CNH: USD/CNY Fixing Pushes Higher, Fixing Error Little Changed
Aug-08 01:19
The USD/CNY fix printed at 7.1382, versus a Bloomberg market consensus of 7.1774.
- The USD/CNY fixing rose from yesterday's 2025 low (7.1345), but this was in line with higher market expectations. The fixing error was little changed at -392pips.
- USD/CNH is a touch higher in the first part of Friday dealings, last near 7.1840.
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CHINA SETS YUAN CENTRAL PARITY AT 7.1541 WEDS VS 7.1534
Jul-09 01:15
- CHINA SETS YUAN CENTRAL PARITY AT 7.1541 WEDS VS 7.1534
AUSSIE BONDS: ACGB Dec-35 Auction Result
Jul-09 01:04
The AOFM sells A$1200mn of the 4.25% 21 December 2035 bond:
- Average Yield (%): 4.3442 (prev. 4.4255)
- High Yield (%): 4.3475 (prev. 4.4275)
- Bid/Cover: 2.6500x (prev. 3.1042x)
- Allotted at Highest Accepted Yld as % of Bid at that Yld (%): 3.5 (prev. 34.5)
- Bidders: 29 (prev. 39), 16 (prev. 20) successful, 12 (prev. 12) allocated in full
RBA: MNI RBA Review-July 2025: Easing Bias Still Intact
Jul-09 00:58
- The RBA surprised the market by keeping rates on hold at 3.85%. The central bank wants to see more evidence of inflation sustainably trending towards the 2-3% target before easing more.
- RBA Governor Bullock noted stated the central bank still has an easing bias, and the split vote decision (6 in favor of the hold, 3 in favor or a cut) reflected the timing of further easing rather than the direction of rates.
- If Q2 inflation, the RBA is forecasting a 0.6%q/q outcome for the trimmed mean, prints close to expectations, then this should see an August cut delivered (all else equal).
- See this link for the full review:
