CNH: USD/CNY Fixing Remains Above 7.1700 Despite USD Weakness
Feb-14 01:21
The USD/CNY fixing printed at 7.1706, versus a Bloomberg consensus of 7.2769.
- This keeps the fixing well within recent ranges. Note Monday's fix was 7.1707, so little net change over the past week.
- The error term narrowed to -1063pips, from -1386pips. This largely reflected the lower market estimate.
- At the margin we might have expected the fixing to pull back under 7.1700 given USD weakness on Thursday. The fact that it didn't could be construed as marginally yuan bearish.
- Still, USD/CNH hasn't moved much post the fixing, last near 7.2800. It is underperforming a softer USD/JPY trend so far today.
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CNH: USD/CNY Fixing Remains Steady
Jan-15 01:19
The USD/CNY fix printed at 7.1883, versus the BBG market consensus of 7.3300.
- This keeps the fixing outcome close to unchanged, while the error term widened slightly to -1417pip,s but remains within recent ranges.
- USD/CNH is little changed in the first part of Wednesday dealings, last near 7.3450.
CHINA SETS YUAN CENTRAL PARITY AT 7.1883 WEDS VS 7.1878
Jan-15 01:15
- CHINA SETS YUAN CENTRAL PARITY AT 7.1883 WEDS VS 7.1878
ASIA STOCKS: Asian Equities See Bounce, Focus Turns To US CPI Later
Jan-15 01:03
Asian equities on opening higher today, with the MSCI Asia Pacific Index gaining 0.4%, driven by tech and shipbuilding stocks in South Korea and materials shares in Australia. The CSI 300 Index is expected to extend its rebound, supported by stronger-than-expected Chinese M1 money growth and the continuation of a "moderately loose" monetary policy. US-listed Chinese shares gained over 2%, aided by positive tariff policy developments.
- Japanese equities are higher today after four consecutive sessions of losses, supported by a weaker yen benefiting export-focused sectors like automakers and machinery firms. The Topix is 0.6% higher while the Nikkei trades just 0.15% higher. Keyence led gains on the Topix, rising 4.4%, with banks and insurers also advancing. Semiconductor-related stocks saw renewed buying after recent sell-offs tied to concerns over rising interest rates and regulatory issues.
- Later today Bank Indonesia is expected to maintain its key interest rate at 6% amid ongoing efforts to stabilize the rupiah. Rate cuts, initially expected earlier, are now likely delayed until the second half of 2025.
- Eurozone Industrial production data is due out later today before focus turns to the US inflation report, adding another layer of focus on global growth and central bank policies.
