MNI China Press Digest July 2: PBOC, FDI, Land Revenue

MNI: PBOC Net Drains CNY298 Bln Via OMO Tues; Rates Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1291 Tues; -0.09% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1291 TUES VS 7.1265

MNI China Daily Summary: Monday, July 1

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

Inflation Slows in June, Driven By Food and Fuels

June CPI Below Market Expectations, Headline Y/Y At 2.4%

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 Sees Little Follow Through Selling Post Mixed PMI Prints

CNH

USD/CNH is holding above 7.2900 currently, earlier lows were just under 7.2870, while the pair opened around 7.3030. Hence, we remain very much within recent ranges. The mixed PMI results, with manufacturing surprising on the upside, versus a modest downside surprise from services hasn't shifted the sentiment needle a great deal. We did see some initial USD selling (on the manufacturing beat), but there wasn't any follow through.

  • Local equities are struggling for positive traction at this stage (CSI down around -0.20%), with the real estate index a notable drag. Comments from PBoC Governor Pan around supporting finance for private sector companies also crossed earlier. Onshore media also highlighted this support.
  • Bond yields are lower but remain above earlier August lows, 2yr at ~2.10%, 10yr at ~2.58%.
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.