We are into the third week of the new FX year, China markets (yuan, stocks, HIBOR!) having played a starring role so far.
And, they'll me of much focus again today and this week.
A reminder, if needed, for today:
0115GMT (Actually just after that) - The PBOC announce the central rate for the yuan. the USD/CNY setting has been a function of policy objectives for China last week, the various numerical models haven't picked it at all - the People’s Bank of China wanted a bit of stability for the currency and they made it so. The kept the central USD/CNY rate more-or-less stable all week (since Friday the 8th, actually) and intervened in both the USD/CNH (the offshore yuan) and the yuan HIBOR to crush CNH shorts. CNH shorts won't stay deterred, though.
0130GMT - Chinese stock markets open for trade for the day.
0200GMT - Chinese property prices data released. Most of the focus this week, though, will be on the GDP and other data released on Tuesday (preview here and I'll have some more ahead of the release tomorrow).
Also, from China over the weekend:
- PBOC to impose reserve ratio on offshore yuan accounts
OK, so that's China ... whats all this about Iranian oil?
Over the weekend:
- Sanctions on Iran now lifted so what's next for oil?
- OIL - International sanctions on Iran have been lifted - watchdog confirms nuclear deal
AUD, NZD and CAD have all traded down sharpish in the early goings on. I suspect a 'gap fill' will occur on these, but we'll see!
