MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI BRIEF: Japan Nov Factory Output Hits 2nd Straight Rise

MNI BRIEF: Japan Nov Tokyo Core CPI Rises 2.2% Vs. Sept 1.8%

MNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks

MNI BRIEF: China Sees Progress On EU EV Deal

MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI JAPAN NOV TOKYO CORE CPI +2.2% Y/Y; OCT +1.8%

MNI: GERMANY NOVEMBER FLASH HICP -0.7% M/M (FCST: -0.5%)

MNI: GERMANY NOV CPI +2.2% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/CNH Shows Below CNH7.0700 On Latest Hope Re: Chinese Property Stimulus

CNH

The previously covered BBG sources piece, suggesting that “China is working on a new basket of measures to support the property market after existing policies failed to sustain a rebound in the ailing sector,” allows USD/CNH to register a fresh session low at CNH7.0670, before a tick away from session extremes to leave the cross at ~CNH7.0700 at print.

  • As we noted earlier, the rebound in Chinese equities on Friday (see more on that here) already provided CNH with some reprieve after the recent tumultuous run for the yuan.
  • Property stimulus hopes had already factored into the gains for Chinese property developer equities ahead of the weekend (along with the broader bid in stocks), but CNH, DM equities, oil, copper and G10 FX have still reacted to the latest news flow.
  • Current USD/CNH levels would just about allow the cross to end its run of 3 consecutive weekly moves higher (last week’s closing level is CNH7.0739). When it comes to meaningful support levels, our technical analyst doesn’t see much until the 20-day EMA (CNH7.0355).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageBulletMarketsEmerging 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.