DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Yuan Firms, Sino-Taiwanese Tensions Simmer

CNH

Spot USD/CNH has shed 120 pips thus far, weighed on by broader recovery in risk appetite. The rate last sits at CNH6.3856, with bears looking for a slide through Nov 16 low of CNH6.3616 towards May 31 low of CNH6.3525. Conversely, a rebound above Oct 29 high of CNH6.4104 would expose the 50-DMA, which intersects at CNH6.4150.

  • The PBOC set their central USD/CNY mid-point at CNY6.3872, 13 pips above sell-side estimate.
  • Beijing deployed 27 warplanes into Taiwan's air defence identification zone over the weekend. It was the largest group of PLA warplanes sent towards Taiwan in more than seven weeks.
  • China's industrial profits rose 24.6% Y/Y in October, up from the 16.3% recorded in September, according to data released Saturday.
  • Local PMI data take focus this week. Official reports will hit the wires tomorrow, with Caixin M'fing PMI coming up Wednesday & Caixin Services PMI due Friday.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
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.