MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

CHINA PBOC CONDUCTS CNY267.3 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1334 TUES VS 7.1335

MNI: US REDBOOK: JUL STORE SALES +4.8% V YR AGO MO

ECB Not Currently Concerned About Core Goods Re-acceleration (2/2)

Core Goods Pipeline Pressures Yet To Stall Disinflation Progress (1/2)

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

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

USD Off Earlier Highs, Firmer HK/CHina Equities Helping

FOREX

The USD index is back tracking slightly lower, the BBDXY last near 1243.6. Earlier highs were at 1245.34.

  • An improved equity tone, mainly in HK and China at this stage, has helped, particularly the higher beta plays. This is helping to offset a generally positive US yield backdrop.
  • NZD/USD is still down for the session, but back to 0.6000 (earlier lows were at 0.5980). AUD/USD is also higher, last back near 0.6540. Data prints in both economies were fairly downbeat though.
  • Commodities are elevated for gold, while copper is higher. Iron ore remains soft though, last near $100/ton in terms of the active Singapore contract.
  • USD/JPY rallied to 151.54 earlier, supported by firmer US yields, but we are now back to 151.30/35, little changed for the session. Japan's Chief Cabinet Secretary issued a fresh FX warning, but the comments were in line with what the FinMin has said recently.
  • USD/CNH is also down slightly (back under 7.2500), while USD/CNY spot is slightly lower. This is likely weighing on the USD at the margins as well.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.