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30 Dec 2014
CNY hits new 6-month low – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that CNY hit new 6-month lows in today’s session, with USD/CNY falling through 6.2370, further adding that the speculation regarding PBoC easing continues.
Key Quotes
“Thin holiday trading conditions persist in the absence of meaningful regional economic or corporate developments. Korean current account and industrial output figures - the only data points for the session - were mixed, with record high CA surplus and a higher than expected y/y decline in production. China HSBC final manufacturing PMI for December is on tap for tomorrow's session.”
“Speculation regarding further PBoC easing measures continues despite the more minor measures announced in recent days. China International Capital Corporation (CICC) anticipates as many as 4 RRR and 2 interest rate cuts next year in spite of weaker Yuan working to curb China's disinflationary forces.”
“CNY has hit new 6-month lows in today's session, as USD/CNY fell through CNY6.2370."
"In the property space, a Mizuho report citing data from China Real Estate Index System (CREIS) forecasted a strong start to 2015 as mortgage rates decline, just as State Council Development Research Center official warned over risks of a property bubble burst on tepid demand."
Key Quotes
“Thin holiday trading conditions persist in the absence of meaningful regional economic or corporate developments. Korean current account and industrial output figures - the only data points for the session - were mixed, with record high CA surplus and a higher than expected y/y decline in production. China HSBC final manufacturing PMI for December is on tap for tomorrow's session.”
“Speculation regarding further PBoC easing measures continues despite the more minor measures announced in recent days. China International Capital Corporation (CICC) anticipates as many as 4 RRR and 2 interest rate cuts next year in spite of weaker Yuan working to curb China's disinflationary forces.”
“CNY has hit new 6-month lows in today's session, as USD/CNY fell through CNY6.2370."
"In the property space, a Mizuho report citing data from China Real Estate Index System (CREIS) forecasted a strong start to 2015 as mortgage rates decline, just as State Council Development Research Center official warned over risks of a property bubble burst on tepid demand."