Tag Archives: USD/CNY
Weekly Economic & Financial Commentary
U.S. Review Weather Effects Continue to Influence Economic Data Housing starts plunged 16 percent in January to an 880,000-unit pace. Building permit activity also declined for the month but not as sharply.
Daily FX Update
Into the weekend, markets are mixed with the USD stronger against most currencies. Today’s focus will remain on the Ukraine and the potential for rolling bouts of EM induced risk, the G20, Fed speakers and broad developments.
The Global Macro Pulse
FX market was relatively quiet with no notable data releases in Asia time. The EUR was unchanged at 1.3717, while USDJPY edged only marginally higher to 102.51.
Daily FX Update
Markets are shifting and growing increasingly cautious as EM risk aversion builds, China’s and Europe’s PMIs disappoint, Japan reports a record trade deficit, the Fed highlights it is on track to taper by $10bn per meeting and
PBOC To Allow Higher Yuan Volatility In 2014
The People’s Bank of China plans to expand the yuan’s trading band this year in an “orderly” manner as it moves toward a more convertible currency.
Daily FX Update
Markets are shifting to a more negative tone into the NA open with the USD gaining strength, equities pointing to a negative open and the US 10‐year dropping back to 2.68%.
The Global Macro Pulse
The EUR edged higher to 1.3765, while USDJPY was marginally lower to 102.24. AUD fell to a low of 0.899 before reversing to 0.901. A similar pattern was followed by NZD,
Daily FX Update
Markets are mixed and relatively quiet leading into a shortened NA trading week. Equities are flat; oil has jumped higher; gold is off its recent highs and the 10year US yield remains close to 2.70%.
US Morning Update
The tone in global equities (Nikkei excluded) was generally ‘risk-off’, with modest declines partially spurred by more evidence that the PBoC is in the process of tightening monetary conditions.
The Global Macro Pulse
USDJPY and the Nikkei rallied in response to the Bank of Japan extending and increasing the size of its subsidized loans to banks.
CNY: Over-invoicing still in play?
China reported its January total social financing data at RMB2.6trn over theweekend, a better than expected print. From a macro-perspective, this issupportive of our economist’s positive growth outlook for China,
The Global Macro Pulse
Equity markets have rallied across the board in Asia, but the dollar is weaker. The Nikkei opened lower, but recovered to be up 0.5% at the time of writing despite yen strength.