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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • Also, here is the schedule of FOMC meetings from now through the end of 2022. If the Fed doesn't signal taper today, next scheduled time is Nov 2nd and 'quarterly' event time is Dec 14th. Will taper be easier w/ one or two more high CPI updates? https://t.co/XFrwo24xbD
  • Here is my FOMC scenario table going into the rate decision. While a delay in the taper call seems feasible with the market wobble, there will always be wobbles before and the existential threat of a mkt tantrum. Always a hostage? https://t.co/MIDk28lQBS
  • Gold prices are pushing higher so far this week and the FOMC is waiting in the wings with their September rate decision. Get your market update from @JStanleyFX here:https://t.co/rVrJnq0Rgh https://t.co/td0i0PTQZz
  • RT @CEOAdam: SO FASCINATING! Dogecoin Poll was by far my highest ever read tweet. In 24 hours, 4.2 million views, my most ever retweets, mo…
  • Just checked the Fed's website to see if they accidently release the SEP (Summary of Economic Projections) early by accident - happened once before. Nope, not live yet; but this will be the link when it is: https://t.co/GcANEDVowq
  • Gold Price Forecast: XAU/USD Holds Support Ahead of the Fed - Gold Levels https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/09/22/Gold-Price-Forecast-XAU-USD-XAUUSD-Holds-Support-Ahead-of-the-Fed-Gold-Levels.html $Gold https://t.co/JSZNMCc11w
  • RT @IGcom: What to expect from FED today? Join @JeremyNaylor_IG and @MartinSEssex live on the IG platform at 18:50 (UK) for the live announ…
  • AUD/USD is little changed from the start of the week following the limited reaction to the Reserve Bank of Australia (RBA) Minutes. Get your $AUDUSD market update from @DavidJSong here:https://t.co/t44yC8zG0K https://t.co/AJCTyiAWjx
  • China's Anqing City of Anhui province says the property firm linked to Evergrande failed to make payment for land site
  • The updated dot plot will be a major focus for today’s FOMC announcement — perhaps even more so than taper timeline language. This is because Fed Chair Powell’s speech at Jackson Hole emphasized the decoupling of balance sheet normalization from future rate liftoff. $USD $DXY https://t.co/L1PFXmnK3g
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