MNI BRIEF: Mandate No Cure For Discount Window Stigma-NY Fed

MNI BRIEF: US April Core PCE YoY Rate Lowest In 3 Years

CANADA Q1 GDP ANNUALIZED +1.7% VS EXPECTED +2.4%

MNI BRIEF: China Utility Prices Should Be Reasonable

MNI: PBOC Net Injects CNY98 Bln Via OMO Fri; Rate Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1088 Fri; -2.14% Y/Y

Consumption Contributes Positively To In Line Q/Q GDP Print

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

EZ/UK Bond Supply Calendar: BoE APF on Monday

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

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

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

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

Yuan Happy To Hold Tight Range Despite Greenback Weakness

CNH

USD/CNH slipped early on, as participants have shied away from the greenback, and the rate probed the water below Friday's worst levels. Macro headline flow has been sparse since the Asia open and the PBoC fix provided little impetus, falling in line with expectations. The rate has moved away from lows and last trades flat at CNH6.5516.

  • China National Radio cited Chinese Premier Li as noting that local gov'ts should improve policies to achieve this year's main economic targets. Per the report, Li made the remarks during a meeting with officials from Heilongjiang, Shandong, Hunan, Guangdong and Yunnan provinces.
  • Bears see Nov 18 low of CNH6.5321 as their initial target and a break here would expose the psychological CNH6.5000 level. Bulls need a clearance of Nov 19 high of CNH6.5910 before taking aim at Nov 12 high of CNH6.6349.
  • Data-wise, focus moves to Friday's Chinese industrial profits.
EM BulletBulletMarketsEmerging 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.