Blogs

<p>China Securities Journal with reports from analysts seeing scope for cuts to interest rats and the RRR.</p><p>Yuan update, the offshore yuan, CNH finding a bid:</p><p>***</p><p>The Reserve Requirement Ratio (RRR) is a central bank regulation that sets the minimum amount of reserves each bank must hold in

<p>Bank of Japan Governor Ueda spoke earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/boj-gov-ueda-accommodative-financial-conditions-stimulus-is-supporting-japans-economy-20231207/" target="_blank" rel="follow" data-article-link="true">BOJ Gov Ueda: Accommodati

<p>The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li>

<p>Bank of Japan Governor Ueda (bolding is mine):</p><ul><li>Japan's economy to continue recovering moderately, supported mainly by accommodative financial conditions and effects of economic stimulus measures</li><li>Uncertainty over japan's economy extremely high</li><li>Closely watching th

<p>BoA forecast the Bank of Canada to begin its rate cut cycle in june of 2024.</p><p>On Wednesday we had the BoC decision:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-6-dec-bank-of-canada-keeps-rates-unchanged-20231206/" target="_blank" rel="foll

<p>People's Bank of China USD/CNY reference rate is due around 0115 GMT.</p><p>The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan

<ul><li>ANZ are forecasting dot polt cuts at the Federal Open Market Committee (FOMC) meeting next weekexpect the FOMC will lower the 2023 and 2024 dot plot</li><li>dot plot could be cut by 50+bp</li></ul><p>Saying that Fed Funds have not reached predicted levels even though inflation is lower</p><

<p>The dollar is continuing to shrug off the prospect of falling Treasury yields as it would seem other major currencies are faring much worse amid markets aggressively pricing in rate cuts by central banks. The most evident case is the euro, which has fallen for six straight days now against the greenback.</p><p>And as equities a

<ul><li><a href="https://www.forexlive.com/centralbank/bank-of-canada-speakers-thursday-include-governor-macklem-and-deputy-gravelle-20231207/">Bank of Canada speakers Thursday include Governor Macklem and Deputy Gravelle</a></li><li><a href="https://www.forexlive.com/centralbank/more-from-bank-

<p>Chinese trade data for November 2023</p><p>In US dollar terms:</p><p>Trade Balance 68.39bn</p><ul><li>vs. expected 58.0bn and prior 56.5bn</li></ul><p>Exports +0.5% y/y</p><ul><li>expected -1.1%, prior -6.4%</li></ul><p>Imports -0.6% y/y</p&g