Trends - PBOC - Business Recorder

Markets

Yuan eases after flurry of official warnings, but bullish bets rise

However, a Reuters poll showed on Thursday that bullish bets on the yuan have hit a near six-month high.

Published 03 Jun, 2021 12:19pm

Markets

China's banks are bursting with dollars, and that's a worry

Onshore dollar deposits top $1 trln.
Cash pile supports yuan just as authorities seek to temper rally.
Traders see risk that dollar selling crushes dollar/yuan.

Published 01 Jun, 2021 08:39pm

Markets

China lifts yuan midpoint to new 3 year high, basket index at highest since 2016

The People's Bank of China (PBOC) set the midpoint rate at 6.3682 per dollar prior to the market open.

Published 31 May, 2021 11:24am

Markets

Yuan advances to new 3 year high as PBOC yet to show discomfort with recent gains

At midday, the global dollar index fell to 90.037 from the previous close of 90.073, while the offshore yuan was trading at 6.3794 per dollar.

Published 27 May, 2021 12:23pm

Markets

Yuan jumps to 3 year high, investors wary of PBOC pressure

The offshore yuan also followed its onshore counterpart's appreciation in morning trade to test the key 6.4 per dollar level. It jumped to a high of 6.4010 before trading at 6.406 per dollar as of midday.

Published 25 May, 2021 11:16am

Markets

Yuan edges up as PBOC reiterates no change to FX policy

In the spot market, onshore yuan opened at 6.4380 per dollar and was changing hands at 6.4330 at midday, 15 pips firmer than the previous late session close.

Published 24 May, 2021 11:06am

Markets

Yuan eases as FX demand for dividend payments kicks in

"The PBOC's Q1 monetary policy report suggests that the central bank is not worried about imported inflation, despite that it expects PPI to rise further in Q2 and Q3," said Frances Cheung, rates strategist at OCBC Bank in Singapore.

Published 12 May, 2021 12:33pm

Markets

Yuan set for longest weekly winning streak since Sept

Export growth unexpectedly picked up in April, data showed on Friday, as the world's second-largest economy extended its recovery from the COVID-19 pandemic.

Published 07 May, 2021 11:24am

Markets

Yuan weakens to 1-week low as market plays catch-up with firmer dollar

Loose cash conditions usually weigh on the currency.

Published 06 May, 2021 02:47pm

Markets

Yuan flat before Fed outcome, wary on Huarong developments

Some market participants say developments around Chinese state-owned bad loan giant China Huarong Asset Management Co have also lent a cautious air to yuan trading.

Published 27 Apr, 2021 12:15pm

Markets

Yuan inches up, markets await key policy meetings

The country's foreign exchange trading platform releases data on a weekly and monthly basis.

Published 26 Apr, 2021 11:22am

Markets

Yuan off 6-week high, investors await global central bank policy signals

China's official PMI is due for release next Friday.

Published 23 Apr, 2021 11:27am

Markets

Yuan eases as investors focus on Sino-US tensions, tighter cash conditions pare losses

The domestic currency market largely ignored the US Treasury Department's decision not to label China as a currency manipulator in the first semi-annual foreign exchange report issued by Treasury Secretary Janet Yellen.

Published 19 Apr, 2021 11:22am

Markets

China's Ant explores ways for Jack Ma to exit as Beijing piles pressure

The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government.
Ant denied that a divestment of Ma's stake was ever under consideration. "Divestment of Mr. Ma's stake in Ant Group has never been the subject of discussions with anyone," an Ant spokesman said in a statement.

Published 17 Apr, 2021 05:37pm

Markets

China opens its borders to multi-billion dollar gold imports

BEIJING/LONDON/BENGALURU: China has given domestic and international banks permission to import large amounts of ...

Published 17 Apr, 2021 03:28am

Markets

Yuan eases on higher corporate dollar demand, investors await Q1 GDP

"We expect real GDP growth to have jumped to 20% year-on-year in Q1 from 6.5% in Q4-2020, led by an overheated industrial sector and a recovering services sector," economists at Standard Chartered said in an earlier note.

Published 15 Apr, 2021 11:22am

Markets

Yuan eases as investors look to US inflation data

"Although China's aggregate finance grew at a slower pace than last year, yuan loan growth was faster than a year ago, showing that shadow banking has continued to shrink," Iris Pang, chief economist for Greater China at ING, said in a note.

Published 13 Apr, 2021 11:02am

World

China March new bank loans rise but broad credit growth eases

March new loans 2.73 trln yuan vs forecast 2.45 trln yuan.
Q1 new loans at record high - Reuters calculations.
March M2 money supply +9.4% y/y, vs forecast of +9.6%.
Outstanding TSF +12.3% Y/Y, vs 13.3% in Feb.
March TSF 3.34 trln yuan, vs forecast 3.70 trln yuan.

Published 12 Apr, 2021 06:31pm

Markets

Yuan eases as Sino-US tensions, uncertainty over global monetary outlook weigh

The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the US currency.

Published 12 Apr, 2021 01:34pm

Markets

Yuan edges up as investors catch up with dollar weakness after holiday

The dollar sank to an almost two-week low against its major trading partners, moving in tandem with retreating Treasury yields from recent peaks despite signs of a robust US economic recovery.
In the spot market, the onshore yuan trading unchanged fron the open at 6.5550 per dollar, 125 pips firmer than the previous late session close on Friday.

Published 06 Apr, 2021 09:54am

Markets

Yuan inches up, but set for longest weekly losing streak since 2018

He maintained his forecast for the yuan to trade at 6.4 per dollar at end-June but ease to 6.45 at end-2021.

Published 02 Apr, 2021 10:49am

Markets

Yuan off lows on upbeat PMI data, but set for worst month since Aug 2019

The PBOC has kept rolling over 10 billion yuan worth of maturing reverse repos, resulting in zero net cash injection for 23 straight trading days, which included Wednesday - the last trading day of the month.

Published 31 Mar, 2021 11:40am

Markets

Yuan slips to 4-month low, set for worst month since Aug 2019

Foreign capital inflows were among one of the key factors supporting the yuan last year.

Published 30 Mar, 2021 10:52am

Markets

China's yuan weakens on dollar strength, Sino-US tensions

The People's Bank of China (PBOC) set the midpoint rate at 6.5098 per dollar prior to the market open, 239 pips weaker than the previous fix of 6.4859.

Published 19 Mar, 2021 10:04am

Markets

China bond markets barely blink on glut of local govt issuance

SHANGHAI: China’s efforts to keep funding markets stable and cheap were on full display this week as a glut of...

Published 15 Mar, 2021 05:22am

Markets

Yuan briefly hits one-week high, market awaits Fed and Sino-US meeting next week

Chinese diplomats will meet with US officials in Alaska on March 18 and 19, a Chinese foreign ministry spokesman said on Thursday.

Published 12 Mar, 2021 11:01am

Markets

China bond markets barely blink on glut of local govt issuance

China set the special LGB issuance quota at 3.65 trillion yuan for 2021, from 3.75 trillion yuan last year.

Published 12 Mar, 2021 10:59am

Markets

China stocks jump on upbeat lending data, Hong Kong tracks Wall Street rally

Sino-US relations re-emerged as another key market focus as US Secretary of State Antony Blinken will meet with top Chinese officials on March 18 in Alaska, the White House said on Wednesday, the first high-level in-person contact between the two sparring countries under the Biden administration.

Published 11 Mar, 2021 12:03pm

Markets

China's yuan firms on dollar weakness, stronger guidance

The global dollar index fell to 91.784 from the previous close of 91.814.

Published 11 Mar, 2021 11:50am

Markets

China lowers yuan midpoint to 2-month low, pushing CFETS basket index to highest since June 2018

The weaker fixing has pushed China's trade-weighted yuan basket index to 97.06, the highest since June 22, 2018, according to Reuters' calculation based on official data.

Published 05 Mar, 2021 10:26am