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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
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
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Mixed
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/tEepDXjP2O
  • 🇩🇪 GfK Consumer Confidence (JUL) Actual: -0.3 Expected: -4 Previous: -6.9 https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇩🇪 GfK Consumer Confidence (JUL) due at 06:00 GMT (15min) Expected: -4 Previous: -7 https://www.dailyfx.com/economic-calendar#2021-06-25
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/lxOWWEb8p0
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.36%, while traders in France 40 are at opposite extremes with 70.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HYs8jzZrmf
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.11% 🇨🇦CAD: 0.09% 🇨🇭CHF: 0.05% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Jntw19iZKD
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.41% France 40: 0.22% Germany 30: 0.21% US 500: 0.15% FTSE 100: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uA7dhYQvQx
  • Chinese stocks rallied following PBOC's liquidity injection: - CSI 300 (+1.49%) - Hang Seng Index (+1.16%) - Hang Seng Tech Index (+2.23%) https://t.co/7j4DJu6YZD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/hwp2EU0zEm
  • "Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.12%) Nasdaq 100 (+0.04%) [delayed] -BBG"
China's Market News: Widened Yuan Spread, Mixed PMI Prints

China's Market News: Widened Yuan Spread, Mixed PMI Prints

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 gap between onshore and offshore Yuan rates widened following the PBOC’s guidance.

- The official PMI print showed improved demand while is contradicting to Caixin PMI read.

- The PBOC Deputy Governor commented on Yuan rates at G-20 press briefing.

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.

- The PBOC strengthened the Yuan by +124 pips or +0.19% against the U.S. Dollar on Thursday. Both onshore and offshore Yuan rates moved higher following the release but the spread between the two rates elevated. As of 10:45am EDT, the gap has widened to 154 pips from 77 pips before the release of the daily fix.

China's Market News: Widened Yuan Spread, Mixed PMI Prints

Data downloaded from Bloomberg. Chart Prepared by Renee Mu.

Hexun News: Chinese leading online media of financial news.

- China’s official manufacturing PMI gauge in August came in better-than-expected and back to the expansion territory, at 50.4. This is also the strongest level since November 2014. In February, the official manufacturing PMI dropped to the lowest level since 2011.

China's Market News: Widened Yuan Spread, Mixed PMI Prints

Data downloaded from Bloomberg. Chart Prepared by Renee Mu.

Among the sub-indexes of the PMI measure, production and new order indexes increased in August, indicating both supply and demand in the manufacturing sector has improved. This is a positive sign for the traditional sector, as in the short-term, cutting production may be a solution for firms to survive in the economic winter. However, eventually they need to expand their business in order to develop and succeed; this will require improved demand.

At the same time, the Caixin Manufacturing PMI print released 45 minutes later moved into the opposite direction of the official read. The August Caixin PMI print fell to 50.0 from 50.6 in the month prior. This is not the first time the two PMI reads are contradictory to each other. Last month, Caixin PMI was higher than the official PMI. This is likely caused by the differences amongst surveyed companies that are included in the two reports: official PMI report covers large, medium and small-sized companies, while Caixin PMI focuses on small and medium-sized companies.

China's Market News: Widened Yuan Spread, Mixed PMI Prints

Data downloaded from Bloomberg. Chart Prepared by Renee Mu.

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

- The Deputy Governor of the PBOC Yi Gang commented on Yuan rates at a press briefing for the G-20 meetings on September 1st. Mr. Yi said that the volatility in the Yuan is lower than other reserve currencies; Yuan rates have been floating within a reasonable range and remain relatively stable. He also addressed that China’s Central Bank will maintain a market-oriented exchange rate regime and continue to improve the system.

G-20 meetings are being held in Hangzhou, China, beginning on August 31st. The most important meeting for traders to keep an eye on is the G-20 Leaders Summit that is scheduled on September 4th and 5th.

G20 Meetings (September 2016)

August 31 - September 1

Finance and Central Bank Deputies Meeting (communique drafting)

Hangzhou, China

September 1-2

Sherpa Meeting #4 (communique drafting)

Hangzhou

September 2

Joint Sherpas and Finance Deputies Meeting (communique drafting)

Hangzhou

September 3-4

B20 Summit

Hangzhou

September 4-5

G20 Leaders Summit

Hangzhou

Source: G20 official website.

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