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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh88nOv https://t.co/hQgZB9T73q
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10CKUR https://t.co/9JVh6BsWa2
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/ZDuee58Abe
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/niJL2W2yXV
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/0rNbbrd58e
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/zPzJAxBJxt
  • 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/uf6KEYTes5
  • 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/gRjdVfbg66
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCYRCIk https://t.co/mLLGqYUygY
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/HUYJzEkYiT
China's Market News: PBOC Officials Comment on Yuan, Economy

China's Market News: PBOC Officials Comment on Yuan, Economy

Renee Mu, Currency Analyst

This daily digest focuses on Yuan rates, major Chinese economic data, market sentiment, new developments in China’s foreign exchange policies, changes in financial market regulations, as well as market news typically available only in Chinese-language sources.

- The PBOC weakened the Yuan against the U.S. Dollar for the third trading day on Tuesday, setting a fresh six-year low.

- The Deputy Governor of the PBOC said that there is no basis for a persistent Yuan devaluation.

- The PBOC’s Chief Economist Ma Jun told that Yuan’s recent losses against the Dollar can be explained by the Dollar strength.

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

Yuan Rates

- The PBOC weakened the Yuan against the U.S. Dollar for the third trading day in a row on Tuesday, setting a new six-year low for the reference rate. The Yuan was lowered by -54 pips or -0.08% against the Dollar to 6.7744. Within one hour following the release of the Yuan fix, the offshore Yuan strengthened +0.07% against the Greenback to 6.7818, 74 pips weaker than the guided level.

China's Market News: PBOC Officials Comment on Yuan, Economy

Data downloaded from Bloomberg; chart prepared by Renee Mu.

The PBOC injected 115 billion Yuan of 7-day reverse repos, 85 billion Yuan of 14-day reverse repos and 35 billion Yuan of 28-day reverse repos on Tuesday. After deducting the 60 billion Yuan of reverse repos matured on the day, the net liquidity added was 175 billion Yuan. This is fifth day in a row with a net cash injection. However, the tight liquidity condition has not been fully eased; Yuan’s borrowing costs in the short-term and medium-term continued to rise on Tuesday. In specific, Yuan’s overnight funding cost in the Shanghai inter-bank market increased +0.70 BP to 2.2380%. Amid the shortage in liquidity, it is expected that the Central Bank will continue to pump money into the market in the rest of the week.

China's Market News: PBOC Officials Comment on Yuan, Economy

Data downloaded from Bloomberg; chart prepared by Renee Mu.

Market News

People's Daily: the official paper of the Communist Party.

- The Deputy Governor of the PBOC, Yi Gang, commented on the Yuan on October 25th after Yuan pairs hit fresh lows. He said that “there is no basis for a persistent Yuan devaluation. Compared to other currencies that either have a reserve currency status or are convertible, the Chinese Yuan has remained stable. Compared to currencies of emerging economies, the Yuan shows even stronger stability. From a long-term perspective, the flexibility of Dollar/Yuan rates saw increases, but the volatility in Yuan pairs is still smaller than most of the reserve currencies and emerging-market currencies.”

In terms of policy tools, Mr. Yi told that the regulator will continue to adopt a prudent monetary policy. Also, he believed that the annual growth in 2016 will maintain between 6.5% and 7.0%.

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’s Chief Economist Ma Jun addressed on Yuan rates on Tuesday as well. He said that Yuan’s losses against the Dollar since October can be explained by the Dollar strength; the Yuan did not lose against a basket of currencies in the month. In terms of China’s economy, Mr. Ma said that it is almost certain that the country will achieve the 6.7% annual growth target this year.

- China’s urban registered unemployment rate was 4.04% at the end of third quarter, below the 4.5% target of 2016, according to the Ministry of Human Resources and Social Security. In the first nine months, 10.67 million new jobs have been created, exceeding the annual target of 10 million.

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