USD receives support from rising US treasury yields while Chinese fundamental data continues to slide. Potential for benchmark rates cuts next week (LPR)
Source
Bullish USD/CNH: High-Flying US Yields, Worsening Chinese Data
access_timeDecember 25, 2024
Latest:
- BOJ governor Ueda: We must raise rates if economic, price developments continue to improve
- People’s Bank of China injects 300 bn yuan in a 1 year MLF at unchanged rate of 2.00%
- Atlanta Fed GDPNow Q4 growth estimate remains at 3.1%
- Richmond Fed composite index -10 versus -10 estimate
- What is moving the market? Where is the market going?
- MUFG Bank see potential for the euro to parity against the US dollar in the next 3 months
- UBS halved its expectation for Federal Reserve rate cuts in 2025, to 50bp only (from 100)
- PBOC sets USD/ CNY reference rate for today at 7.1876 (vs. estimate at 7.3031)
- RBA December minutes: Upside inflation risks had diminished
- PBOC is expected to set the USD/CNY reference rate at 7.3031 – Reuters estimate
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