CNH: USD/CNY Fixing Nudges Up, USD/CNH Edges Up From Session Lows
The USD/CNY fix was set at 7.0928, 10pips above yesterday's 7.0918 outcome, which was a fresh YTD low. USD/CNH is a little higher post the fixing, last near 7.1265 (earlier lows were at 7.1230), with the market perhaps looking for another fresh low in the fixing outcome. Still, it is unlikely to change the broader trends for USD/CNH, where downside risks still prevail. Recent highs in the pair rest at 7.1300. The fixing error was little changed at -283pips.
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CHINA SETS YUAN CENTRAL PARITY AT 7.1077 WEDS VS 7.1057
- CHINA SETS YUAN CENTRAL PARITY AT 7.1077 WEDS VS 7.1057
RBNZ: Anna Breman, From Riksbank, To Be New Governor From Dec 1
The NZ government has appointed Sweden's Anna Breman to be the new RBNZ governor. Breman will start the position on Dec 1 of this year. Current acting RBNZ Governor Hawkseby will remain in the position until then. Note the last RBNZ policy meeting for 2025 will be held on Nov 26, so the first policy meeting that Breman will be part of is the Feb 18 2026 OCR.
- Breman comes from the Sweden Central Bank, Riksbank, where she is currently First Deputy Governor. Per her bio: "Anna Breman took up the post of Deputy Governor of the Riksbank on 1 December 2019 with a term of office of six years. Ms Breman was appointed First Deputy Governor of the Riksbank with effect from 2 September 2022, and until her period of office expires on 30 November 2025. Anna holds a PhD in Economics and has previously been chief economist and global head of macro research at Swedbank. She has also worked at the Swedish Ministry of Finance, the World Bank and as a researcher in the United States."
BOJ: Rinban Purchase Offer
The BoJ offers to buy a total of Y1135bn of JGBs from the market:
- Y325bn worth of JGBs with 1-3 Years until maturity
- Y325bn worth of JGBs with 3-5 Years until maturity
- Y350bn worth of JGBs with 5-10 Years until maturity
- Y135bn worth of JGBs with 10-25 Years until maturity
