market looks for softer outcomes for both the manufacturing and non-manufacturing PMIs, with manufacturing projected to stay in contraction territory.
  • Citibank nudged down its China growth forecast to 4.8% from 5.0% for 2024, per BBG. The broader sell-side consensus sits a touch higher at 4.9%.
EM BulletFixed Income BulletsHomepagemarkets-real-timeBulletMarketsEmerging 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.