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BNP on the sliding yuan – no hard line-in-the-sand

August 22, 2023

I posted earlier on JPM on the yuan: JP Morgan says the Chinese yuan will keep on falling BNP have a similar view on a …

Central Banks

AUD/USD to remain stuck in the middle of 0.63 – 0.65 range: China woes, dovish RBA

August 22, 2023

This snippet via Mizuho on the Australian dollar. In a (very) brief summary of the piece: China Woes: The sheer magnitude of balance sheet and …

Market Outlook

Asia Day Ahead: Heavy-Lifting from US Tech Overnight as Nvidia Results in Focus

August 22, 2023

The US 10-year Treasury yields touched a new 15-year high, but renewed traction towards tech shares ahead of Nvidia’s result release saw shrug-off from Nasdaq. …

Central Banks

China’s banks may quicken mortgage rate cuts says Chinese media

August 22, 2023

China Securities Daily with the opinion piece saying banks may hurry along cuts to existing mortgage rates. Seems a little far-fetched to expect too much …

Central Banks

PBOC sets USD/ CNY mid-point today at 7.1992 (vs. estimate at 7.3097)

August 22, 2023

People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade …

Central Banks

JP Morgan says the Chinese yuan will keep on falling

August 22, 2023

Analysts at JP Morgan remain bearish on the RMB: “The fundamental case for additional yuan weakness remains very much intact.” “We see the dollar-yuan uptrend …

Central Banks

Morning JGB trade sees the yield on the 10-year rise to 0.655%

August 22, 2023

The soft tweak to monetary policy at its previous meeting saw the bank allow the 10 year to rise above its previous 0.5% cap. The …

Sentiment

Oil – US Crude IG Client Sentiment: Our data shows traders are now net-long Oil – US Crude for the first time since Jul 27, 2023 when Oil – US Crude traded near 79.61.

August 22, 2023

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US …

Central Banks

PBOC is expected to set the USD/CNY reference rate at 7.3097 – Reuters estimate

August 22, 2023

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting …

Central Banks

JP Morgan’s AI model Quant Sentiment on Federal Reserve monetary policy at multi-year low

August 22, 2023

In summary from J.P. Morgan’s proprietary AI quant model latest: Corporate sentiment is weak overall given financial conditions, aggregate sentiment QSI score for the S&P …

Central Banks

NZ analysts say RBNZ Interest rates will remain high for now, rate cuts start next year

August 21, 2023

Via a note from analysts at KiwiBank, their outlook for the Reserve Bank of New Zealand. In (very) brief summary from the note: The RBNZ …