Free Trial

USD/CNH Below Thursday Session Lows

CNH

The early tone in USD/CNH is to the downside. The pair is through NY session lows, last near 7.1660. This is around 0.20% firmer in CNH terms for the session. The tone in G10 is outperformance from higher beta plays (e.g. AUD) amid a better US equity futures trend (higher Amazon earnings helping). This is likely helping CNH at the margins, although USD/JPY is higher.

  • Coming up we have the CNY fix, followed by the PBoC & NDRC press conference in a little over an hour, which will reportedly discuss high quality growth and the macro policy backdrop.
  • The onshore Securities Journal is also reporting that China will speed up plans to resolve local government debt risks (see this link).

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.