News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/EhdZpmkzaH
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/23/Dow-VIX-Tesla-and-Leverage-Reflect-Greater-Risk-to-the-Relentless-Bull-Market.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/KBOJIRPTQe
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/qP2PbS4dsY
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/POGWDIkqqz
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here: https://t.co/5GO9UrvO4y https://t.co/H76jNJJxU5
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/1TiEWCbJ6t
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/fN2mfHgpON
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:https://t.co/qxQwHgD9Ey https://t.co/ym73tgtHLn
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:https://t.co/HuXPXu5PFU https://t.co/ytHqOoHnxQ
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:https://t.co/OMNoNHn2vZ https://t.co/155l4SQU6P
China's Market News: Commodities Rebound, Liquidity Drops

China's Market News: Commodities Rebound, Liquidity Drops

Renee Mu, Currency Analyst

This daily digest focuses on market sentiment, new developments in China’s foreign exchange policy, changes in financial market regulations and Chinese-language economic coverage in order to keep DailyFX readers up-to-date on news typically covered only in Chinese-language sources.

- The net liquidity withdrawal by PBOC on May 17th was 20 billion yuan.

- Black commodities rebounded on Tuesday from the session lows in last week.

- Evergreen Holding Group defaulted on 400 million yuan. This is the tenth Chinese default this year.

To receive reports from this analyst,sign up for Renee Mu’ distribution list.

Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.

- China’s Central Bank issued 50 billion yuan of 7-day reverse repos on May 17th with an interest rate of 2.25%. As there were 70 billion yuan of reverse repos matured on the day, the net liquidity withdrawal from the market were 20 billion yuan. According to PBOC, 47.5 billion yuan of Medium-term Lending Facilities (MLFs) will mature on May 19th and 100.3 MLFs will mature on May 27th.

- Black commodities rebounded on Tuesday after many of them dropped to daily limit-downs last week. The coking coal soared +5.49%, coke +5.18% iron ore +4.90%, hot rolled steel + 3.45% and rebar +2.97%. Chinese commodities have been in the spotlight since April with rising prices and trading volume. However, it also raises market concerns that the sharply increased speculation may create price bubbles.

Hexun News: Chinese leading online media of financial news.

- Evergreen Holding Group, a Chinese company focusing on ship building and marine transportation, defaulted on 400 million yuan of short-term bonds on May 16th. This makes it the tenth company that has defaulted this year. Evergreen Holding said that the liquidity shortages were mainly led by the downtrend in the marine industry as well as investment losses overseas.

- China Banking Regulatory Commission (CBRC) issued a report showing that in the first quarter, the ratio of non-performing loans to totals loans for small and micro enterprises increased by 0.1% to 2.7% from the previous quarter. CBRC said the national targets of reducing overcapacity and cutting inventory have considerable impacts on the small and micro enterprises.

China Finance Information: a finance online media administrated by Xinhua Agency.

- Hong Kong Monetary Authority (HKMA) said on May 17th that the new dim-sum bonds (Yuan-denominated bonds issued in the Hong Kong offshore market) in the first quarter of 2016 were only 4.3 billion yuan. As the end of March, Yuan deposits in Hong Kong banks have dropped 12% from the end of 2015. Yuan settlement in the first quarter dropped roughly 30% to 1.1306 trillion yuan on a yearly basis. HKMA said that despite drops in Yuan-denominated assets, Hong Kong has a sufficient amount of the Chinese currency to maintain the offshore market functioning well.

Written by Renee Mu, DailyFX Research Team

To receive reports from this analyst,sign up for Renee Mu’ distribution list.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES