CNH: USD/CNY Fixing Firmer, Error Term Widens Again
May-09 01:18
The USD/CNY fix printed at 7.2095, against a BBG market consensus of 7.2520.
- The fixing is the highest since Apr 24, but keeps us within recent ranges. The fixing error re-widened to -425pips from -281pips yesterday, in line with stronger USD index levels.
- USD/CNH is little changed so far today, holding close to 7.2425 in latest dealings.
- Coming up today we should get the April trade activity.
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CHINA SETS YUAN CENTRAL PARITY AT 7.2066 WEDS VS 7.2038
Apr-09 01:16
- CHINA SETS YUAN CENTRAL PARITY AT 7.2066 WEDS VS 7.2038
AUSSIE BONDS: Smoothly Absorbed With Solid Demand Metrics
Apr-09 01:13
The latest round of ACGB Nov-28 supply sees the weighted average yield print 0.74bps through prevailing mids (per Yieldbroker), extending the recent trend of firm pricing at ACGB auctions.
- Moreover, the cover ratio increased to 4.5550x from 4.1214x.
- The significantly lower outright yield did not appear to dampen demand.
- Bidding interest was likely underpinned by rising market expectations for RBA easing in 2025, the bond’s inclusion in the YM futures basket, and renewed haven demand.
- Following the auction, YM showed little reaction, with the Nov-28 bond holding steady around pre-auction levels in cash trading.
AUSSIE BONDS: ACGB Nov-28 Auction Results
Apr-09 01:04
The Australian Office of Financial Management (AOFM) sells A$1000mn of the 2.75% 21 November 2028, # TB152:
- Average Yield (%): 3.2952 (prev. 4.1189)
- High Yield (%): 3.3000 (prev. 4.120)
- Bid/Cover: 4.5550x (prev. 4.1214x)
- Allotted at highest accepted yld as a % of the bid at that yld (%): 50.3 (prev. 76.9)
- Bidders: 48 (prev. 33), successful 14 (prev. 7), allocated in full 11 (prev. 2)
