Tag Archives: USD/CNY
The Global Macro Pulse
A surprise rise in China’s official PMI to 50.3 in July from 50.1 in June has pushed Asian equity markets higher.
Asian FX Update
CHINA PMIs DIVERGE; OFFICIAL READ STILL ABOVE 50 • China’s official PMI stays above 50, and surprisingly increases to 50.3.
Daily FX Update
RISING RISK OF RBA RATE CUT WEIGHS ON AUD • USD is quiet leading into this week’s event risk of FED, ECB, BoE, China’s PMI & US payrolls.
The Global Macro Pulse
The dollar has weakened further against G10 currencies. AUDUSD has edged up to 0.9278, EURUSD to 1.3288, and USDJPY has fallen to 97.78.
The Global Macro Pulse
The overnight fall in the USD, seemingly in response to a Hilsenrath article in the WSJ arguing the Fed will be dovish in its coming FOMC meeting,
CNY: Where to now?
It has become overwhelmingly clear that the strengthening in the CNY against the dollar has once again paused.
China unveils mini stimulus package
China yesterday unveiled a small stimulus package aimed at supporting growth in order to reach its 7.5% target for growth this year.
The Global Macro Pulse
Having rallied in New York in response to higher US yields, the USD is basically flat against the major currencies in Asia.
A history of FX ranges versus Straddle breakevens
How do the ranges for actively traded currency pairs in 2013 so far measure up to past annual ranges,
Asian FX Update
CHINA FLASH PMI SUGGESTS DOWNSIDE TO OFFICIAL NUMBER • A sub‐50 print looks well within the realm of possibility for China’s official July manufacturing PMI after the ‘flash’.
Asia Macro Strategy
We frequently are asked whether capital flight and slowing economic growth imply that China will devalue its currency.
Tactical Trade Idea: Go long CNY NDF vs USD
Trade Detail: Sell USD/CNY NDF 1M. 1M NDF entry at 6.1875 (spot ref 6.1365). Target 6.16 (45bp gain to fixing, includes carry) with stop at 6.20