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US Treasury Signals China’s Stimulus Unveil Still Falls Short
The US Treasury’s top international official welcomed fresh pledges from China’s leadership to bolster economic growth, while urging Beijing to follow up with meaningful actions. “It’s an important step that they are acknowledging that domestic demand needs to go faster and that they need to support their growth with consumption and with domestic demand,” Jay Shambaugh, the Treasury undersecretary for international affairs, said in an interview on Bloomberg Television’s Balance of Power. He spoke after Chinese President Xi Jinping earlier Thursday presided over a top Communist Party gathering where ... (full story)
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From @FirstSquawk|Sep 26, 2024post: PBoC Fixes USDCNY Reference Rate At 7.0101 (prev fix 7.0354 prev close 7.0110)PBOC sets USD/ CNY reference rate for today at 7.0101 (vs. estimate at 7.0093) Earlier: PBOC cuts 7 day reverse repo rate to 1.5% (prior 1.7%). People's Bank of China cuts RRR by 50bp. Also, as you'll note below, the 14-day reverse repo rate has been cut to 1.65%, from 1.85%. The cuts were promised earlier this week. I'm wary of a 'sell the fact' response today, *** 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. The previous close was 7.0110 In open market operations (OMOs): PBOC injects 333bn via 14-day RR, sets rate at 1.65%, lowered from 1.85% 572 bn yuan reverse repo expire today net 239bn liquidity drained from the market in OMOs today
From zerohedge.com|Sep 26, 2024The risk-on sentiment prevailing today can likely be chalked up to three developments: guidance raise by MU, deepening of the monetary easing cycle round the globe, and supportive ...
From forex24.pro|Sep 26, 2024The quotes of the USD/JPY currency pair continue to move within the development of growth and a descending channel. At the time of publication of the forecast, the US Dollar to ...
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- Posted: Sep 26, 2024 8:59pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,076
