China’s LPR still has downward space in H2 – Herald

“China’s financial regulators are likely to guide down banks’ capital costs to drive down their Loan Prime Rate quotations in H2, thereby reducing the loan interest rates for enterprises and residents,” the 21st Century Business Herald reported, citing analysts. Additional comments “LPR, based on the rate of PBOC’s medium-term Lending Facility and quotations submitted by … Read more

Pullback from monthly hurdle tests buyers around 6.7700

USD/CNH retreats from four-week-old horizontal resistance, tests weekly support line. Bullish MACD signals, sustained trading above 200-SMA keeps buyers hopeful. Buyers have multiple hurdles to cross stay on merit versus the sellers. USD/CNH consolidates recent gains around the monthly high, retreating from a short-term horizontal resistance towards 6.7700 during Tuesday’s Asian session. In doing so, … Read more

Chinese economy likely rebounded in May – Yicai

The Chinese economy likely rebounded in May as declines in industrial output and consumption narrowed, Yicai.com reported, citing economists. Additional takeaways “Economists surveyed by Yicai expected industrial output fell 0.49% y/y in May, compared to the 2.9% decline in April, as power consumption by industrial enterprises in Shanghai recovered to 80.5% of the same level … Read more

6.7182 vs previous fix 6.6994

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.7182 vs. the previous fix of 6.6994 and previous close of 6.7081. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this … Read more

USD/CNH retreats from weekly high as sellers attack 6.7000 on mixed China inflation

USD/CNH snaps three-day uptrend following unimpressive China CPI, PPI. Shanghai and Beijing unveiled fresh activity restrictions after dialing back some a few days back, mass testing is on the way. Risk-off mood ahead of US inflation data challenge bears. USD/CNH pulls back from a weekly top, refreshing an intraday low around 6.6950, even as China’s … Read more