24 Dec 2015
US initial jobless claims in focus after China extended trading hours – BBH
FXStreet (Delhi) – Research Team at BBH, notes that the China extended trading hours for the onshore yuan to 1130 PM Shanghai time.
Key Quotes
“Currently, trading ends at 430 PM. China will also allow more foreign participation. PBOC noted that permitting foreign institutions to trade in the onshore yuan market will help narrow the gap between the onshore and offshore rates. We have always felt this was one of China’s goals in internationalizing the yuan.”
“The US reports weekly jobless claims for the week ended December 19. The previous week (which coincides with the BLS survey week), initial claims fell to 271k. The Atlanta Fed’s GDPNow model now puts Q4 GDP growth at 1.3% SAAR, down from 1.9% previously due to yesterday’s November personal spending data.”
Key Quotes
“Currently, trading ends at 430 PM. China will also allow more foreign participation. PBOC noted that permitting foreign institutions to trade in the onshore yuan market will help narrow the gap between the onshore and offshore rates. We have always felt this was one of China’s goals in internationalizing the yuan.”
“The US reports weekly jobless claims for the week ended December 19. The previous week (which coincides with the BLS survey week), initial claims fell to 271k. The Atlanta Fed’s GDPNow model now puts Q4 GDP growth at 1.3% SAAR, down from 1.9% previously due to yesterday’s November personal spending data.”