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Search resuls for: "China Foreign Exchange Trade System"


6 mentions found


☆ How hedge funds view the fate of king dollar
  + stars: | 2023-11-30 | by ( Nell Mackenzie Carolina Mandl | Nell Mackenzie | Carolina Mandl | ) www.reuters.com   time to read: +6 min
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON/NEW YORK, Nov 30 (Reuters) - After making hay when a summer bond rout propelled the U.S. dollar to 10-month highs, hedge funds are now pondering what lies ahead for the greenback. Five funds shared their views on the fate of the dollar. This does not represent recommendations or trading positions, which some hedge funds cannot reveal for regulatory reasons. He expects the U.S. economy to slow sharply which, alongside falling inflation, will likely hurt the dollar against some emerging market currencies. The Brazilian real, trading at 4.8908 per dollar , is up roughly 8% so far this year against the dollar.
Persons: Dado Ruvic, Jonathan Fader, Fader, Doug Greenig, Florin Court's, Greenig, Tara Hariharan, Hariharan, NWI, Carlos Calabresi, Michael Sager, Sager, Nell Mackenzie, Carolina Mandl, Dhara Ranasinghe, Kirsten Donovan Organizations: REUTERS, U.S, greenback, Swiss, Reuters, FLORIN, China Foreign Exchange Trade, Long, Garde, CIBC, Thomson Locations: U.S, American, Brazil, Colombia, Hungary, Poland, China, Asia, Brazilian, London, Carolina, New York
☆ Exclusive: China's clashing priorities behind rare money market distress
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +7 min
"Banks were grudging in lending, leaving non-banks asking each other for money in afternoon trade," he said. The reasons for the spike in interest rates and the ensuing market chaos are detailed here for the first time. They affect foreign exchange movements since the markets are the major avenue for the supply of money. The money market operator CFETS told traders to keep a 5% ceiling on repo transactions and said anyone involved in high-rate deals closed on Oct. 31 would need to explain themselves to regulators, according to sources who received the notice. "If the pattern of money supply and liquidity provision remains unchanged, the whole system remains fragile.
Persons: Xia Chun, Banks, outflows, CFETS, Tom Westbrook, Vidya Ranganathan, Raju Gopalakrishnan Organizations: People's Bank of China, China Foreign Exchange Trade, Yintech Investment Holdings, Reuters, China Everbright Bank, Co, China Central Depository, Shanghai Clearing House, Shanghai, Thomson Locations: SHANGHAI, SINGAPORE, Beijing, Shanghai, China
☆ China publishes rules to boost data security in money brokering
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI, Aug 30 (Reuters) - China published rules on Wednesday aimed at boosting data security in the money brokering industry, five months after a disruption in data services caused two days of chaos in the country's $21 trillion bond market. Five financial watchdogs, including the central bank as well as forex and securities regulators, urged interdealer brokers to improve data and risk management, and safeguard data security. Interdealer brokers, when offering data services, "must not endanger national security, financial safety and public interest," the regulators said in a joint statement. Chinese regulators in March suspended the data feed business of money brokers, citing data security concerns, triggering a slump in bond trading turnover as many traders lost immediate access to real-time data. China has in recent years grown more concerned over data security and rolled out new laws and compliance requirements for companies.
Persons: LSEG, Tullett, Jacqueline Wong, Muralikumar Anantharaman, Mark Potter Organizations: China Foreign Exchange Trade System, Shanghai Stock Exchange, Information Co, Refinitiv Information Services, Co, Bloomberg L.P, Thomson Reuters, London Stock Exchange, Reuters, NEX International, Partners, Central, Financiere, National Administration of Financial, Cyberspace Administration, Shanghai, Thomson Locations: SHANGHAI, China, LSEG ., Central Tanshi
☆ Explainer: What's behind the firmer-than-expected yuan fixings?
  + stars: | 2023-07-05 | by ( Georgina Lee | ) www.reuters.com   time to read: +3 min
The yuan is not a fully-convertible currency and its onshore exchange rate is a managed floating rate. The midpoint is calculated by the China Foreign Exchange Trade System (CFETS), a unit overseen by the People's Bank of China prior to the onshore market opening at 09:30 a.m. (0130 GMT)HOW IS IT CALCULATED? It allows market-makers to discount the closing price, where it's deemed out of step with their expectations. WHY IS THE CCF SEEN AS A MOVE TO DEFEND THE YUAN? The CCF was abandoned in 2020 when the yuan rose sharply and authorities decided to let market forces play more of a role.
Persons: it's, Georgina Lee, Shri Navaratnam Organizations: China Foreign Exchange Trade, People's Bank of, Reuters, CCF, HSBC, Thomson Locations: HONG KONG, People's Bank of China
☆ China's yuan has fallen to the lowest rate since 2014 by one measure, and Beijing is OK with that for now, FX strategist says
  + stars: | 2023-06-14 | by ( Jason Ma | ) www.businessinsider.com   time to read: +2 min
China's yuan is at the lowest since 2022 by traditional metrics as economic growth has disappointed. But one measure of its real effective rate puts the currency at the lowest since 2014. "So valuation-wise, renminbi is starting to look cheap," a Macquarie foreign exchange strategist said. However, expectations of economic stimulus from Beijing could lift the yuan, Trang added. That's due in part to relatively low volatility in currency markets and the yuan's gradual slope downward, she said.
Persons: renminbi, —, Trang Organizations: Macquarie, Service, China Foreign Exchange Trade, People's Bank of China, Bank of International, Macquarie Group, Bloomberg, Federal Reserve, greenback Locations: Beijing, China
☆ China regulators plan new bond market rules, will coordinate more after turmoil, sources say
  + stars: | 2023-04-20 | by ( ) www.cnbc.com   time to read: +3 min
"After the chaos, coordination between bodies will be strengthened," one of the regulatory sources said. Turnover in the market — the world's second-largest bond market with $21 trillion in notes outstanding — slid and traders said they had to scramble to chat groups for quotes. In contrast to the pre-ban market, Tullet Prebon's data is now available on all other bond market information platforms including Wind, Dealing Matrix and government-affiliated iDeal. China's interbank bond market operator also said on March 20 that iDeal now offers price data from six interdealer brokers. The strength of the market's reaction to the data ban had surprised authorities, according to one of the regulatory sources.
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