MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

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

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

MNI: US NOV IMPORT PRICES +0.1%

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 Holds Above 6.7000, No Clarity on US Tariff Decision ​​

CNH

USD/CNH peaked just above 6.7300 in early London trading yesterday. We dipped as far as 6.7000, but track above 6.7100 in early trade today.

  • Today's data calendar is devoid of any macro releases (just SWIFT CNY payments data on tap).
  • There should be focus on the CNY fixing though, given yesterday's weaker than expected outcome (a +27pip surprise in USD/CNY terms).
  • Onshore reports point to a renewed focus on boosting infrastructure investment, via lending support and a step up in fiscal spending.
  • In the US, the administration still seems split around tariff policy. Overnight, US Trade Representative Tai reiterated her position that tariffs give the US leverage in negotiations and that the US shouldn't walk away from this position.
  • US Treasury Secretary Yellen and the Commerce Secretary have both stated lower tariffs could help bring down inflation pressures, although the broad consensus remains this will be with a decent lag (i.e. beyond 6 months).
  • In any event, a decision on tariffs isn't expected in the near term, with Reuters reporting earlier this week that any announcement by Biden was unlikely ahead of next week's G7 meetings.
EM BulletHomepagemarkets-real-timeEmerging Market NewsCommoditiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
EM BulletHomepagemarkets-real-timeEmerging Market NewsCommoditiesBulletMarketsFixed Income BulletsForeign 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.