EUR-HUF reverses decline despite better trade data as foreigners sell assets
Aug 11, 2015 07:22 am UTC| Commentary
EUR-HUF has come under upside pressure again now that a September Fed rate hike is being definitively priced in by EM assets, HUF has been an outperformer within CEE in recent weeks, but at an absolute level, EUR-HUF has...
Chinese Yuan to be more market oriented going forward
Aug 11, 2015 07:16 am UTC| Commentary
The PBoC surprisingly spiked the USD-CNY fixing by 1136pips or 1.86% tonight to 6.2298, the biggest daily deprecation since 1994. While the weak trade figures should have pushed the USD-CNY fixing to the weak side, this...
China’s M2 growth exceeded 13% for the first time in one year
Aug 11, 2015 07:13 am UTC| Commentary
Chinas monetary data came in quite surprising this night. The M2 growth picked up to 13.3% y/y in July, much higher than 11.7% in the prior month and the PBoCs target of 12.0%. In fact, in Q2 monetary policy implementation...
RUB appreciation potential remains limited
Aug 11, 2015 07:11 am UTC| Commentary
At the beginning of the week, USD-RUB traded around 64, i.e. at the same level as at the end of last week. At least the RUB did not come under further pressure yesterday. One reason was probably that the USD has not yet...
Supply-demand dynamics expected to remain favorable in CNH CCS market
Aug 11, 2015 06:58 am UTC| Commentary
The PBoC took a major decision this morning to improve the pricing mechanism of the daily fixing rate. With the bank now moving towards a currency management mechanism to reflect where spot CNY is trading, the risks are...
Gold hit by Dollar strength after PBOC decision
Aug 11, 2015 06:50 am UTC| Commentary
Bullion rose above the $1,100 mark in the previous session on comments from the Feds Fischer, before reversing later as a devaluation of the Chinese Yuan pushed the US dollar in the opposite direction.Gold hit a fresh...
China devalues Yuan to boost economy
Aug 11, 2015 06:49 am UTC| Commentary
The Peoples Bank of China, the countrys central bank, has devalued the nations currency to its lowest rate against the US dollar in nearly three years.The PBOC sets the exchange rate using the official midpoint, from which...