S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketThe offshore yuan strengthened to around 6.97 per dollar, near thirty-two-month highs, as confidence in the currency continued to build alongside falling hedging costs. One-year forward contracts now allow investors to lock in settlement rates below the current spot level, marking the lowest implied costs since 2022. Data also show a pickup in forward settlement activity at Chinese banks, reflecting rising demand to manage currency exposure. Additionally, exporters have been converting more of their dollar earnings into yuan, with banks recording sustained net FX selling on behalf of clients. The currency’s rally, about 5% over the past year and recently breaking the 7 per dollar mark, has been supported by broad dollar weakness, China’s strong trade surplus, improving economic conditions, and steady inflows ahead of the Lunar New Year. Central bank guidance through firmer daily fixings has also reinforced expectations that authorities remain comfortable with further yuan appreciation.
