CNH: USD/CNY Fixing Edges Up, But Little Shifts This Past Week
Feb-13 01:20
The USD/CNY fixing printed at 7.1719, versus a BBG market consensus of 7.3105. * Today's fixing is ...
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CNH: USD/CNY Fixing Steady, Error Term Narrows
Jan-14 01:18
The USD/CNY fix printed at 7.1878, versus a Bloomberg market consensus of 7.3202.
- This keeps the fixing error wedged under 7.1900 for now. The fixing error narrowed to -1324pips, versus -1565pips yesterday.
- USD/CNH got to lows of 7.3342 in the first part of trade (aided by broader USD softness post headlines that the US economic team advising Trump was considering gradual tariff shifts). However, we sit higher now, last near 7.3450, little changed for the session.
CHINA SETS YUAN CENTRAL PARITY AT 7.1878 TUES VS 7.1885
Jan-14 01:16
- CHINA SETS YUAN CENTRAL PARITY AT 7.1878 TUES VS 7.1885
AUSSIE BONDS: Slightly Richer, Subdued Data-Light Session Ahead Of US PPI Data
Jan-14 01:05
ACGBs (YM +1.0 & XM +0.5) are slightly stronger on a data-light session.
- Westpac consumer confidence edged down 0.7% in January to 92.1 points on concerns about the broader economy, including a weaker currency and uncertainty about the timing of interest-rate cuts.
- Cash US tsys are ~1bp richer in today’s Asia-Pac session after yesterday’s modest sell-off. US PPI data will be released later today, ahead of CPI data tomorrow.
- Cash ACGBs are 1bp richer with the AU-US 10-year yield differential at -14bps.
- Swap rates are flat.
- The bills strip is little changed.
- RBA-dated OIS pricing is little changed across meetings today. A 25bp rate cut is fully priced for April (103%), with the probability of a February cut at 67% (based on an effective cash rate of 4.34%).
- AOFM Bond issuance will resume this week, with A$800mn of the 3.50% 21 December 2034 bond to be sold tomorrow and A$700mn of the 2.75% 21 November 2027 bond to be sold on Friday.
