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CNH/JPY News
Inflation data easing suppresses the rise of the US dollar, while political risks in the Japanese yen and other countries' currencies are on the rise.
Last week, economic data solidified the market's expectation of a US interest rate cut this year, narrowing the dollar's upward momentum.
htsc: Overseas growth momentum is slowing down, and short-term political events dominate sentiment.
The Federal Reserve kept the benchmark interest rate at 5.25%-5.5% in June FOMC. The dot plot lowered the number of rate cuts in 2024 from three to one, and the cumulative number of rate cuts from 2024 to 2026 remained at eight, overall with a hawkish tone. However, Powell said that the future interest rate path still depends on data, and there is still a possibility of a rate cut in September.
China's Current Account Surplus Reaches 281 Billion Yuan in Q1
China logged a current account surplus, or the surplus from the country's foreign payments and receivables, of 281.4 billion yuan, in the first quarter, according to data by the State Administration of Foreign Exchange released Friday.
State Administration of Foreign Exchange: in May, banks completed CNY 1.25 trillion in foreign exchange purchases, and CNY 1.36 trillion in foreign exchange sales.
On June 17, the State Administration of Foreign Exchange released the data for May 2024 on bank foreign exchange transactions and bank customers' foreign exchange payment and receipt.
The People's Bank of China has just released the latest figures! From January to May, new social financing amounted to 14.8 trillion yuan, a year-on-year increase of 7% for M2.
RMB loans increased by 11.14 trillion yuan in the first five months, while RMB deposits increased by 9 trillion yuan.
Manufacturing PMIs Signal Global Industry Rebound in 2Q -- Market Talk
The latest manufacturing PMIs suggest the global industry recovery has gathered momentum so far in 2Q and price pressures have risen.
National Bureau of Statistics: The official manufacturing PMI was 49.5% in May, and enterprise production continued to expand
The production and operation activities of enterprises have maintained the trend of resuming development
Global central bank policies are becoming fragmented, and the foreign exchange market is surging undercurrent
The policy trends of central banks around the world are divided, and foreign exchange traders have already begun to “rub their hands.”
China's Consumer Prices Rise For Third Month in April
China's consumer prices edged up for a third straight month in April, exceeding market expectations, according to data from the National Bureau of Statistics released on Saturday. The Consumer Price I
Breaking: China's GDP Expands 5.3% YoY in Q1 2024 Vs. 5.0% Expected
China’s economy expanded 5.3% over the year in the first quarter of 2024, as against a 5.2%% growth in the final quarter of 2023, the official data released by the National Bureau of Statistics (NBS) showed on Tuesday.
China's New RMB Loans Hit 9.5 Trillion Yuan in Q1
China issued 9.46 trillion yuan of renminbi-denominated loans in the first quarter of 2024, according to data from the People's Bank of China on Friday. In 2023, China's first-quarter new yuan loans h
China Central Bank Keeps Key Policy Rates Steady
China's central bank kept key policy rates steady on Monday, suggesting that benchmark loan rates could remain on hold later this month. The People's Bank of China kept the one-year medium-term lendi
Economy on Stable Footing, Experts Say
China's economy has started 2024 on a stable footing, indicating a sustained trajectory of robust recovery throughout the year, despite pressures and challenges both at home and abroad, officials and analysts said on Thursday.
National Bureau of Statistics: PPI fell 2.8% year on year in March, down 0.1% month on month
In March 2024, the ex-factory prices of industrial producers across the country fell 2.8% year on year and 0.1% month on month.
Chinese Retail Sector Expands for 12th Straight Month, Survey Says
China's retail sector expanded for the 12th consecutive month in April, with the Chinese Retail Performance Index at 50.4%, Xinhua News Agency reported Sunday, citing a survey by the China General Chamber of Commerce.
China Forex Reserves Edge Higher, New Tech Lending Program Announced
Country's foreign-exchange reserves edged up in March, while the People's Bank of China announced a new relending program to sponsor tech development. The country's foreign-exchange reserves rose $19
China's Service Economy Expands Further, Caixin PMI Shows
A private gauge of China's services activities edged deeper into expansionary territory for a 15th straight month in March.
China's Services Sector Extends Growth in March
China's services purchasing managers index or PMI rose to 53 in March, up 1.6 percentage points from the prior month, according to data published by China's National Bureau of Statistics on Sunday.
Major Currencies Could Stick to Recent Trading Ranges as Rate Cuts Coincide -- Market Talk
Major currencies could continue to stick within recent ranges as central banks look set to cut interest rates roughly in tandem, says Mark Haefele, chief invetment officer in UBS Global Wealth Management in a note.
Yuan Weakens, Dragged by PBOC's Markedly Lower CNY Fixing -- Market Talk
The yuan weakens against the dollar in onshore and offshore markets after the People's Bank of China lowered the daily CNY fixing by the most since early February earlier in the Asian session.