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FxWirePro: Daily Commodity Tracker - 21st March, 2022

U.S. existing home sales decline in August

U.S. weekly jobless claims unexpectedly decrease

Canada's economy shows growth in July, but growth stalled in

Australian economic growth recovers strongly in Q3 2020

U.S. personal income and spending rose less than expected in August

U.S. House prices increase slightly in July

Reserve Bank of India likely to stand pat in December

Swiss franc likely to gradually depreciate against euro in coming months

U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4

Canadian employment likely declined in November, jobless rate to have risen to 9 pct

German Ifo business climate index falls sharply in November, economic growth likely to shrink in Q3

FxWirePro- Bitcoin Whales accumulation (positive for Bitcoin)

U.S. Consumer Confidence falls in September

Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed

Australian private new capital expenditure likely fell further in Q3 2020 - ANZ

Taiwanese money supply continues to see strong growth, CBC likely to keep rates on hold in December

A new equilibrium for CNY?

Thursday, October 8, 2015 6:50 AM UTC

China's onshore market re-opens today after one week Golden Week holiday. PBoC set USD-CNY fixing rate at 6.3505 this morning, compared with 6.3613 one week ago. 

As USD-CNH lowered significantly to 6.34 hurdle during the Golden Week, and onshore USD-CNY closed at 6.3571 before the holiday, today's fixing rate appears to us that China's central bank intends to narrow the spread between onshore and offshore market. CNY-CNH spread also narrowed to less than 50pips this morning, within the normal range that we saw before the "one-off devaluation", notes Commerzbank. 

Analysts need a few days to see whether market could reach a new "equilibrium" around 6.35 level. If this is the case, China's central bank will not need to intervene into the market aggressively. 

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