FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 Off Lows, But Well Below Pre-Fed Levels

CHINA
  • USD/CNH holds the bulk of the post-Fed losses through the European open, but has staged a ~0.3% recovery off the overnight lows. Local equities were mixed, with Shanghai Comp finishing flat, while the CSI300 shed 0.4% or so.
  • Today's CNY fix showed little pushback from the PBOC on the overnight strength in the currency, fixing at 6.7130 vs. Exp. 6.7147.
  • More medium-term focus remains on the ability of the government to achieve its growth targets, with policy advisers quoted by MNI citing COVID-inflicted economic scarring, weak balance sheets and lower productivity as the primary risks to the growth target of over 5%.
  • Financial liberalisation continues: the CSRC overnight issued a draft rule to ease regulations for IPOs in a bid to liberalise the stock market to broaden access to capital.
  • Elsewhere, President Xi called for enhanced efforts to boost demand in order to promote a broader domestic economic cycle, according to Xinhua. The report quoted the President as urging an acceleration of the pace of achieving self-reliance in science and technology.
Energy BulletsCommodities
Energy BulletsCommodities

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.