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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.
CHINA
MNI (London) - Wires are reporting that authorities in the Chinese capital, Beijing, have stated that community testing for COVID-19 can be dropped for those not needing to venture outside. This comes a day after officials in the city of Guangzhou, "announced late on Tuesday they would allow close contacts of COVID cases to quarantine at home rather than being forced to go to shelters", accordingto Reuters.
- Bloomberg reports that, the "Yuan extended gains, jumping to its strongest in nearly two weeks, as hopes over a relaxation of China’s Covid curbs stoked optimism about the country’s economy and fueled appetite for riskier assets"
- However, the prospect of a significant reversal in China's COVID-19 containment policy appears slim at present. The gov't is unlikely to want to be seen changing course at the same time as, "a string of protests that escalated over the weekend over stringent COVID-19 lockdowns" continue.
- China is also recording its highest level of new COVID-19 cases so far (see chart below), making it difficult to significantly reduce restrictions.
Chart 1. China, New Daily Confirmed COVID-19 Cases, 7-Day Rolling Average
Source: ourworldindata.org, Johns Hopkins University CSSE COVID-19 Data
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.
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