MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/CNH Drifts Higher, But Rallies Above 6.8000 Capped

CNH

(MNI Australia) SD/CNH spent the post Asia close drifting higher, although still found selling interest above 6.8000. We last tracked close to 6.7950, around +0.20% higher for Wednesday's session. Moves below 6.7800 have been supported so far this week. In NEER terms the CNY was flat, holding close to 126.30 (J.P. Morgan index).

  • The data calendar is empty today, although aggregate financing figures are due between now and the 15th of Feb. The markets a bumper Jan, which is typically a seasonally strong month. 5400bn yuan is the forecast, while new loans are expected at 4200bn yuan. Note CPI and PPI figures print tomorrow.
  • Late yesterday, car sales data showed still fairly weak momentum through Jan (-38% y/y), which was only a slight improvement on the y/y print for Dec (-40%).
  • The health authorities stated that the number of covid deaths and severe cases in hospital is well down from early Jan levels (off 98%).
  • The G7 is also reportedly considering sanctions on China firms, and firms from Iran and North Korea, that are supplying Russia with technology for military purposes (see this link for more details).
EM BulletFixed Income BulletsHomepageBulletMarketsEmerging 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.