We still maintain that it’s just a matter of time before one of these fixings comes in much, much weaker than expected. That’s not to say the medium-term trend won’t be a stronger yuan and it’s certainly not to suggest that the PBoC is eager to upset any apple carts ahead of the Party Congress next month. It’s just to say that if there’s anything the PBoC hates, it’s the idea that market participants think the currency is a one way trade. And this is becoming a one-way trade.
Category: yuan
Death By A Thousand Cuts.
The bottom line is that between another powerful hurricane approaching the U.S. mainland, U.S. markets catching up with their global counterparts in terms of pricing in North Korea after the long weekend, the DACA decision which portends more bickering in Washington, and the looming debt ceiling debate (with the specter of a technical default showing up in today’s decidedly poor 4-week bill auction), it was death by a thousand cuts.
One Trader Wishes You’d ‘Stop Pretending That You Care The World’s Ending’
“Just to be clear, nothing moved enough to indicate any panic or identify where safety can really be found. And that isn’t all good. Asset prices pretend to be consumed with issues politic, but in fact trivialize everything.”
Currency Havens For Millennials – And No, Not Bitcoin…
“Sure, they’re unlikely to seek shelter in Bitcoin and other cryptocurrencies just yet, not even Millennials. But they may well prefer a haven basket that includes more”…
Offshore Yuan Falls After Weaker-Than-Expected Fix, Snaps Back
As we’ve said repeatedly, with Chinese equities riding a hot streak, with capital flight seemingly under control, and with a rapidly appreciating yuan bound to weigh on the economy eventually, don’t be surprised if the PBoC takes the opportunity to push back – at least a little bit.Â
This Has Never Happened Before: Offshore Yuan Cements Record Rally
Meanwhile, you already know the story with the offshore yuan. And that story hasn’t changed. In fact, the offshore yuan rose against the dollar for a 14th consecutive session on Monday – that’s the longest streak on record.
Asian Shares Tumble, Gold Rises As North Korea Said Planning New Missile Launch
“Though considered a tail risk, a military confrontation on the Korean peninsula could see Asian currencies falling 5% to 10% and the region’s equities plunging 20%,” UBS Wealth Management Global CIO Mark Haefele and head of Asia Pacific investment Min Lan Tan write in a new note.
Holiday Road.
“Well, that’s nothing to be proud of, Rusty…. 50 yaaaards.”
Offshore Yuan Ties Record, Up 13th Consecutive Day
6.50 doesn’t look far-fetched – at all.
Riders On The Storm.
Right, so the storm wasn’t supposed to come until next month.
‘Bigly’: This Was The Best Month For The Yuan Since It Was Revalued In 2005
We’ve been talking all month about the yuan, and for good reason.
‘Unless There Is A War’ There Is No Stopping The Yuan Train
And to let Jitipol Puksamatanan – a Bangkok-based strategist at Krung Thai Bank – tell it, the only thing that’s going to stop this train is war.
Apocalypse Wow.
The crowds are huge for the end of the world…
‘As Reliable As Gold’: About That ‘Other’ Safe Haven…
“Yuan strength during periods of North Korea related turmoil is becoming as reliable as the demand for yen or gold.”
The Great Flood
Although I can’t imagine why…
Yuan Rides Ridiculous Hot Streak, Now Up 9 Sessions In A Row
Boy, I’ll tell you what, the yuan has got come serious momentum.Â
This Hasn’t Happened To The Yuan Since July Of 2014
“…this wouldn’t be the worst time to create some renewed depreciation.”
‘The Art Of War’ – Is China About To Retaliate With Another Devaluation ‘Shock’?
“There are roads which must not be followed, armies which must be not attacked, towns which must not be besieged, positions which must not be contested…†– Sun Tze, The Art of War
‘Playing With Fire’ – Full Week Ahead Preview
“Deterrence counts on the rationality of the opponents. The build-up of mutual threats and the shows of force in the past weeks have unsettled markets, with risk assets and high-beta currencies underperforming, and it is likely to continue.”
Is This The Market’s New ‘Fear Gauge’?
Who’s afraid of the yuan-won?
Ezekiel 25:17
“And you will know my name is the Lord when I lay my vengeance upon thee!”
Yuan Plunges Most Since January As PBoC Surprises Market With Fix
What you see in that chart folks, is the yuan falling the most against the dollar since January…
The Market Has A New Safe Haven Asset – But You Missed The Rally
How much longer can this run?
Blood On The Streets
Remember, you can always burn your stock certificates to keep warm in a nuclear winter.
Ashes To Ashes: Surveying The Fallout 24 Hours Later
Ok, so “what hath Trump and Kim wrought” for markets 24 hours on?
Yuan Surges To Strongest Level Since October – Here’s Why
Ok, so you should note that the onshore yuan strengthened past 6.70 for first time since October on Tuesday.Â
Presenting: A Crazy Week In Charts
Ok, well this was an interesting week…
You must be logged in to post a comment.