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☆ Morning Bid: Britain's CPI the next frontier
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

A tentative rally in gilts is poised to extend and sterling could probably say goodbye to the strong side of $1.30. Forecasts put Britain's annual CPI falling to 8.2% in June and core holding at 7.1%. New Zealand sounded a warning in the Asia session, with food prices keeping annual headline inflation higher than expected at 6%. Netflix (NFLX.O), Tesla (TSLA.O) and Goldman Sachs (GS.N) report results later in the day. Key developments that could influence markets on Wednesday:Data: British CPI, Euro zone final CPI, U.S. housing startsSpeakers: Bank of England's Dave RamsdenEarnings: Netflix, Tesla, Goldman SachsReporting by Tom Westbrook; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tom Westbrook, BoE, Goldman Sachs, Morgan Stanley, Bank of England's Dave Ramsden, Muralikumar Organizations: Bank of, Traders, U.S, Netflix, Microsoft, CPI, Bank of England's, Tesla, Thomson Locations: U.S, Canada, gilts, New Zealand, Asia

Versus the yen the dollar fell 0.28% to 138.36 yen per dollar, after touching its lowest against the Japanese currency in two months on Friday. ,"The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns continued to climb after making gains of more than 5% on the dollar last week. The Swedish crown rose 0.2% to 10.2360 against the dollar, the Norwegian crown rose instead 0.4% to 10.0160.

Persons: Francesco Pesole, Chris Weston, Carol Kong, Sharp, Joice Alves, Tom Westbrook, Angus MacSwan, Andrew Heavens Organizations: ING, Federal Reserve, Fed, European Central Bank, Pepperstone, U.S, New Zealand, Commonwealth Bank of Australia, dovish Bank of, Thomson Locations: SYDNEY, U.S, Germany, Europe, Melbourne, dovish Bank of Japan, Norwegian, London, Sydney

☆ Dollar licks wounds as policy peak looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1223. The yen , also up 2.4% last week, held at 138.56 per dollar. The Australian and New Zealand dollars pulled back slightly, with the Aussie last at $0.6821 - off last week's peak of $0.6895 - and the kiwi down 0.2% at $0.6355 after hitting a five-month high of $0.6412 on Friday. The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week, and have paused for breath. "By then other major central banks including the ECB will also likely have reached their peak policy rates ... interest rate dynamics may therefore swing back in favour of the dollar."

Persons: Carol Kong, Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes, Stephen Coates Organizations: SYDNEY, New Zealand, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Pepperstone, U.S, dovish Bank of Japan, ECB, Thomson Locations: Europe, Melbourne, Asia

☆ China rolls over medium-term policy loans, rate unchanged
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/SINGAPORE, July 17 (Reuters) - China's central bank rolled over maturing medium-term policy loans and kept the interest rate unchanged as expected on Monday, however markets expect authorities will need to unleash more stimulus to support slowing economic growth. The People's Bank of China (PBOC) said it was keeping the rate on 103 billion yuan ($14.43 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.65%. In a Reuters poll conducted last week, market participants predicted no change to the MLF rate. Traders and analysts said the rate decision was well expected after the central bank lowered key policy rates last month. With 100 billion yuan worth of MLF loans set to expire this month, the operation resulted a net 3 billion yuan fresh fund injection into the banking system.

Persons: Goldman Sachs, Winni Zhou, Tom Westbrook, Kim Coghill, Sam Holmes Organizations: People's Bank of China, Traders, Communist Party, Goldman, Thomson Locations: SHANGHAI, SINGAPORE, United States, China

☆ China central bank rolls over medium-term policy loans, rate unchanged
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI/SINGAPORE, July 17 (Reuters) - China's central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged on Monday, matching market expectations. The People's Bank of China (PBOC) said it was keeping the rate on 103 billion yuan ($14.43 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.65% from the previous operation. With 100 billion yuan worth of MLF loans set to expire this month, the operation resulted a net 3 billion yuan fresh fund injection into the banking system. The central bank also injected 33 billion yuan through seven-day reverse repos while keeping borrowing costs unchanged at 1.90%, it said in an online statement. China's central bank lowered key policy rates in June to prop up the cooling economy.

Persons: Winni Zhou, Tom Westbrook, Kim Coghill Organizations: People's Bank of China, Thomson Locations: SHANGHAI, SINGAPORE

☆ Dollar licks wounds as China data looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1228. The yen , also up 2.4% last week, held at 138.69 per dollar. "The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week.

Persons: Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes Organizations: SYDNEY, Federal Reserve, European Central Bank, Pepperstone, U.S, New Zealand, dovish Bank of Japan, ECB, Thomson Locations: U.S, Europe, Melbourne, Asia

Second-biggest token Ether had its best session since March and Ripple , which a U.S. judge ruled could be legally sold on public crypto exchanges, soared 73%. "The regulatory environment is changing," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. He said further cases would probably shed more light on how courts will treat private crypto offerings. The world's biggest asset manager, BlackRock (BLK.N), filed to launch a bitcoin exchange traded fund last month and earlier in July exchange operator Cboe (CBOE.Z) refreshed its filing for a similar fund to be run by asset manager Fidelity. "For the first time in a while, it's been consistently positive news coming though and that means you've got momentum."

Persons: Bitcoin, Matthew Dibb, Justin d'Anethan, Greg Moritz, FTX, Sam Bankman, Alex Mashinsky, We'd, Chris Weston, it's, Vidya Ranganathan, Simon Cameron, Moore Organizations: Capital, BlackRock, Fidelity, Investors, Solana, Commodity Futures, Commission, Tab, Traders, U.S, SEC, Thomson Locations: SINGAPORE, U.S, Asia, Keyrock, Hong Kong, reining, China, noncomplicance, Melbourne, Singapore

☆ Singapore dodges recession after slight growth in Q2
▼ + stars: | 2023-07-14 | by ( Chen Lin | ) www.reuters.com time to read: +3 min

Four economists with quarterly estimates had forecast growth of 0.3% in a Reuters poll. She said that while Singapore had escaped a technical recession for now, there was a possibility that final GDP figures for the second quarter could be revised lower due to recent signs of softening growth in China. On an annual basis, the economy expanded 0.7% in the second quarter, data from the Ministry of Trade and Industry showed. That compared with 0.4% growth in the prior quarter and a 0.6% expansion forecast in a Reuters poll. The ministry has projected GDP growth of 0.5% to 2.5% for this year down from 3.6% in 2022.

Persons: Selena Ling, Brian Tan, Tan, Chen Lin, Tom Westbrook, Martin Petty, Jacqueline Wong Organizations: SINGAPORE, Ministry of Trade, Industry, Barclays, Capital Economics, Singapore, U.S ., Monetary Authority of, Thomson Locations: Singapore, China, Monetary Authority of Singapore

A U.S. judge said on Thursday that Ripple Labs Inc did not violate securities law by selling its XRP token on public exchanges. Although the decision was specific to the individual case, it unleashed a wave of optimism among crypto investors that more cryptocurrencies may also not be deemed securities. Still, the enthusiasm for some was tempered by a report from the Wall Street Journal that Binance, the world's largest cryptocurrency exchange, has laid off more than 1,000 people in recent weeks. "The regulatory environment is changing," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. Still, crypto investors have taken encouragement from the world's biggest asset manager, BlackRock (BLK.N), filing to launch a bitcoin exchange traded fund last month.

Persons: XRP, Coinbase, Bitcoin, Matthew Dibb, Justin d'Anethan, Binance.US, bode, Sam Bankman, Alex Mashinsky, Patrick Hillmann, Hillmann, We'd, Chris Weston, it's, Vidya Ranganathan, Simon Cameron, Moore, Alex Richardson, Josie Kao Organizations: Labs, U.S . Securities, Exchange Commission, Wall Street, Capital, SEC, U.S, Wall, Twitter, BlackRock, Fidelity, Thomson Locations: SINGAPORE, WASHINGTON, U.S, California , New Jersey, South Carolina, Wisconsin, Asia, Keyrock, Hong Kong, XRP, reining, China, Binance, Melbourne, Singapore

Only 13 senators backed 42-year-old Pita, with the rest voting against him or abstaining, which his party said indicated some were acting under duress. "There are forces from the old power to pressure the Senate - from the old power to some capitalists who do not want to see a Move Forward government," party secretary general Chaithawat Tulathon said in a television interview. "Since the senators were uncomfortable in electing the PM, why not switch off this power?" he said, adding the party would attempt to limit the Senate's powers by amending an article of the constitution, which could take a month. He can run again if nominated in the next vote, which takes place on July 19, the house speaker confirmed.

Persons: Pita Limjaroenrat, Chaithawat Tulathon, Pita, Vijay Vikram Kannan, Juarawee, Rae Wee, Tom Westbrook, Martin Petty Organizations: Senate, Harvard, Constitutional Court, Senators, Societe Generale, Thomson Locations: BANGKOK, Pita, Thailand, Asia, Singapore, Bangkok

☆ Dollar deepens dive on inflation surprise
▼ + stars: | 2023-07-13 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The euro made a fresh 15-month high of $1.1148 in Asia on Thursday and the yen touched its strongest since mid-May at 138.08 per dollar. U.S. core inflation came in at 0.2% in June against market expectations for 0.3%. Moves in other currencies were smaller but still delivered new milestones as traders reckon the dollar has further to drop. The Swiss franc hit its strongest since 2015 at 0.8655 to the dollar and sterling a 15-month top of $1.3019. Amongst the dollar selling, one outlier was perhaps the yen which has led gains.

Persons: Imre Speizer, Malaysia's, Pita Limjaroenrat, Steve Englander, Kazuo, Ueda, Chang Wei Liang, Tom Westbrook, Jamie Freed, Kim Coghill Organizations: month's, U.S, Westpac, New Zealand, Swiss, Standard Chartered, Bank of Japan, Fed, Central Bank, Thomson Locations: SINGAPORE, Asia, Scandinavia

July 13 (Reuters) - Qingdao city in China's debt-laden Shandong province has set up a company to bail out its cash-strapped local government financing vehicles (LGFVs), sources said, as regional governments rush to reduce debt risks in a wobbly economy. The government of Qingdao and the China Development Bank did not reply to Reuters' requests for comment. While no LGFV in China has defaulted in the public markets, cases of delinquencies in the private debt market are increasing, worrying Beijing. Tianjin LGFV bonds yield more than 514 bps over government bonds, compared with 200 bps for Shandong bonds, reflecting the elevated risks. Fund manager Zhou said although he is bullish on LGFV bonds, "the first priority is to be absolutely diversified in investment.

Persons: Qingdao's, Xi Jinping, LGFVs, Goldman Sachs, Zhai Jianye, Zhai, It's, Zhou Tingzuo, Ning Yong, Zhou, Samuel Shen, Jason Xue, Tom Westbrook, Vidya Ranganathan Organizations: Dongdin Industrial Group, China Development Bank, Southwest Securities, Agricultural Bank of China, China Construction Bank, Commercial Bank of China, SS, Shoupu Fund Management Co, Ning Yong Fu Fund Management, Thomson Locations: Qingdao, China's, Shandong, China, Shandong LGFVs, Beijing, Big, Jinan, Weifang, Liaoning, Hunan, Shanghai, Tianjin, Singapore

☆ Dollar takes a beating as traders see US rates peaking
▼ + stars: | 2023-07-13 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The dollar had its worst session in five months overnight, falling more than 1% against the euro to its lowest in more than a year and notching even larger losses elsewhere. The New Zealand dollar reached a two-month high of $0.6309 and the Aussie a three-week peak of $0.6796. The moves were small, yet showed traders' faith the dollar has further to fall. Sterling sat at $1.2994, just below its overnight high of $1.3001. The Swiss franc , which hit its highest since 2015 overnight, traded just below that level at 0.8661 francs to the dollar.

Persons: Steve Englander, Sterling, Tom Westbrook, Jamie Freed Organizations: month's, U.S, New Zealand, Sterling, Swiss, Standard Chartered, Swedish, Bank of Japan, Central Bank, Thomson Locations: SINGAPORE, Asia, Scandinavia

☆ Morning Bid: As yields and the yen go, so goes the dollar
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

Traders in Asia nudged both yields and the dollar a whisker lower on Tuesday, with an eye on Wednesday's U.S. inflation data. Two-year and ten-year Treasury yields are back below 5% and 4%, respectively. The yen is in the driver's seat in foreign exchange markets, as investors pull back on high-yielding bets in emerging markets that have been funded by cheaply borrowed yen. Such trades are placed by selling yen for dollars and then dollars for emerging-market currencies such as the peso or the real, so reversing them requires selling dollars for yen. The yen has risen to the strong side of 141 per dollar for the first time in three weeks.

Persons: Tom Westbrook, Janet Yellen's, Edmund Klamann Organizations: Traders, ., HK, Ant Group, Treasury, Thomson Locations: Asia, U.S, Beijing, Hong Kong

☆ China mutual funds cut fees as regulator targets $3.7 trillion sector
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +4 min

The cuts, which the fund companies said in identical phrasing were "aimed at reducing investors' costs in managing their wealth", come after China's securities regulator on Saturday vowed to guide mutual fund fees lower. Fund management fees would be capped at 1.2% of assets and custodian fees at 0.2%, state media reported. Nevertheless, the industry collected 144.1 billion yuan in management fees in 2022, up 1.7% from a year earlier, according to TX Investment Consulting Co. FEE CUTFullGoal Fund Management Co said it would cut fees on 119 products starting Monday, while Harvest Fund Management announced cuts for 113 products. The CSRC published opinions in April last year to promote high-quality growth of the mutual fund industry.

Persons: Morningstar, Ivan Shi, China's, Warburg Pincus, Samuel Shen, Tom Westbrook, Selena Li, Muralikumar Anantharaman, Jamie Freed Organizations: China Asset Management Co, Bank of Communications Schroder Fund Management, China Securities Regulatory Commission, Ben Advisors, Investment Consulting Co, Management, Harvest Fund Management, Asset Management Co, Ou Asset Management Co, Warburg, Shanghai Securities News, Thomson Locations: SHANGHAI, SINGAPORE, China, United States, Shanghai, China's

☆ Global stocks index flat, Dollar falls on mixed U.S. jobs data
▼ + stars: | 2023-07-07 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

Still, the unemployment rate fell to 3.6% in June from 3.7% in May and average hourly earnings rose 0.4%, the same as May. On Thursday, private payroll provider ADP's strong U.S. labor market data had sparked an equities sell-off and boosted Treasury yields. While Friday's government data was initially met with a more muted market reaction, stocks gained some ground during the session before losing ground again in afternoon trading. The dollar slumped after the labor market data as some traders were betting that the Fed could cut rates sooner than previously expected. The dollar index fell 0.795%, with the euro up 0.73% to $1.0965.

Persons: Mike Segar, nonfarm payrolls, Quincy Krosby, payrolls, Sam Stovall, Stovall, Sterling, Brent, Sinéad Carew, Caroline Valetkevitch, Nell Mackenzie, Naomi Rovnick, Tom Westbrook, Andrew Heavens, David Holmes, Will Dunham, David Evans Organizations: Wall, New York Stock Exchange, REUTERS, Federal, U.S, CFRA Research, Dow Jones, Nasdaq, Fed, Treasury, Thomson Locations: Manhattan, New York City , New York, U.S, Charlotte , North Carolina, New York, London, Sydney

☆ Bonds whipsaw, world stocks barely higher after mixed U.S. jobs data
▼ + stars: | 2023-07-07 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

On Thursday, private payroll provider ADP's strong U.S. labour market data had sent equities lower and boosted Treasury yields. But Friday's government data prompted a more muted market reaction and barely changed expectations for the Federal Reserve's rate hiking cycle. The pan-European STOXX 600 index (.STOXX) rose 0.11% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.16%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.71% lower, while Japan's Nikkei (.N225) lost 1.17%. In commodities, oil prices were higher even as U.S. jobs data did little to allay fears of further interest rate hikes.

Persons: Mike Segar, nonfarm payrolls, Peter Cardillo, Brent, Sinéad Carew, Caroline Valetkevitch, Nell Mackenzie, Naomi Rovnick, Tom Westbrook, Andrew Heavens, David Holmes, David Evans Organizations: Wall, New York Stock Exchange, REUTERS, U.S, Federal, Spartan Capital Securities, Fed, Traders, Treasury, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: Manhattan, New York City , New York, U.S, Asia, Pacific, Japan, New York, London, Sydney

☆ Buckling bond market casts pall over stocks
▼ + stars: | 2023-07-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Overnight, surprisingly strong partial figures on the U.S. labour market sent a selloff in bond markets into overdrive and pushed the S&P 500 stock index (.SPX) 0.8% lower. Three-year and ten-year Australian government bond yields each rose a dozen basis points on Thursday and a dozen more on Friday morning to hit decade highs. Maybe there has to be some reassessment given the resilience of a lot of economies to higher rates so far." Even well-anchored Japanese government bond yields rose on Friday. Gold , which pays no income, was under pressure from higher yields while trading flat at $1,911 an ounce.

Persons: Jack Chambers, payrolls, Goldman Sachs, HSI, Tom Westbrook, Edmund Klamann Organizations: Japan's Nikkei, Federal Reserve, ANZ, stoke, Private U.S, ADP, U.S, Reserve Bank, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Britain, Sydney, U.S, Hong Kong, South Korea, Australia

☆ Morning Bid: Battered bond market braces for payrolls
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

A look at the day ahead in European and global markets from Tom WestbrookBond markets are in a world of pain, with yields catapulted to decade highs across developed markets. Non-farm U.S. payrolls due at 1230 GMT will present another conundrum that's unlikely to end well for bonds. Or is it bad news because it implies higher interest rates? The twin concerns - higher rates and slowing Chinese growth - seem to have finally put the brakes on stocks. Key developments that could influence markets on Friday:U.S. non-farm payrollsReporting by Tom Westbrook; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Tom Westbrook, Treasuries, Goldman Sachs, Edmund Klamann Organizations: Dealers, Securities Times, Thomson Locations: U.S, Asia, China's

☆ Chinese rush to buy Hong Kong insurance, dollars as confidence cracks, yuan weakens
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, July 6 (Reuters) - Chinese investors are rushing offshore to make dollar deposits and buy Hong Kong insurance in a signal domestic confidence is languishing and that the ailing yuan faces more pressure. New premiums collected on Hong Kong insurance policies leapt a staggering 2,686% to $9.6 billion in the first quarter of 2023. "The burst of insurance buying in Hong Kong reflects a gloomy domestic outlook, and worries about an uncertain future." "Offshore demand for policies denominated in Hong Kong dollars is low – U.S. dollar-denominated policies are more prevalent, to provide access to global asset allocation," said Lawrence Lam, chief executive officer at Prudential Hong Kong. The wealth manager at Noah fears that a sustained rush into Hong Kong insurance risks inviting Beijing's policy tightening.

Persons: Helen Zhao, lurch, Noah Holdings, Lawrence Lam, Hao Hong, Tan Xiaofen, We've, Sami Abouzahr, Samuel Shen, Winni Zhou, Georgina Lee, Summer Zhen, Tom Westbrook, Kim Coghill Organizations: Hong, AIA, HK, Prudential, Manulife, Noah Holdings, Savings, Bank of China, U.S, Prudential Hong Kong, Investment, School of Economics, Management, Beihang University, HSBC, Thomson Locations: SHANGHAI, HONG KONG, Hong Kong, Macau, COVID, U.S, Beijing

☆ Chinese companies rush for hedging as market volatilities spike
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, July 5 (Reuters) - Chinese listed firms are embracing hedging at a record pace, according to consultancy data, as market volatility rises and China grows its derivative market. Forex hedging is popular among Chinese companies, according to D-Union, as regulators allow market forces to play a bigger role in deciding the yuan's value. Companies including Semiconductor Manufacturing Electronics (Shaoxing) Corp (688469.SS) and liquor giant Luzhou Laojiao Co Ltd (000568.SZ) announced plans in the second quarter to hedge against forex risks. Measures to develop China's derivative market also boosted interest in hedging, Ma said. Electronics, basic chemicals, and electrical equipment were among sectors that were most active in hedging during the second quarter, according to D-Union data.

Persons: Ma Weifeng, Ma, Li Gu, Samuel Shen, Tom Westbrook, Gerry Doyle Organizations: greenback, Semiconductor Manufacturing Electronics, Electronics, Sieyuan Electric Co Ltd, Thomson Locations: SHANGHAI, China, Shanghai, Shenzhen, Singapore

☆ Factbox: Policy measures China's central bank could use to stem yuan weakness
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

** DAILY MIDPOINT SETTINGThe onshore spot yuan can trade in a 2% range around the midpoint set by the PBOC in the daily fix. Weeks later, sources told Reuters that a self-regulatory body overseen by the central bank had told major state-owned banks to lower dollar deposit interest rates and bolster the yuan. It last cut the foreign exchange reserve requirement ratio for financial institutions to 6% from 8% in September 2022 to slow yuan depreciation. ** TIGHTER OFFSHORE YUAN LIQUIDITYTo reduce yuan liquidity offshore, the PBOC issued more yuan-denominated bills in Hong Kong. While the amounts were small, analysts said they sent a clear message guiding expectations for the yuan exchange rate.

Persons: PBOC, Weeks, Winni Zhou, Tom Westbrook, Robert Birsel Organizations: People's Bank of China, Reuters, Thomson Locations: China, State, Hong Kong

☆ China starts to slow yuan's one-way slide
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +4 min

Analysts said that together the moves showed official unease at the yuan's downward momentum and that they could slow but perhaps not halt a decline, given the dour economic outlook. "They are sending more signals now they're uncomfortable ... they would like to slow the yuan weakness," said Moh Siong Sim, a currency strategist at Bank of Singapore. The yuan ended Monday at a seven-month low of 7.2425 per dollar and was at 7.2105 in Tuesday afternoon trade. BACK FOOTThe push back comes as investors sour on China, with data showing China's vaunted rebound faltering. Analysts said moves to halt the yuan's slide were not yet as firm as last year, when regulators rolled out measures to encourage capital inflows, but might be enough to slow selling.

Persons: Yuan, Siong Sim, Stocks, Alvin Tan, We've, Rob Carnell, Carnell, That's, Ankur Banerjee, Tom Westbrook, Rae Wee, Vidya Ranganathan, Kim Coghill, Jacqueline Wong Organizations: People's Bank of China, Analysts, Bank of Singapore, UBS, Australian, Asia FX, RBC Capital Markets, Beijing, Thomson Locations: SHANGHAI, BEIJING, China, Hong Kong, Asia, Shanghai, Singapore

☆ Morning Bid: Markets take mutiny in their stride, for now
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

Mercenaries from the Wagner group were returning to their bases after a deal ended Saturday's mutinous advance on Moscow. Oil moved up as the instability could mean challenges for exporting Russian crude, but moves were only modest. Talk was also that the insurrection in Russian ranks opened an opportunity for Ukraine to press its advantage in battle. The yuan and Chinese stocks slid, catching up with global moves while China was on holiday on Thursday and Friday. Later on Monday Germany's Ifo business survey is due and is expected to show business morale and expectations further souring.

Persons: Westbrook, Wagner, Oil, Vladimir Putin's, toughened, Tom Westbrook, Muralikumar Organizations: Westbrook Investors, Bank of Japan, Reuters Graphics Reuters, CBI, Thomson Locations: Asia, Russia, Moscow, Ukraine, U.S, Japan, China

☆ Oil up, stocks dip after short-lived Russian mutiny
▼ + stars: | 2023-06-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, June 26 (Reuters) - Oil nudged higher in early trade on Monday as an abortive weekend mutiny by Russian mercenaries raised questions about crude supply, though other financial markets started steadily with investors unsure of any further immediate implications. Russian mercenaries made a short-lived rebellion on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine. The private Wagner army then withdrew after striking a deal guaranteeing their safety and the exile of their leader, Yevgeny Prigozhin, to Belarus. The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership. "As such, we are likely to see a marginal uptick in oil prices in the coming days, if the situation does not deteriorate."

Persons: Wagner, Yevgeny Prigozhin, Vladimir Putin's, Jorge Leon, Antony Blinken, Ray Attrill, Masato Kanda, Stephen Coates Organizations: Brent, Rystad Energy, National Australia Bank, Thomson Locations: SINGAPORE, Rostov, Moscow, Ukraine, Belarus, Russia, Sydney, Asia, China, steadied

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