Market Trends

Information and commentary from Hong Kong on the current market and future prospects regarding wildly fluctuating RMB exchange rates, interest rates and stocks.

Mizuho Bank 2021 RMB Outlook (Aug, 2021) [Steady but headwinds evolving](PDF/1,602KB)

Mizuho Bank 2021 RMB Outlook (Jul, 2021) [The resilience of RMB](PDF/1,531KB)

Mizuho Bank 2021 RMB Outlook (Jun, 2021) [The return of RMB rally](PDF/1,529KB)

Mizuho Bank 2021 RMB Outlook (May, 2021) [The return of RMB rally](PDF/1,452KB)

Offshore RMB Market Report

Comments on offshore RMB exchange rates, interest rates and stocks from the Hong Kong Treasury Division.

Mar 28, 2025 Offshore RMB Market Report[PBoC refrained from weakening the CNY fixing further](PDF/190KB)

Mar 21, 2025 Offshore RMB Market Report[The CNY fixing weakened to its 2-month low of 7.1760](PDF/199KB)

Mar 14, 2025 Offshore RMB Market Report[CNH remained range-bound amid escalating global trade war](PDF/275KB)

Mar 07, 2025 Offshore RMB Market Report[CNH gained more resilience against US tariff hikes](PDF/235KB)

Feb 14, 2025 Offshore RMB Market Report[CNH recovered to below 7.3 level on the delayed Trump's reciprocal tariffs](PDF/238KB)

Feb 07, 2025 Offshore RMB Market Report[CNH settled below 7.3 despite Trump's 10% tariff implementations](PDF/264KB)

Jan 24, 2025 Offshore RMB Market Report[CNH rebounded 7.25 level as Trump softened his tone on China tariffs](PDF/272KB)

Jan 17, 2025 Offshore RMB Market Report[China achieved its annual growth target of 5%](PDF/235KB)

Jan 10, 2025 Offshore RMB Market Report[The PBoC set the CNY fixing steady below 7.19 level](PDF/197KB)

Jan 3, 2025 Offshore RMB Market Report[CNY breached 7.3 level for the fist time since Nov 2023](PDF/261KB)

Dec 20, 2024 Offshore RMB Market Report[CNH hit 13-month low of 7.3269 on the back of USD rally](PDF/239KB)

Dec 12, 2024 Offshore RMB Market Report[Chinese leaders vowed to implement moderately loose monetary policy](PDF/232KB)

Nov 29, 2024 Offshore RMB Market Report[RMB showed resilience against Trump's tariff hikes](PDF/264KB)

Nov 22, 2024 Offshore RMB Market Report[PBoC ramped up CNY fixing supporty](PDF/261KB)

Nov 15, 2024 Offshore RMB Market Report[PBoC reactivated its CNY fixing policy support](PDF/233KB)

Nov 08, 2024 Offshore RMB Market Report[CNH tumbled after Trump's victory](PDF/191KB)

Nov 01, 2024 Offshore RMB Market Report[CNH trading is set to become volatile next week](PDF/235KB)

Oct 25, 2024 Offshore RMB Market Report[CNH hovered around 7.13 level](PDF/190KB)

Oct 18, 2024 Offshore RMB Market Report[CNH dropped as stimulus expectations dwindled](PDF/197KB)

Oct6 10, 2024 Offshore RMB Market Report[CNH weakened after the long holiday](PDF/241KB)