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How Will End of Japan’s Negative Rates Impact Currency Markets?
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Durable goods orders are a good lead indicator for broader capex spending in the US. Unfortunately, ongoing weakness here suggests investment spending will remain a constraint on ...
Since I am still chugging away with edits, I have not been spending much time watching developments in markets. I just wanted to off some brief comments on events from central ...
GBP futures trade lower after Monday’s bounce as U.S. data supports the USD. Dan Deming explains.
Key statistics: The monthly CPI indicator rose 3.4% in the 12 months to February. The most significant price rises were Housing (+4.6%), Food and non-alcoholic beverages (+3.6%), ...
A previous post explored the potential implications for U.S. growth and inflation of a manufacturing-led boom in China. This post considers spillovers to the U.S. from a downside ...
post: PBOC SETS YUAN MID-POINT AT 7.0946 AGAINST DOLLAR, LOWER THAN YESTERDAY'S 7.2150PBOC sets USD/ CNY mid-point today at 7.0946 (vs. estimate at 7.2250) The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. • USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. • CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. • A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. Previous close was 7.2150. PBOC injects 250bn via 7-day RR, sets rate at an unchanged 1.8%. • 3bn yuan of RRs mature today. • Thus net 247bn yuan injection on the day in OMOs.