MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

Services Inflation Potentially A Touch Softer; Food Prices Jump

Nominal Wage Growth Moderates In April, But Real Wages Remain Positive

MNI Projects 2.2-2.3% Y/Y National CPI, Core CPI Around 2.9%

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

USD/CNH Edges Above 7.2900, But CNH Still Tracking Modestly Higher For The Week

CNH

USD/CNH is tracking near session highs (around 7.2945) in recent dealings, last in the 7.2920/30 region. This puts CNH down around 0.18% for the session so far, in line with the BBDXY's 0.18% gain to date. Additional headwinds have come from a weaker onshore equity tone (the CSI 300 down close to 0.50% at the break), despite further calls for fund/bank support for local bourses.

  • Yesterday's highs in USD/CNH were near 7.2950, but we remain comfortably within recent ranges. CNH is tracking a modest ~0.20% firmer for the week, despite a further 0.33% gain in the BBDXY, as the authorities efforts to curb yuan depreciation pressures have yielded some results.
  • Earlier headlines crossed from Reuters that the PBoC was asking some banks to limit Southbound Bond Connect outflows in the latest measure to curb potential yuan weakness.
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.