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China’s stock market rescue brings in reinforcements

China’s “National Team”, the nickname given to state-backed entities tasked with rescuing markets, are doubling their efforts, upping purchases of exchange-traded funds (ETFs) while restricting certain undesirable activities detrimental to stock prices. So far, indices such as the A50 are rallying.

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February 5, 2024 09:57 PM
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China’s ‘National Team’ may be mobilising to stabilise its crumbling equity markets

China’s ‘National Team’ – a collection of state or quasi state-backed entities tasked by the government to smooth out financial market ructions when the prevailing price action is deemed desirable – looks like it may have been mobilised with China’s A50 ripping higher late Thursday and going on with the move today.

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January 18, 2024 11:49 PM
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USD/CNH down, A50 up as weak Chinese inflation keeps stimulus hopes alive

Chinese inflationary pressures remain weak, whether it be upstream or for consumers. But with expectations for further stimulus from the Chinese policymakers baked in the cake, does it have implications for China’s equity market or currency?

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January 11, 2024 09:46 PM

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USD/CNH, AUD/JPY: China ‘data dump’ relieves pressure on yuan, Australian dollar

China’s August “data dump” has come in ahead of expectations, solidifying the view activity in the world’s second-largest economy is beginning to stabilise.

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September 14, 2023 10:42 PM
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USD/CNH: Turning point as yuan strengthens despite US core CPI strength?

USD/CNH has broken out of the range it’s been in since July, signaling a potential period of consolidation, or even a reversal, from the prevailing bullish trend.

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September 13, 2023 07:33 PM
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USD/CNH: Encouraging signs from China’s economy may spark deeper reversal

The Chinese yuan looks set for its largest gain against the US dollar since March, propelled higher a triple-whammy of factors.

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September 11, 2023 02:38 AM
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China A50: upside risks for earnings grow as stimulus ramps up

Comprising huge financial and property firms, China's A50 may benefit from the rapid rollout of stimulus measures.

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August 29, 2023 08:57 PM
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USD/CNH, China A50 vulnerable as stimulus measures disappoint

China cuts benchmark interest rates less than expected, adding to concerns about the trajectory for Chinese markets and the economy.

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August 20, 2023 10:45 PM
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USD/CNY: PBOC ramps up efforts to defend the yuan

The People's Bank of China delivers the strongest USD/CNY fix relative to expectations on record.

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August 17, 2023 09:36 PM
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AUD/USD, USD/CNH whipsawed as PBOC cuts rates

USD/CNH rallies as the PBOC unexpectedly cuts wholesale interest rates. AUD/USD gains on stimulus hopes.

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August 14, 2023 11:16 PM
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China ready to intervene in USD/CNH; Tells banks to prepare

After the BOJ and the BOE intervened in the markets, traders are asking “Who’s next?”.

September 29, 2022 12:01 PM
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European Open: The PBOC cut lending rate, EUR/CHF set for new lows?

The PBOC lifted China’s equity markets and commodity FX pairs with another round of easing, aimed at supporting their flailing property market.

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Could the PBOC allow USD/CNH to head for 7.000

USD/CNH enjoyed its best day since the pandemic yesterday following China’s weak data, as the PBOC seemingly want to allow their currency to slide to help support the economy.

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China CPI, PPI, and RRR

The most impactful piece of news from China was the increase in the Reserve Requirement Ratio (RRR) by the PBOC from 7% to 9%

December 9, 2021 12:19 PM
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European Open: PBOC to ‘take it easy’ on XI’s command?

The independence of China’s central bank is being questions on reports that China’s top anticorruption agency have been the PBOC’s offices after the past few weeks.

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December 9, 2021 12:31 AM
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Are China’s problems finally catching up? USD/CNH

It appears that the PBOC couldn’t keep the Yuan down any longer and may have “let it go” to take out stops below the market

October 19, 2021 01:06 PM
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People’s Bank of China: a guide to China’s interest rates

The People’s Bank of China is somewhat of an enigma compared to other central banks. Find out everything you need to know about the PBOC and how its meetings influence financial markets.

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April 28, 2021 01:26 AM

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Stocks rebound on PBoC as EZ deflation boosts ECB QE prospects

The European stock markets started the new week and the last day of February on the back foot this morning. The kick-back rally had actually fizzled at the end of last week when oil prices also retreated from their recent highs due in part to profit-taking, while at the weekend, the G20 meeting ended with few surprises. News that German retail sales grew by an above-forecast 0.7 per cent month-over-month in January was offset by data showing a sharp 1.5% drop in import prices. Then at 10:00 GMT this morning, stocks jumped on the back of news the People’s Bank of China (PBoC) has cut banks' reserve requirement ratio by an additional 50 basis points. At the same time, fresh inflation data showed consumer prices in the Eurozone unexpectedly fell by 0.2% year-over-year in February, which raised the probability we may see the introduction of further monetary stimulus from ECB next month.

AUD/USD bounces on PBOC & Chinese trade data, but is it a false dawn?

It’s said that the night is blackest just before the dawn, and investors clearly had a very dim short-term outlook on China’s economy earlier this week. After some aggressive action from the People’s Bank of China (PBOC) and better-than-expected trade data, there is a glimmer of hope on the horizon, but only time will tell if it’s a false dawn or a real sign that things are getting better in the world’s second-largest economy.