China Finance Ministry Official crossed wires via Reuters on early Thursday in Asia while saying, "China will guide overall interest rates lower for Treasury bond issuance in 2022."
Additional comments
In 2022, China will issue a record number of treasury bonds.
In 2022, China will guide overall interest rates for Treasury bond issuance lower.
China will direct more long-term foreign investors into its Treasury bond market.
FX implications
The news should ideally favor AUD/USD considering the rule that an increase in money supply at the largest customer of Australia will benefit the Aussie economy. That said, AUD/USD seesaws around 0.7255 while trying to keep the previous day’s upside momentum at the latest.
Read: AUD/USD Price Analysis: Pokes monthly resistance on the way to 0.7290
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