Discover and read the best of Twitter Threads about #CNH
Most recents (9)
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…
Tether Operations Limited (@Tether_to), the company that powers the most widely used stablecoin by market capitalization, has announced the addition of its offshore Chinese Yuan (CNH₮) to the #Tron blockchain.
A thread 🧵
#Tether #CNH #stablecoins #stablecoin
A thread 🧵
#Tether #CNH #stablecoins #stablecoin
/1 At launch, @bitfinex will be the first exchange to enable its users to deposit and withdraw CNH₮ using the Tron blockchain transport layer from the platform.
/2 Created in 2019, CNH₮ is pegged to offshore Chinese yuan (CNH) and initially available only on the Ethereum blockchain as an ERC-20 token. Its launch on #TRON will make it the second blockchain on which CNH₮ can be obtained, traded, and held.
#THREAD on #WHAT is #RBI likely to do tomorrow at the #MPC and #Why and how it would #IMPACT Markets? #RETWEET
(1) A rate Hikes I’d probably 30-40bps
(2) More #Importantly, a 25-50bp CRR Hike as well
What are the Drivers of this Decision?
(1) A rate Hikes I’d probably 30-40bps
(2) More #Importantly, a 25-50bp CRR Hike as well
What are the Drivers of this Decision?
RBI biggest Driver of Policy in my view is FOREX.
India is suffering Daily Forex Outflows Due to
(1) high Commodity Prices (Oil & Coal etc)
(2) FPI outflows
(3) Rising Remittances while FDI has slowed down
Recall that Jndia is still NOT added to the JPM EM debt Index (NA)
India is suffering Daily Forex Outflows Due to
(1) high Commodity Prices (Oil & Coal etc)
(2) FPI outflows
(3) Rising Remittances while FDI has slowed down
Recall that Jndia is still NOT added to the JPM EM debt Index (NA)
Two ways to arrest the INR depreciation is to raise Rates (REPO) or reduce Liquidity (CRR)
But we know India has a Demand Issue.
More #IMPORTANTLY, higher Rates will HURT the Govts Borrowing Cost and Eventually Raise System Deposit Rates
But we know India has a Demand Issue.
More #IMPORTANTLY, higher Rates will HURT the Govts Borrowing Cost and Eventually Raise System Deposit Rates
Citibank 1/5: Week Ahead – key data/ events:
#USD: Retail Sales – Citi: 6.3%, median: 5.4%, prior: -3.0%; Retail Sales ex Auto – Citi: 4.9%, median: 4.8%, prior: -2.7%; Retail Sales ex Auto, Gas – Citi: 4.9%, median: 6.3%, prior: -3.3%; Retail Sales Control Group – Citi: 4.7%
#USD: Retail Sales – Citi: 6.3%, median: 5.4%, prior: -3.0%; Retail Sales ex Auto – Citi: 4.9%, median: 4.8%, prior: -2.7%; Retail Sales ex Auto, Gas – Citi: 4.9%, median: 6.3%, prior: -3.3%; Retail Sales Control Group – Citi: 4.7%
Citibank 2/5: median: 6.9%, prior: -3.5% - Citi analysts expect a strong rebound in retails in March with upside risks seen for many components in the retail control group. This could also help keep prices for various goods elevated after increases over the last year.
Citibank 3/5: #NZD: RBNZ meeting: Citi cash rate forecast; +25bp, Previous; +25bp – the MPC will likely continue to convey a dovish message given the unexpected negative Q4 2020 GDP result of -1.0% is a reminder that the path to complete recovery is not linear.
Citibank 1/11: Week Ahead – key data/ events:
#USD: CPI MoM – Citi: 0.6%, median: 0.5%, prior: 0.4%; CPI YoY – Citi: 2.7%, median: 2.5%, prior: 1.7%; PI ex Food, Energy MoM – Citi: 0.2%, median: 0.2%, prior: 0.1%; CPI ex Food, Energy YoY – Citi: 1.6%, median: 1.5%, prior: 1.3%
#USD: CPI MoM – Citi: 0.6%, median: 0.5%, prior: 0.4%; CPI YoY – Citi: 2.7%, median: 2.5%, prior: 1.7%; PI ex Food, Energy MoM – Citi: 0.2%, median: 0.2%, prior: 0.1%; CPI ex Food, Energy YoY – Citi: 1.6%, median: 1.5%, prior: 1.3%
Citibank 2/11: - Citi analysts expect a solid increase of 0.23%MoM in core CPI in March with upside risk for many components. The team expects March to show the start of price gains for a number of components that have been held down by soft demand.
Citibank 3/11: Retail Sales – Citi: 6.3%, median: 5.4%, prior: -3.0%; Retail Sales ex Auto – Citi: 4.9%, median: 4.8%, prior: -2.7%; Retail Sales ex Auto, Gas – Citi: 4.9%, median: 6.3%, prior: -3.3%; Retail Sales Control Group – Citi: 4.7%, median: 6.9%, prior: -3.5% -
#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)
🇺🇸 🇨🇳 *U.S. WAITING TO HEAR FROM #CHINA ON TRADE DEAL, KUDLOW SAYS - BBG
*KUDLOW EXPECTS U.S.-CHINA MEETING IN MARCH IN MAR-A-LAGO
*TRUMP, LIGHTHIZER ARE VERY CLOSE, KUDLOW TELLS CNBC
*KUDLOW EXPECTS U.S.-CHINA MEETING IN MARCH IN MAR-A-LAGO
*TRUMP, LIGHTHIZER ARE VERY CLOSE, KUDLOW TELLS CNBC
🇺🇸 🇨🇳 #CHINA WOULD HAVE TO NOTE ANY FX INTERVENTION UNDER DEAL: KUDLOW - BBG
🇨🇦 🇺🇸 🇨🇳 🇮🇷 #Canada arrests #Huawei’s global chief financial officer in Vancouver – The Globe and Mail
theglobeandmail.com/canada/article…
theglobeandmail.com/canada/article…
A gauge of #technology shares on the MSCI #Asia Pacific Index slid as much as 3 percent before paring some losses - Bloomberg
🇺🇸 #SPX ⬇ as much as 1.9% from Tuesday’s close, before paring some losses. Selling pressure early in the session was so intense that it forced CME Group to intermittently pause trading, according to a spokesperson for the exchange - Bloomberg
*Link: bloom.bg/2BTw5DN
*Link: bloom.bg/2BTw5DN
