MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

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

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

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/HKD Spot Back To Mid August Lows, US-HK Yield Differentials Continue To Track Lower

HKD

Spot USD/HKD sits back at 7.8315, which is above session lows (7.8283), but maintains the recent track lower in the pair. We are now back close to mid August levels. The pair has breached the 20-EMA (back near 7.8355), while current levels are right on the 200-day EMA. Note the 50 and 100-day EMAs sit close to 7.8300.

  • A firmer HKD spot backdrop continues to be underpinned by firmer Hibor fixings. The 1 month rose 33bps to 4.62%, while the 3 month set near 4.82%, +16.5bps. The US-HK 3 month yield differential continues to track lower, last near +59bps, we were near +100bps back in late August.
  • In the forward space, the 12 month outright is back sub 7.7800, against recent highs just above 7.7850. The 6 month is back under 7.8000. Spot continues to exhibit volatility compared to the outright forwards.
  • The 1 month risk reversal remains within recent ranges, last near -0.36.
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.