MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Yuan Reverses Earlier Retreat

CNH

Offshore yuan has strengthened but is still within yesterday's range, the pair is retracing a sizable move yesterday sustained amid a sell off in local equity markets, markets are in positive territory today.

  • The PBOC fixed USD/CNH at 6.4516, 23 pips below sell side estimates, the second lower fix in three days, compared to 2 lower misses in the previous 4 weeks. Yuan bulls will be scrutinising the fixes as a sign that the PBOC has realigned its asymmetric bias for a weaker yuan at the fix.
  • Data showed January home prices rose 0.28% M/M, another positive print after 1 0.12% gain in December.
  • A piece in China's Economic Information Daily will have also given yuan bulls some encouragement, there was a piece on the front page that predicted China's economy will grow 8% in 2021 after posting 2.3% growth in 2020. The piece also stated steady improvement in China's economic fundamentals is creating conditions for the country to normalize its monetary policy.
BulletEM BulletEmerging Market NewsForeign Exchange BulletsMarkets

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.