CNY liberalization takes leap forward
Aug 11, 2015 06:26 am UTC| Commentary
China announces biggest adjustment to CNY fixing on record, moving the USDCNY fixing higher by 1.9%, in what the PBoC noted as a one-off adjustment. The PBoC highlighted that the "yuan exchange rate has deviated from...
Impacts of CNY devaluation on China and global economy
Aug 11, 2015 06:22 am UTC| Commentary
If the devaluation implies a changed currency policy from Beijing and a prolonged CNY weakness, it would be bad news for the world economy. China is the worlds largest exporting nation and adopting a beggar-thy-neighbour...
Aug 11, 2015 06:17 am UTC| Commentary
Officially, CNY devaluation was a result of further currency liberalisation because the PBoC has adopted a market approach in setting the daily fixing rate. Effective from today, the fixing rate would be based on market...
Hungarian Forint: 1-3 Month Outlook
Aug 11, 2015 06:10 am UTC| Commentary
Hungarys inflation is rising, but it is still well below the inflation target of 3.00%. The country posted inflation at 0.6% y/y in June as expected by consensus.NBH announced the easing cycle is over after cutting its key...
Unexpected CNY devaluation signals Beijing in crisis mood
Aug 11, 2015 06:00 am UTC| Commentary
In a surprise move, the PBoC effectively devalued the CNY today. The official explanation was the adoption of a market-based approach on setting the fixing rate, but the rising growth concerns played a bigger role."The...
Korean Won's grinding weakness
Aug 11, 2015 05:51 am UTC| Commentary
Korean Won (KRW) is one of the biggest potential losers from continued JPY and CNY weakness, which is expected. South Korea has the highest export correlation and lowest exportcomplementarity with Japan and China. BoK...
BOK's 25 bps cut to be last in the cycle
Aug 11, 2015 05:47 am UTC| Commentary
South Koreas PM Hwang declared a "de facto end" to the outbreak of the Middle East Respiratory Virus (MERS). The outbreak had prompted sharp KRW selling in June on concerns it would exacerbate the downtrend in exports and...