Published: 2024-01-04T05:53:03.000Z
AUD/USD flows: Getting Proxy Support
FX Analyst
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PBoC fixed onshore Yuan stronger
China Caixin Services PMI for December 52.9 (expected 51.6)
Fitch downgrades four Chinese National asset management firms
Once again the PBoC has fixed the onshore Yuan significantly stronger than expected in an attempt to slow the fall of Yuan in sight of recent USD strength. It is a mized picture for China on Thursday as we see the Caixin Services PMI for December came in stronger at 52.9 vs 51.6 expected but we are also hearing Fitch downgrades four Chinese National asset management firms.
Shrugging off soft regional sentiment, the Aussie gain proxy support and see AUD/USD trading 0.11% higher at 0.6739.