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Global Macro
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Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday
MNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
Yuan Stays Firm In Defiance Of Another PBOC Fixing Miss
The PBOC delivered another softer than expected yuan fixing, setting their central USD/CNY mid-point at CNY6.3929, 25 pips above sell-side estimate. Offshore yuan has shown very limited reaction, albeit it has admittedly ticked away from session highs some time after the fixing.
- Spot USD/CNH last changes hands -33 pips at CNH6.3874. Bears keep an eye on Nov 16 low of CNH6.3616 and a break here would open up May 31 low of CNH6.3525. Conversely, a rebound above Nov 11 high of CNH6.4077 would shift focus to the 50-DMA at CNH6.4203.
- Looking ahead, China's industrial profits will be published on Saturday.
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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.