Yuan fix stable as calm returns to markets

The last fix of the week is in and the PBOC has continued its “steady as she goes…under” mood, with the mid-point set at 6.5572, slightly lower than yesterdays 6.5582

Chinese stocks look set to open up 1-2% while its all good in Japan, with the Nikkei up 3%

On Australian stocks, the ASX200 is up 1.5% at lunch, with most of the heavy lifting from resources. BHP gapped up 7% on the open, now up 8% and following oil prices as are the LNG majors, with Santos up 11%, Origin 3% and LNG up 6%

Curiously all this “good” news – or absence of bad – has been factored in to the Aussie dollar, which is just hovering at 70 cents against the USD:

AUDUSDM30

Comments

  1. Josh MoorreesMEMBER

    Well I just bought some more USD so probably a good sign that the AUDUSD is set to rally another 3 cents like last time.

    RIO flirting with the $40 mark, the question is should you sneak in a short before reporting on the 11/2?
    Edit: looks like it has cleanly respected the upper bound of the down trend around 39.93. Maybe if the dead cat follows through tonight in Europe we’ll break through the channel?