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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
USD/CNH Edges Higher, As Weaker Equities Offset Reports Of Onshore State Bank Dollar Sales
USD/CNH sits in the 7.2215/20 region in latest dealings. Earlier lows were close to 7.2150. Headlines crossed from Reuters a little while ago that the state banks were reportedly selling USDs onshore to curb yuan weakness. Spot USD/CNY hit a low of 7.2027 earlier but we now sit higher in the 7.2070/80 region. This, coupled with the re-widening of the fixing error, suggests the authorities don't want to see a rapid move higher in USD/CNY. Onshore spot hasn't gone above July 19 highs of 7.2270 in this most recent round of USD strength.
- Some offset has come from a weaker equity tone into the lunch time break. The CSI 300 is down -0.22%, the headline HSI is also weaker. Northbound stock connect flows are negative for the third straight session at this stage (-1.16bn yuan).
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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.