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China may be clearing some of their USD FX reserves

Posted by Mingze Wu at 1:26 am EDT, 05/21/2013

Reports that China may step up the diversification of its huge foreign exchange reserves is not great news for U.S. Treasurys, already under pressure from talk about an easing in the Federal Reserve’s bond-buying program. But, the fall-out from such a move is likely to be limited, analysts say. The body that manages China’s currency reserves has set up an operation in New York to invest in private equity, real estate and other assets as it steps up its diversification away [...] read more

Filed under: Forex Round Up, USD, CNY

CNY Roundup

Chinese Trade Surplus suspected to be 900% overstated
Posted by Mingze Wu at 1:23 am EDT, 05/21/2013
Chinese Bad Debt Worse Than We Think
Posted by Mingze Wu at 1:21 am EDT, 05/21/2013
Chinese Property Prices Continue to Climb
Posted by Mingze Wu at 9:46 pm EDT, 05/19/2013
Week in FX Asia – Aussie And Yen Remaining The Whipping Currency Of Choice
Posted by Dean Popplewell at 9:23 am EDT, 05/17/2013
Asian Currencies Drop Again on Yen Weakness
Posted by Stuart McPhee at 12:59 am EDT, 05/17/2013

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Central Bank Watch »

Bank of China Could Change Monetary Policy to Curb Yuan Specultion

Posted by Alfonso Esparza 9:52 am EDT, 05/08/2013

China’s central bank signaled on Wednesday it was prepared to change its monetary strategy to fend off inflows of speculative capital, as Beijing struggles to control a tide of cash washing in from overseas markets. The move came as April exports blew past expectations, which appeared on the surface to indicate that both China’s economy and global demand were on the mend. But economists were quick to suspect the figures were artificially inflated by investors who were disguising speculative bets [...] read more

Filed under: CNY

Economic Exposure »

AUD/USD – Growth in Chinese Imports/Exports continue

Posted by Mingze Wu 11:42 pm EDT, 05/07/2013

China latest trade balance for the month of April came in at $18.16B USD, a huge reversal from the 0.88B deficit of March. This print is also 2 billion higher than anticipated, suggesting that the previous deficit may be a seasonal rather than a structural issue. Regardless whether the headline figure is a good representation of Chinese economic health, the underlying numbers are actually highly encouraging – Exports grew 14.7% Y/Y vs an expected 9.2%, while Imports grew 16.8% vs [...] read more

Filed under: USD, AUD, CNY

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May
22
Today’s Global
Market Events
Tentative
JPY
BOJ Press Conference
4:00am
EUR
Current Account
(F)14.2B (P)16.3B
4:30am
GBP
MPC Meeting Minutes
(F)0-0-9 (P)0-0-9
GBP
Retail Sales m/m
(F)0% (P)-0.7%
GBP
Public Sector Net Borrowing
(F)7.6B (P)16.7B
EUR
German 10-y Bond Auction
(F)N/A (P)1.28/1.6
All Day
EUR
EU Economic Summit
6:00am
CHF
SNB Chairman Jordan Speaks
GBP
CBI Industrial Order Expectations
(F)-18 (P)-25
7:00am
GBP
MPC Member Bean Speaks
8:30am
CAD
Core Retail Sales m/m
(F)0.2% (P)0.7%
CAD
Retail Sales m/m
(F)0.2% (P)0.8%
10:00am
USD
Existing Home Sales
(F)4.99M (P)4.92M
USD
Fed Chairman Bernanke Testifies
USD
Treasury Sec Lew Speaks
10:30am
USD
Crude Oil Inventories
(F)-0.4M (P)-0.6M
2:00pm
USD
FOMC Meeting Minutes
9:00pm
AUD
MI Inflation Expectations
(F)N/A (P)2.2%
9:45pm
CNY
HSBC Flash Manufacturing PMI
(F)50.5 (P)50.4