MNI: PBOC Net Injects CNY2 Bln Via OMO Thurs; Rates Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Higher At 7.1028 Thurs; -4.28% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1028 THURS VS 7.1016

MNI: BRAZIL'S COPOM CUTS SELIC RATE BY 25BP TO 10.5%

MNI China Daily Summary: Wednesday, May 8

EZ/UK Bond Supply Calendar: Spain, Ireland Auction on Thursday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.36M TO 459.5M MAY 03 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/CNH Steady, PBoC Vows To Avoid FX Overshoot

CNH
EM BulletHomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsEmerging Market News

USD/CNH tracks close to unchanged in the first part of Thursday trade, the pair last near 7.2450, which is slightly up on Wednesday lows.

  • Headlines from the PBoC have crossed in recent dealings: *PBOC TO PREVENT UNILATERAL CONSENSUS ON YUAN EXCHANGE RATE, *PBOC TO PREVENT RISKS OF EXCHANGE RATE OVERSHOOTING. Per BBG the PBOC comments/statement were made on Wechat.
  • CNH hasn't moved following these remarks, but they suggest an on-going focus around managing yuan depreciation pressures.
  • Coming up soon we have the CNY fixing, followed by the onshore spot open. USD/CNY spot downside has been very limited in recent sessions and remains close to the top end of the daily trading band.
112 words

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.

USD/CNH tracks close to unchanged in the first part of Thursday trade, the pair last near 7.2450, which is slightly up on Wednesday lows.

  • Headlines from the PBoC have crossed in recent dealings: *PBOC TO PREVENT UNILATERAL CONSENSUS ON YUAN EXCHANGE RATE, *PBOC TO PREVENT RISKS OF EXCHANGE RATE OVERSHOOTING. Per BBG the PBOC comments/statement were made on Wechat.
  • CNH hasn't moved following these remarks, but they suggest an on-going focus around managing yuan depreciation pressures.
  • Coming up soon we have the CNY fixing, followed by the onshore spot open. USD/CNY spot downside has been very limited in recent sessions and remains close to the top end of the daily trading band.