See the latest Australian dollar analysis here: Macro MorningWe need to pan out today to get the full grasp of what’s happening. Whoops…The yield shock is now GFC proportions:Stocks are right at June lows:For me, the key chart remains CNYUSD:CNY is also at historic support. There are signs China will try to hold it there with the PBoC imposing new reserve ratio requirments for FX yesterday. The entire post-WTO rise of CNY was premised on the Chinese economy transitioning from eternally-led to internally-led growth. The currency’s performance is in line with broad dollar strength, and roughly in keeping with widening interest rate differentials.

Source: Stuff September 27, 2022 01:56 UTC