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ForexLive Asia-Pacific FX news wrap: USD/CNH hit a 6-month low


News and data flow were
almost non-existent. We did get South Korean December inflation
data:

  • 0%
    m/m (vs. +0.2% expected and -0.5% in November)
  • 3.2%
    y/y (vs. 3.26% expected and 3.3% in November)

It
was a subdued session for major forex rates.

The
Chinese yuan strengthened. The People’s Bank of China set USD/CNY
at 7.0827, its lowest since the end of May. Offshore yuan, USD/CNH,
hit a 6-month low. The higher yuan lent support to the AUD, which
traded in a small range to highs of circa 0.6845 against the USD, before
dribbling off just a few ticks. NZD/USD ticked higher also and hasn’t
dribbled back as much as AUD has. EUR/USD traded in a similar pattern to
AUD/USD.

USD/JPY
is not a lot changed after its wild ride on Thursday.

As
a heads up, China’s National Bureau of Statistics (NBS) is
releasing December official PMIs on Sunday, December 31 (or 123123 if you prefer):

  • at 0100 GMT,
    2000 US Eastern time on Saturday

They really know how to throw a
NYE party that lot!



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Christopher Ryan
Christopher Ryan
5 months ago

I can definitely relate to the frustration of limited news and data flow. In today’s fast-paced world, staying informed is crucial. One of my personal goals is to develop a habit of regularly consuming news from reliable sources. I plan to set aside dedicated time each day to read news articles, watch informative videos, and listen to podcasts to broaden my knowledge and stay updated on current events. Additionally, I want to improve my data analysis skills by taking online courses or attending workshops. Being able to interpret and make sense of data is essential in making informed decisions and understanding trends. By actively pursuing these goals, I hope to stay well-informed and make better-informed choices in my personal and professional life.

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