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Market Trends

Market Trends

Information and commentary from Hong Kong on the current market and future prospects regarding wildly fluctuating RMB exchange rates, interest rates and stocks.

Offshore RMB Market Report

Comments on offshore RMB exchange rates, interest rates and stocks from the Hong Kong Treasury Division.

Dec 3, 2018 Offshore RMB Market Report[CNH jumped to 6.90 as China and US agreed to hold off tariffs escalation](PDF/441KB)

Nov 19, 2018 Offshore RMB Market Report[CNH stabilized as China–US trade talks remain on track](PDF/420KB)

Nov 12, 2018 Offshore RMB Market Report[CNH fell back after the US mid–term election](PDF/405KB)

Nov 5, 2018 Offshore RMB Market Report[CNH reversed its loss on the unexpected phone call between Trump and Xi](PDF/419KB)

Oct 29, 2018 Offshore RMB Market Report[CNH slid as much as to its 22–month low of 6.9769](PDF/353KB)

Oct 22, 2018 Offshore RMB Market Report[CNH weakens to 2–month low of near 6.94 level;CNH bears test PBoC's tolerance for RMB depreciation](PDF/418KB)

Oct 15, 2018 Offshore RMB Market Report[CNH weakened to above 6.9 on surging UST yields and risk of currency manipulator label](PDF/339KB)

Oct 8, 2018 Offshore RMB Market Report[CNH edged down to 6.9 handle on surging UST yields](PDF/400KB)

Oct 2, 2018 Offshore RMB Market Report[CNH lost ground to near 6.88 after Fed's rate hike](PDF/340KB)

Sep 17, 2018 Offshore RMB Market Report[CNH reversed its loss on optimism over China–US trade talk](PDF/334KB)

Sep 11, 2018 Offshore RMB Market Report[CNH held steady despite the threat of US tariff expansion](PDF/394KB)

Sep 3, 2018 Offshore RMB Market Report[CNH fell as China–US trade tensions intensified](PDF/333KB)

Aug 27, 2018 Offshore RMB Market Report[CNH reversed its loss as PBoC resumed counter cyclical factor in CNY fixing](PDF/423KB)

Aug 20, 2018 Offshore RMB Market Report[Hopes for China–US trade talk and CNH liquidity squeeze supported RMB sentiment](PDF/407KB)

Aug 13, 2018 Offshore RMB Market Report[RMB turned more resilient to trade war headlines](PDF/394KB)

Aug 6, 2018 Offshore RMB Market Report[PBoC took action to support RMB](PDF/335KB)

Jul 30, 2018 Offshore RMB Market Report[RMB sentiment stabilized as China pledged more proactive fiscal policy](PDF/400KB)

Jul 23, 2018 Offshore RMB Market Report[CNH plummeted to 6.83 as PBoC tolerated RMB weakness](PDF/392KB)

Jul 16, 2018 Offshore RMB Market Report[CNY tested 6.7 again after Trump pushed forward new tariff](PDF/392KB)

Jul 9, 2018 Offshore RMB Market Report[RMB turmoil paused as PBoC pledged to support RMB stability](PDF/396KB)

Jun 25, 2018 Offshore RMB Market Report[Fears of trade war heavily weighed on RMB](PDF/400KB)

Jun 19, 2018 Offshore RMB Market Report[RMB sentiment soured as China data weakened across the board](PDF/398KB)

Jun 11, 2018 Offshore RMB Market Report[CNH stabilized from softer USD and improving sentiment](PDF/388KB)

Jun 5, 2018 Offshore RMB Market Report[Risk–off sentiment from Eurozone woe weighed on the CNH](PDF/390KB)

May 28, 2018 Offshore RMB Market Report[China and US averted trade war but tension is set to linger](PDF/333KB)

May 21, 2018 Offshore RMB Market Report[China–US trade tensions to take a backseat, CNH supportive](PDF/413KB)

May 14, 2018 Offshore RMB Market Report[CNH rebounded as USD consolidated](PDF/399KB)

May 7, 2018 Offshore RMB Market Report[The suspected return of RMB weakening bias weighed on CNH](PDF/398KB)

Apr 30, 2018 Offshore RMB Market Report[Strong USD rebound left the CNH under pressure](PDF/387KB)

Apr 23, 2018 Offshore RMB Market Report[CNH ranged bounded as Q1 GDP stabilized at 6.8%YoY](PDF/336KB)

Apr 16, 2018 Offshore RMB Market Report[CNH rebounded as market took relief on trade war risk](PDF/401KB)

Apr 9, 2018 Offshore RMB Market Report[CNH fell back to near 6.31 amid escalating China–US trade tensions](PDF/338KB)

Apr 3, 2018 Offshore RMB Market Report[CNH pulled back after hitting 6.23 level](PDF/382KB)