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Reuters - 2 days ago

China's yuan flat despite weak dollar as easing expectations weigh

China's yuan flat despite weak dollar as easing expectations weigh SHANGHAI, Sept 6 (Reuters) - China's yuan was steady on Friday, as easing expectations offset the positive impact from a weaker dollar. It CNY=CFXS changed hands at roughly 7.090 per dollar at midday, barely moving from the previous day's close. The Chinese currency has strengthened more than 2.6% since the end of July, as the greenback =USD weakened amid growing bets on a U.S.
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Reuters - 3 days ago

FX options wrap - USD puts and major event risks drive market

BUZZ-FX options wrap - USD puts and major event risks drive market The USD has been under renewed pressure since Wednesday's U.S. jolts data and the market is on high alert for Friday's U.S. jobs data and its potential to sway the U.S. Fed into a 50bps cut on Sept. 18. Overnight expiry now encompasses Friday's jobs report, and the sharp rise in related implied volatility highlights the largest realised volatility risk premium for any jobs data release this year .
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Reuters - 3 days ago

EM currencies broadly up as dollar wavers on hopes of bigger Fed rate cuts

EMERGING MARKETS-EM currencies broadly up as dollar wavers on hopes of bigger Fed rate cuts China offers Africa $51 bln in fresh funding Mexico's peso briefly hits 20 per dollar India's rupee hits record low vs dollar EM stocks up 0.3%, FX adds 0.2% By Shashwat Chauhan Sept 5 (Reuters) - Most emerging market currencies edged up against a wavering dollar on Thursday as bets on bigger interest rate cuts by the Federal Reserve grew, with focus on more U.S.
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Reuters - 3 days ago

China's yuan gains as dollar hit by rising bets of larger US rate cut

China's yuan gains as dollar hit by rising bets of larger US rate cut By Summer Zhen HONG KONG, Sept 5 (Reuters) - China's yuan extended recent advances on the dollar on Thursday as the U.S. currency struggled against the backdrop of rising expectations for an outsized rate cut from the Federal Reserve following weaker U.S. economic data. All eyes are on the U.S.
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Reuters - 4 days ago

FX options wrap - JPY surge, NFP risk, long gamma, CHF puts

BUZZ-FX options wrap - JPY surge, NFP risk, long gamma, CHF puts Risk aversion and JPY gains are driving JPY related implied volatility and its JPY call over put skew higher. USD/JPY 1-month expiry implied volatility from 11.9 to 12.9 this week and 1-month 25 delta risk reversals regaining 2.0 from 1.6 vol premium for downside strikes. JPY call buying has dominated flows, with 140.00 being a popular strike .
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Reuters - 4 days ago

China's yuan firms with dollar steady, eyes on US payrolls

China's yuan firms with dollar steady, eyes on US payrolls SHANGHAI, Sept 4 (Reuters) - China's yuan firmed on Wednesday as the U.S. dollar stabilised after climbing to a two-week high, as traders digested a slew of China's economic data and await U.S. payrolls data due on Friday. Growth in China's services sector activity slowed in August despite the summer travel peak, prompting some firms to cut staff amid concerns about rising costs, a private-sector survey showed on Wednesday.
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Reuters - 5 days ago

FX options wrap - USD puts, NFP risk, JPY 140, huge euro

BUZZ-FX options wrap - USD puts, NFP risk, JPY 140, huge euro Sept 3 (Reuters) - Broader FX option implied volatility setbacks remain limited ahead of Friday's U.S. jobs data and the strong risk premium for Friday expiries shows a market prepared for FX realised volatility to increase . Shorter dated expiry USD puts have been more sought and demand more premium than USD calls against many currencies.
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Reuters - 5 days ago

FX options more concerned about NFP miss, than beat

BUZZ-COMMENT-FX options more concerned about NFP miss, than beat Sept 3 (Reuters) - It should be no surprise that the premium for forward-looking FX options that would protect investors against NFP-induced FX volatility is high, but pricing and trade flows suggest that volatility could be greater in the event of an NFP miss, than beat. Volatility is an unknown yet key parameter of an FX option premium, so dealers substitute it with implied volatility.
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Reuters - 6 days ago

FX options wrap - Big expiries, NFP storm, directional flip

BUZZ-FX options wrap - Big expiries, NFP storm, directional flip Huge FX option strike expiries and their related cash hedging flows can have more of an impact on FX price action this week, as many traders are side-lined before the U.S. jobs data. Broader implied volatility appears heavy, which reinforces that scenario, although setbacks will remain minimal for options that include the jobs data.
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Reuters - 6 days ago

Yuan rally hits speed bump as economy drags

Yuan rally hits speed bump as economy drags SINGAPORE, Sept 2 (Reuters) - The yuan slipped on Monday, taking a breather after six weeks of gains, as mixed economic data and the outlook for low short-term interest rates pushed it to the weak side of 7.1 per dollar. In morning trade the yuan CNY=CFXS slipped about 0.3% to 7.1112 per dollar. It had traded as strong as 7.0825 on Friday, its highest in more than a year, drawing state banks to buy dollars and slow the yuan's rise.
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Reuters - 1 week ago

China's yuan headed for best month in nine on higher corporate demand

China's yuan headed for best month in nine on higher corporate demand SHANGHAI, Aug 30 (Reuters) - The yuan firmed to a two-month high on Friday, heading for its biggest monthly jump since November 2023 as corporate demand for the Chinese currency grows amid heightening expectations for U.S. interest rate cuts. It strengthened to as much as 7.0895 per dollar in morning trade, having risen about 2% this month.
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Reuters - 1 week ago

China exporters' $500 billion stockpile could turbocharge rallying yuan, analysts say

China exporters' $500 billion stockpile could turbocharge rallying yuan, analysts say SHANGHAI, Aug 30 (Reuters) - Chinese exporters have amassed a U.S. dollar hoard estimated at about $500 billion, which could turbocharge the already rallying yuan if those businesses start buying the Chinese currency, analysts said. BY THE NUMBERS Non-financial corporate foreign exchange (FX) deposits hit $431.7 billion in July, according to central bank data, while a Barclays estimate derived from FX settlemen
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Reuters - 1 week ago

FX options wrap - FX eruption, EUR topside, short gamma, CNH alert

BUZZ-FX options wrap - FX eruption, EUR topside, short gamma, CNH alert Mild USD recovery/consolidation takes front-end expiry FX option implied volatility off its most recent highs. However, setbacks are proving limited amid the strong demand and high premiums attached to post NFP options - reflecting the importance of this event to the scale of the September 18 U.S.
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Reuters - 1 week ago

Nvidia 'beats' as expected, but fallout limited

MORNING BID AMERICAS-Nvidia 'beats' as expected, but fallout limited A look at the day ahead in U.S. and global markets from Mike Dolan After all that, Nvidia NVDA.O beat expectations - which has become "expected" - and the stock retreated about 5%. This is still August, after all. To be fair, the negative market reception to the artificial intelligence pacesetter's quarterly results overnight was typical of the reaction to other ostensible "beats" in the sector in this earnings season.
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Reuters - 1 week ago

EM stocks stutter with chipmakers down after Nvidia's results, FX steady

EMERGING MARKETS-EM stocks stutter with chipmakers down after Nvidia's results, FX steady South African rand firms ahead of PPI data Chinese yuan hits more than seven month high EM stocks down 0.3%, FX up 0.1% By Shashwat Chauhan Aug 29 (Reuters) - A gauge for emerging markets stocks slipped on Thursday as bourses with heavy chipmaker exposure fell after Nvidia's quarterly results failed to impress investors, while most currencies were muted ahead of economic data.
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Reuters - 1 week ago

FX options reveal crucial EUR/USD topside indicators

BUZZ-COMMENT-FX options reveal crucial EUR/USD topside indicators Aug 29 (Reuters) - Forward looking FX options thrive on FX volatility and rapid directional moves, so their price action can reflect the perceived outlook for a currency pair. There have been some changes in the EUR/USD outlook in regard to further gains. FX volatility is an unknown, yet key, part of an FX option premium, so implied volatility is used as a substitute.
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Reuters - 1 week ago

Yuan firms against dollar; eyes on US inflation and China PMI

Yuan firms against dollar; eyes on US inflation and China PMI SHANGHAI, Aug 29 (Reuters) - China's yuan firmed against the dollar on Thursday, after weakening for the prior three sessions, as traders await key data on U.S. inflation and Chinese manufacturing activity. The yuan has been trading in tight ranges so far this week, as the market's focus was mostly on dollar moves and the U.S.
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Reuters - 2 weeks ago

FX options wrap - Signs of fatigue before next major events

BUZZ-FX options wrap - Signs of fatigue before next major events Aug 28 (Reuters) - FX option implied volatility increased beside USD put premiums as the USD fell more broadly in mid-late August, but renewed supply now recognises the many stretched G10 FX positions and current spot consolidation. There's little to excite markets before next week's U.S.
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Reuters - 2 weeks ago

China's yuan softens again, further gains may be limited

China's yuan softens again, further gains may be limited By Summer Zhen HONG KONG, Aug 28 (Reuters) - China's yuan is poised for a third day of decline against the dollar on Wednesday, with analysts citing a risk-off mood ahead of U.S. data and economic challenges at home that could limit further gains. The U.S. dollar index .DXY edged firmer in early trade, while the foreign exchange market was subdued as traders awaited the U.S.
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Reuters - 2 weeks ago

Yuan slips from 3-week peak, tariffs dampen mood

Yuan slips from 3-week peak, tariffs dampen mood SINGAPORE, Aug 27 (Reuters) - China's yuan eased on Tuesday as a five-week winning streak on the dollar started to lose steam and traders bet on the currency settling into a new range until the economy improves. Late in the Asia morning it traded at 7.1277 per dollar CNY=CFXS , weaker than Monday's three-week top of 7.1135. In offshore trade CNH=D3 the yuan was at 7.1271. Industrial profit growth accelerated a little bit in July, official data sho
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