MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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

USD erases early gains, BoE Vlieghe remarks...>

CABLE
CABLE: USD erases early gains, BoE Vlieghe remarks support GBP
- Traders reported of a DXY buyer in early Europe lending support to the USD.
USDJPY reclaimed Y111.00, momentum type accounts accelerated the move to
Y111.19. The broader-based USD tone pressured both GBP & EUR to fresh daily
lows, before fading the move.
- EURUSD was quick to pare losses, rate squeezed through $1.1800 to $1.1830 as
other leading currency pairs played catch up. EURJPY tracked the move to
Y131.35. EURCHF comfortably held above the 100-dma to print Chf1.1770.
- The GBPUSD recovery stalled ahead of $1.3460, before BoE Vlieghe hit the
wires. Vlieghe said, provided headwinds from Brexit uncertainty do not intensify
in near term and ultimately fade over the coming years, i think policy rates are
likely to rise by 25bp to 50bp per year over forecast period. GBP squeezed to
react highs of $1.3492, before paring light gains.
- Firmer oil prices were seen to support commodity based currency pairs with
AUD, NZD & CAD showing modest gains against the USD. AUD briefly reclaimed
$0.76, NZD extended to $0.6975 and the CAD touched C$1.2750.
MarketsForeign Exchange Bullets
MarketsForeign 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.