Free Trial
US 10YR FUTURE TECHS

(M2)‌‌ Eyeing The 50-Day EMA

TURKEY

UniCredit on CRBT Decision

GERMAN AUCTION RESULTS

1.00% May-38 Bund

BONDS

Looking ahead to the Fed Minutes

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Yuan Firms, Asia EM FX Mixed

ASIA FX

The yuan edged higher ahead of the week-long Lunar New Year holiday, with Asia EM currencies trading mixed towards the end of a volatile week.

  • CNH: Yuan bulls were undeterred by yesterday's sharp rally in spot USD/CNH. The rate slipped in Asia-Pac trade, moving away from a two-week high printed on Thursday. The PBOC set their yuan reference rate at CNY6.3746, just 8 pips above sell-side estimate.
  • KRW: Spot USD/KRW punched through key resistance from Jan 7 cycle high of KRW1,203.90 and continued to creep higher, ignoring upbeat factory production data released out of South Korea. The BoK said they will hold a meeting on Feb 3 to review market situation.
  • IDR: The rupiah garnered some strength amid stabilisation after the Fed's hawkish announcement.
  • MYR: Spot USD/MYR extended losses after December data showed a solid beat in Malaysia's trade surplus, as shipments topped expectations.
  • PHP: Spot USD/PHP pulled back after a rejection of resistance from PHP51.500. The peso may have been supported by strong Philippine GDP data released Thursday, as Fed jitters receded. Elsewhere, the Philippines said it will scrap quarantine requirement for fully vaccinated visitors from Feb.
  • THB: Spot USD/THB pushed higher before trimming some gains. The Finance Ministry revised 2021 GDP growth forecast to +1.2% Y/Y from +1.0% and kept the 2022 forecast at +4.0%, noting that the Covid-19 outbreak is expected to peak in March.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.