Discover and read the best of Twitter Threads about #CNY
Most recents (11)
1/15: I was recently called a “China Macro Tourist”, so I decided to do the following and give a chance to everyone to find out about China’s Macro reality for themselves.
Since the best way of learning is by doing, I will set a few questions so that everyone who doubts to find… twitter.com/i/web/status/1…
Since the best way of learning is by doing, I will set a few questions so that everyone who doubts to find… twitter.com/i/web/status/1…
2/15 a: We start from the GDP: China’s GDP is an input number and not an output figure like in Western economies. National accounts are based on data collected by local governments, which are rewarded for meeting growth targets; hence, local governments are incentivised to skew… twitter.com/i/web/status/1…
2/15 b: The Brookings Institution, in a research paper published in March 2019, estimated that China's GDP growth from 2008-2016 could be 1.7% (annually) lower than publicly acknowledged. I am confident China did not stop there. What happens if China’s GDP is 20% lower than most… twitter.com/i/web/status/1…
Le sanzioni statunitensi su Riyadh🇸🇦 significherebbero che Washington🇺🇸 si sta accoltellando
#OPEC+ #OPEC #OOTT
Un articolo del 2018, ancora attuale, emblematico del sentimento delineatosi in Arabia Saudita e le recenti ripercussioni nelle relazioni bilaterali.
Thread 🧵
#OPEC+ #OPEC #OOTT
Un articolo del 2018, ancora attuale, emblematico del sentimento delineatosi in Arabia Saudita e le recenti ripercussioni nelle relazioni bilaterali.
Thread 🧵
- grazie a @steal61 per il prezioso contributo ⬇️
2/. “Se le sanzioni statunitensi saranno imposte all'Arabia Saudita, ci troveremo di fronte a un disastro economico che scuoterebbe il mondo intero.”
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#FX Should #INR be compared to the #EURO, #JPY and #GBP ?
Thanks for asking your question…
Common #Narrative that #INR has done well when compared to the #JPY, #GBP and #EURO. It’s a Entirely FLAWED Argument and many Global Macro guys must be laughing at our TV Experts.
WHY?
Thanks for asking your question…
Common #Narrative that #INR has done well when compared to the #JPY, #GBP and #EURO. It’s a Entirely FLAWED Argument and many Global Macro guys must be laughing at our TV Experts.
WHY?
Let’s look at JPY. This country runs a large current account/trade surplus. Yet it’s currency depreciates ? Why. COZ the central banks wants INFLATION. And it doing YCC at 0.25%. It will continue to do YCC (Print JPY) until inflation hits a respectable amount. But Japan is
Growing old. And Old Economies don’t witness inflation. Coz Old people don’t consumer new cars, consumer durables or new houses… so commodity demand falls and inflation falls. So to drive inflation, they print money. So the JPY depreciates vs it’s natural tendency to Appreciate
La spinta globale verso la de-dollarizzazione iniziata nel 2021 continua a prendere piede
Il vasto potenziale di internazionalizzazione dello yuan #CNY , probabilmente la valuta non occidentale più popolare tra i paesi in via di sviluppo.
- thread 🧵
Il vasto potenziale di internazionalizzazione dello yuan #CNY , probabilmente la valuta non occidentale più popolare tra i paesi in via di sviluppo.
- thread 🧵
2/. L'ultimo esempio della crescita dello yuan all'estero è l'emissione di 4 miliardi di yuan (590 milioni di dollari) di obbligazioni denominate in yuan nel mercato russo da parte di Rusal 🇷🇺, società leader nella produzione di alluminio.
rusal.ru/en/press-cente…
rusal.ru/en/press-cente…
3/. Gli analisti del sottoscrittore Gazprombank hanno previsto che più società russe seguiranno l'esempio e lo yuan sarà sempre più popolare in Russia a causa delle sanzioni occidentali “guidate” dagli Stati Uniti.
wsj.com/livecoverage/s…
wsj.com/livecoverage/s…
La borsa di Mosca #MOEX ha iniziato a negoziare obbligazioni con scambi regolati in Yuan #CNY
(segue)
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Il mondo multipolare emergente include i mercati dei cambi - poiché Cina e Russia, i maggiori sfidanti della supremazia degli Stati Uniti, aumentano il commercio diretto tra le loro valute.
I volumi mensili sulla coppia rublo-yuan sono aumentati dell'1.067% a quasi 4 miliardi di dollari dall'inizio della guerra in Ucraina mentre le due nazioni cercano di ridurre la loro dipendenza dal dollaro e aumentare il commercio bilaterale
#USDCNH dropped ~250pip 6.4100 to 6.3850 yday on prospect of Saudi Arabia SA receiving oil payment from China in #CNY instead of #USD
▪️ Pricing Ccy is different from Invoice/Settlement Ccy - SA can receive CNY but oil may still be priced in $$
1/5
wsj.com/articles/saudi…
▪️ Pricing Ccy is different from Invoice/Settlement Ccy - SA can receive CNY but oil may still be priced in $$
1/5
wsj.com/articles/saudi…
▪️ China oil imports from SA ~$45bn pa, ~1.75 mbpd
▪️ What can SA do with CNY received
1. Pay in CNY for Chinese imports/services
2. Diversify FX Reserves into CNY away from USD
2a. Invest back into China onshore say CGBs
+ve for CNY internationalization
[SAMA FXReserves $420bn]
▪️ What can SA do with CNY received
1. Pay in CNY for Chinese imports/services
2. Diversify FX Reserves into CNY away from USD
2a. Invest back into China onshore say CGBs
+ve for CNY internationalization
[SAMA FXReserves $420bn]
#China stocks roar on, with #CSI300 up ~20% in little more than a week as (official) #margin debt climbs Y150bln to touch Y1.3 trillion - levels only seen in the peak months of 2015's madness.
Worth noting a rejection here could mean the Jan'19 formation is complete.
#SHFE #SHSZ
Worth noting a rejection here could mean the Jan'19 formation is complete.
#SHFE #SHSZ
#Myanmar has so far not reported any cases of #coronarvirus but it has stepped up its health screening at airports & asking arriving passengers to declare health status (Pics not mine. From FB). #SoutheastAsian nations like #Thailand #Singapore #Vietnam already reporting cases
So far, #Thailand has reported 8 known #coronarvirus cases. 5 have already been treated & discharged. #Thai #health ministry has put out educational materials to inform/warn people. But some citizens feel government not doing enough/slow to respond to this fast-moving situation
#Malaysia has temporarily suspended issuing visas to some #China visitors due to #coronarvirus. Will #Thailand consider the same move? #ไวรัสโคโรน่า #ไวรัสอู่ฮั่น It's believed #Bangkok doesn't see the need at this stage. Nation saw almost 11 million #Chinese visitors last year.
#CBOE #VIX #volatility index, also known as #WallStreet's "fear gauge" records biggest one-day spike in 10 months
MSCI’s All-Country World Index, which tracks #shares across 47 countries, fell for a six straight day on Monday - marking its longest losing streak this year.
#HongKong: Pressure on the #USD - #HKD peg is mounting. The rising #US interest rates have put enormous pressure on the HKD peg. This has depleted Hong Kong's excess FX reserves.
#HongKong has FX Reserves of $438bn (March 2019) plus another $6.9bn from the HKMA Exchange Fund which is there to stabilize the #HKD peg. Looking at the HKMA Exchange fund it is clear that money has been leaving HK. Since 2016 the fund has gone from $55bn to $7bn.
#HongKong M2 is currently 1,8 trillion USD. However, the total FX Reserves / M2 are only at 24%.
Good morning 🌞 Epic manufacturing 🇺🇸 ISM jobs report🔥📈
And we all know that jobs are key, esp manu jobs for the low skilled as they need stable full-time employment & purpose.
Obvs when we think of this, 1 country needs it more than most: 🇮🇳 India. Thread’ll follow soon 😎
And we all know that jobs are key, esp manu jobs for the low skilled as they need stable full-time employment & purpose.
Obvs when we think of this, 1 country needs it more than most: 🇮🇳 India. Thread’ll follow soon 😎
US ISM manufacturing basically remained high above 50 (55.3 to be exact for March although lower than early 2018) & that is a big divergence b/n contracting Eurozone manufacturing PMI & China contracting PMI in Q1 (although by only a smudge)
👇🏻👇🏻👇🏻👇🏻👇🏻
#USD #DXY #EUR #CNY #CNH
👇🏻👇🏻👇🏻👇🏻👇🏻
#USD #DXY #EUR #CNY #CNH
This is wut the ISM manufacturing employment job report look like:
📈📈🔥🔥🔥
(btw, China & the EU are not employment but headline numbers). Trump will use this for his 2020 pitch 👉🏻manu employment bouncing in the 🇺🇸 (yes, tax cuts helped & tariffs added costs of foreign goods)
📈📈🔥🔥🔥
(btw, China & the EU are not employment but headline numbers). Trump will use this for his 2020 pitch 👉🏻manu employment bouncing in the 🇺🇸 (yes, tax cuts helped & tariffs added costs of foreign goods)
