The US Dollar strengthened following a hot 6% PPI print that spurred hawkish Fed repricing, while the Yuan rallied ahead of a Trump-Xi summit in Beijing. Regional focus includes a political crisis in the Philippines and increased import duties in India.
Key Takeaways
- 1.US April PPI rose 6% YoY, significantly hotter than expected, driven by energy costs and freight prices.
- 2.The Trump-Xi Summit in Beijing focuses on a potential 'Board of Trade' mechanism to cut tariffs and coordination on AI chip policy and Iran.
- 3.The Chinese Yuan (CNH) is defying broader US Dollar strength, extending a 10-day rally ahead of the summit.
Table of Contents
- Market Highlights
- Ahead Today
- INDICATIVE RATES 13-May-2026
- FOREIGN EXCHANGE
- Disclaimer
- CERTIFICATION
- DISCLAIMERS
- General disclosures
- Country and region specific disclosures
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Authors
Michael Wan
Securities
USDCNHUSDJPYCSCONVDASPX
Themes
US Inflation and Fed PolicyUS-China GeopoliticsAsian Political Instability
Regions
Asia PacificNorth AmericaUnited StatesChinaPhilippines