Blogs

Goldman projections are for USD/yuan to 7.25  (three month horizon)  – prior forecast was to 7.15 Out 6 months sees some recxovery to 7.15 – prior 7.05 12 months 7

Caixin/Markit Manufacturing PMI – upbeat on this result with the headline: Key findings  more to come   Over the weekend we got the official PMIs:

Australian and New Zealand dollars consoldiatiiong their gains agains against the USd. They are not alone, GBP (3 week high), CAD higher again and EUR getting in on it also.

Citi warns on the true cost yet to come of the coronavirus pandemic. From the article – We definitely feel that the markets are way ahead of reality. We really are telling every client to tap the market if they can because we think the pricing now couldn't get any better This via a weekend piece […]

Australia – Melbourne Institute monthly CPI inflation for May -1.2 % m/m  – prior -0.1%   +0.1 % y/y For core inflation, measured by the 'trimmed mean:

This quake off the south coast, depth 10km Earlier today a quake shook Tokyo: See here for global coronavirus case data

Australian dollar has hit 0.67, its highest since March So, not much 'risk off' for it due to US riots and China PMIs.  Other currencies too having a good beginning to the week here in Asia, GBP, NZD, CAD all up against the US dollar.

The preliminary Jibun Bank/Markit Manufacturing PMI for Mayis here: l ink  Final result now. South Korean Manufacturing PMI hit its lowest since January of 2009 at 41.3

For imports, down -2.1% y/y (expected -17.9%) – exports per working day -18.4% y/y – semiconductor exports a little brighter, +7.1% y/y More massive: See here for global coronavirus case data

EUR/USD is up on the day amid a weaker dollar but runs into resistance from the late March highs at 1.1147-63 See here for global coronavirus case data The region above remains a key line in the sand limiting further gains in the pair after buyers had built on a break above 1.1000 and the […]