Yuan intervention – China’s major state-owned banks seen selling USD/CNY
China's major state-owned banks seen selling dollars for yuan in onshore spot FX.Reuters report, citing four people with knowledge of the matter. Earlier:Onshore...
European Commission expected to announce Chinese electric vehicle (EV) tariffs this week
The US has already done so:tariffs on Chinese EVs roughly quadrupled The European Commission will announce their tariffs on Chinese electric vehicles (EVs)...
Onshore yuan (CNY) has dropped to its weakest since mid-November 2023
The US dollar has been supported against the yuan by interest rate differentials, US Treasury yields have firmed again since the very strong...
Daily Broad Market Recap – June 10, 2024
Markets seemed to be off to a slow start this week, but could this just be the calm before the storm? Here’s how...
USD/JPY sticks to modest intraday gains above 157.00 mark, over one-week high
The USD/JPY pair scales higher for the third straight day – also marking the fourth day of a positive move in the previous...
Bloomberg: Chinese Builder Dexin Receives Liquidation Order From Hong Kong Court
Another one bites the dust in China's drowning- in-debt property sector. Bloomberg is gated. Dexin is not a huge developer, described as 'medium...
Toyota’s vehicle certification misconduct may violate UN standards
This has been ongoing for some time, irregularities in applications to certify certain models of vehicles. I posted here for background:Japan's transport ministry...
China doing a Chuck Norris on gold – waiting and watching
China is the world's biggest official sector buyer of gold.In May the People's Bank of China 'paused' buying, higher prices cited:GOLD ICYMI: People's...
Gold price seems vulnerable ahead of US CPI and FOMC decision on Wednesday
Gold price (XAU/USD) gained some positive traction on the first day of a new week and reversed a part of Friday's post-NFP slump...
Australian May business confidence -3 (prior 1.0)
National Australia Bank Business Survey for May 2024 Business Confidence -3prior revised to 2Business Conditions 6prior 7conditions tends to be a more objective...