United States Baker Hughes US Oil Rig Count rose from previous 456 to 462

Oct 9, 2026

Asia FX: Trade negotiations and resilient macro backdrop – MUFG

MUFG’s Michael Wan highlights a mixed global backdrop for Asian currencies, with US Treasuries rallying and the US Dollar (USD) somewhat weaker, while tech stocks decline. He notes resilient Asia macro data, including strong Taiwan exports and South Korea’s current account.

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Oct 9, 2026

Chinese Yuan: PBoC stance and valuation debate guide currency path – MUFG

Halpenny highlights a new PBoC document defending China’s FX policy and rejecting claims that CNY drives its trade surplus, instead pointing to manufacturing competitiveness. He notes BIS REER data showing a 20% fall from the 2022 peak and IMF estimates of 12–20% undervaluation, suggesting CNY is undervalued but only partly explains China’s export strength.

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