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HK/China Equities Test the Line in the Sand; Hang Seng, CSI 300 Price Setups

August 17, 2023

China/Hong Kong equities are testing crucial support areas that could define the trend for the next few weeks, possibly months. What is the outlook and …

Central Banks

Further Chinese intervention to prop up the yuan: State banks USD/CNY sellers

August 17, 2023

Major Chinese State owned banks selling dollars to buy yuan had been doing so earlier this week during Asia hours, also during London and US …

Market Outlook

Hawkish Tilt in Fed Minutes, While Trade Data in Asia Weakened: Gold, USD/SGD, US Dollar

August 17, 2023

It was another down day in Wall Street, as statements from the FOMC minutes did not reflect the level of unity among policymakers to pause …

Central Banks

PBOC sets USD/ CNY central rate at 7.2076 (vs. estimate at 7.3047)

August 17, 2023

The Bank is accepting a falling yuan, but not at the pace the market is pricing. Another huge discrepancy between the modelled expectation and the …

Central Banks

HSBC highlight two continuing headwinds that’ll drive the Chinese yuan even lower

August 17, 2023

HSBC say that CNY could face more headwinds from China’s persistent run of weak data and further widened yield disadvantage And that People’s Bank of …

Central Banks

PBOC is expected to set the USD/CNY reference rate at 7.3047 – Reuters estimate

August 17, 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

RBNZ Orr says Bank’s cash rate projections for next 2 years deviate little from 5.5%

August 16, 2023

Reserve Bank of New Zealand Governor Orr is speaking says the Bank has time to watch and wait (and worry!) on interest rates there are …

Central Banks

Barclays on what’s driving yen selling (spoiler: carry trade). And an intervention warning

August 16, 2023

Barclays analysts say their modelling indicates the recent decline is not explained by rates or equities, but it’s the resurgence of the carry trade that’s …

Cryptocurrency

Coinbase has been given approval to operate a futures trading service

August 16, 2023

Coinbase has been granted regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to introduce crypto futures to its US institutional customers. …

Central Banks

JP Morgan mulls corporate power, higher CPI, requires central banks re-start hiking cycle

August 16, 2023

Summary points of an extended piece from JP Morgan Global Economic Research on the ‘fate of the global expansion’. Global corporate profit gains slowed less …

Central Banks

Morgan Stanley says Fed Reserve Chair Powell will keep his options open at Jackson Hole

August 16, 2023

Global Chief Economist at Morgan Stanley Seth Carpenter on Federal Reserve Chair Powell at the Kansas City Jackson Hole gathering coming up. says Powell will …