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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • 'Thank you chair Powell, now back to the real business - alts are up and running again'....#cardano #solana #ethereum @DailyFXTeam
  • Fed's Powell: - Fed is evaluating whether or not to launch a central bank digital currency - Fed has not made a decision on a CBDC yet
  • #Powell: Fed's tapering will be gradual $SPX $USD $XAUUSD
  • Fed's Powell: - Rate liftoff is unlikely to occur before the end of the taper -Tapering will be gradual, and the Fed can accelerate or decelerate the taper if required
  • Fed's Powell: - I want to finish the taper before considering balance sheet reductions - The time has not yet come to discuss the Fed's balance sheet
  • Fed's Powell: - Evergrande situation appears to be unique to China - The number of US corporate defaults is very low
  • Missed today's FOMC? Get your live coverage from @CVecchioFX and read up your market update from @JStanleyFX here:
  • $USD set a fresh Sept. high during the presser 93.73 is the 2021 high, next res level on my chart $DXY
  • Fed's Powell: - It is critical that the debt ceiling be lifted in a timely manner - No one should assume the Fed can fully protect the markets or the economy in the event of a default
  • At least they are willing to acknowledge that there is diminishing benefit to additional stimulus. Not outright admission of the detriments that can arise though (like a bubble born of moral hazard) which does us a disservice
China's Market News: Banks Face Elevated Targeted RRR if Fail in Assessment

China's Market News: Banks Face Elevated Targeted RRR if Fail in Assessment

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.

- Banks that failed to meet PBOC’s criteria will bear higher reserve requirement ratios beginning on Feb. 27th.

- A break above 6.8845 for the USD/CNH may suggest a more meaningful upward trend for the pair.

- Would you like to know more about trading? DailyFX webinars are a great place to start..

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

Yuan Rates

- The PBOC lowered the Yuan by -47 pips or -0.07% against the U.S. Dollar to 6.8790 on Tuesday. The offshore Yuan weakened against the Dollar for the fourth trading day in a row, to 6.8635 as of 11:35am EST. Yet, the offshore pair remained stronger than the PBOC’s guided level as well as the onshore Yuan. If the USD/CNH can show a sustainable break-above 6.8845 (February high, 50% retracement of January drop and the top of a parallel), the prospect of a bullish trend for the pair (bearish for the Yuan) would be more likely.

USD/CNH 1day

China's Market News: Banks Face Elevated Targeted RRR if Fail in Assessment

Prepared by Renee Mu.

Market News

PBOC News: China’s Central Bank.

- Some Chinese banks will be no longer qualified for a reduced reserve requirement ratio (RRR), beginning on February 27th, according to a statement released on the PBOC’s official website on Tuesday. Under the Central Bank’s targeted RRR policy, banks may enjoy a reduced RRR if they can meet the criteria of issuing a certain amount of loans to agricultural companies as well as small- or micro-sized firms. Normally, banks are less willing to lend to those companies as they are considered to be risker than larger-sized companies or state-owned enterprises. The targeted RRR policy aims to encourage banks to provide funds to these sectors that need support. According to the PBOC’s assessment, most banks will be still qualified for a preferable rate in 2017.

Hexun News: Chinese leading online media of financial news.

- Local governments are required to submit their debt issuance plans to the Finance Ministry by the end of March 31st, according to a notice published by the Ministry on Tuesday. In order to improve the quality of credit rating on local government debt, the Finance Ministry will set up a black list of credit-rating agencies.

As of the end of 2016, local governments have issued 6.05 trillion Yuan of debt, rising nearly 60% from 2015. In 2017, the new debt issued by local governments may reach 7 trillion Yuan, according to a forecast by China Bond Rating.

Chinaforex News: a news agency administrated by SAFE

- China will use three approaches to attract foreign investment in 2017, told by China’s Commerce Minister Gao Hucheng at a press conference on Tuesday: A) The country will further reduce restrictions on foreign investment; B) regulators will simplify the investment process in the effort to facilitate overseas companies. C) The government will fully implement the policy that foreign investors will be granted national treatment.

China’s foreign reserves dropped below $3 trillion in January. Attracting more foreign direct investment to China will not only help the country to open up its domestic market, but may also increase capital inflows, which may slow down or reverse falls in foreign reserves.

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.