hsbc.co.uk; Zhou Xiaochuan: Will continue prudent monetary policy

hsbc.co.uk report: on July 15, Bank of China (PBOC) Governor Zhou Xiaochuan said to continue to implement prudent monetary policy, maintain a reasonable amount of credit, create a favorable financial environment for the development of small and micro enterprises. Push forward interest rate reform steadily, develop the basic effect of market in resource allocation in greater degree, and improve the credit availability of small and micro enterprises.

On the small and micro enterprise financial services experience sharing video and telephone conference, Zhou Xiaochuan said to balance the relationship between steady growth, structural adjustment, control inflation and risk prevention. Integrated use of quantity, price and other monetary policy tools, give full play to the guiding role of re-lending, rediscount and differentiated reserve dynamic adjustment mechanism. Continue to implement the low deposit reserve ratio for small and medium financial institutions, revitalize the stock and make good use of incremental, increase the capital source of small micro-enterprise credit funding.

Zhou Xiaochuan said: "In the premise of risk control, we should promote the development of convention and securitization development of credit assets. Guide financial institutions to invest small and micro enterprises with revitalized capital. Accelerate the development of the inter-bank bond market, support qualified small and micro enterprises to publish the debt financing instruments. In addition, to further promote the development of private financing norms. Play a role of private financing in expanding of financing sources of small and micro enterprises."

 In early Monday, CNY goes slightly higher. The previously announced Chinese second quarter GDP data shows that Chinese economic growth is easing off further.

The latest USD/CNY is at CNY ￥6.1388; last Friday the end closed at CNY ￥6.1375. Today's middle price is at  CNY ￥6.1663,last Friday's at CNY ￥6.1631. Although USD drops in the oversea market, today's middle price is set high. The dollar index in Wall Street Journal was at 74.9596 on last Friday end, 75.0008 for Thursday. China's GDP of the second quarter has risen 7.5%, which is accordance with the expectation but is slightly lower than the first quarter's 7.9 %, and is also lower than the fourth quarter in 2012.

A trader of a foreign bank in Beijing said that the impetus of CNY appreciation was weakening. CNY now is waiting for the certainty of domestic economic trend and the decision maker's purpose. In offshore market, one-period USD/CNY non-deliverable forwards move up to CNY ￥6.2918/6.2850. and on last Friday ends at CNY ￥6.2858/6.2895.hsbc.co.uk.

hsbc.co.uk：RMB trend analysis July 15, 2013

RMB against the U.S. dollar continued drop since last Friday, because investors reduce long position holdings of RMB in this week, before China's economic data in the second quarter published. hsbc.co.uk analyze that China's economy slows further. In enquiry trading market, U.S. dollar against the RMB closed at 6.1375 yuan, higher than last Thursday's closing price of 6.1352 yuan. U.S. dollar intraday fluctuate within a range in the RMB 6.1368 to 6.1423 yuan.

Despite the U.S. dollar's weakness overnight, China's central bank sets the U.S. dollar against the RMB central parity rate at 6.1631 yuan, higher than last Thursday's 6.1599 yuan. In offshore market, 1 year U.S. dollar against the RMB non-deliverable option forward by rise from last Thursday's close order of RMB 6.2815/6.2845 to RMB 6.2858/6.2895. hsbc.co.uk implies that market will expected to fall by 2.3% next year in RMB against the U.S. dollar. In Hong Kong's offshore RMB market, last Friday U.S. dollar against the RMB at 6.1420 yuan, higher than last Thursday's close order at 6.1390 yuan.

hsbc.co.uk: China GDP Growth To 7.5% in The Second Quarter

China expanded at an impressive 7.5 percent rate in the second quarter, with market expectation growth to 7.5%.

National Bureau of Statistics(NBS) of China announced in Monday, its GDP in the second quarter rose to 7.5% from a year earlier, and the growth is slower than the 7.7% of the first season.

The economist reached 7.5% forecast in the hsbc.co.uk survey.

The NBS expressed after the seasonal adjustment, China's economy in the second quarter is 1.7% higher than that of the first quarter.

China's industrial added value inJune is 8.9% higher from a year eariler, with market expectation growth to 9.1%.

China's gross retail sales rose 13.3% compared with the same period last year, ringing up 1.26%./Mei Zhu

The analyst of hsbc.co.uk said:GMT ( Greenwich mean time ) 0200, China's second-quarter gross domestic product (GDP) data announced would affect the currency movements. Dollar sentiment on the rise, the bank of England's loose monetary policy position, and the pound selling caused by EUR/GBP on the rise resulted in pressure-bearing of GBP/USD. The UK Rightmove released the home price index which went up by 0.3%, average asking price for homes

rose to a new record 253,658 pounds so that the pound sentiment is remitted. The warming risk appetite among investors would restrain rate slump.

Daily oscillators are still expected to rise. Stochastics in oversold zone rose. MACD histogram below the zero line is contracting, while the K-line chart went inside last Friday. Support level lies at 1.5074 dollars(low level of Last Friday). They would drift down to 1.4997(low level of Last Thursday) if lost. Then we should pay attention to 1.4968 dollars(hour chart), 1.4843 dollars(low level of Last Wednesday), 1.4812 dollars(the Lowest level on three years reached in last Tuesday), 1.4686 dollars( the low level in June 22, 2010) and 1.4549 dollars( the low level in June 14, 2010). Resistance lied at 1.5187 dollars( the high level of last Friday), then it was looked back to 1.5222 dollars( the high level of last Thursday). It lied at 1.5302 dollars( the high level of July 3) if been broken, then it was looked back to 1.5346( the high level of July 27), 1.5440 dollars ( the high level of July 26), and 1.5476 dollars ( the high level of July 25). /hsbc.co.uk bank /Mei Zhu

hsbc.co.uk: Britain Rightmove House Price Index Annual Rises in July

British real estate website Rightmove arises the expectation of house price growth in 2013 from 2 percent to 4 percent.

The annual rate of Rightmove house price index in July rises 4.8 percent.

The rate per mensem of Rightmove house price index in July rises 0.3 percent./Zhangyan

Hsbc. co.uk provides customers a range of electronic payment services that are quick and easy to use. So it is important for people to know what types of international money transfer services are available.

The first one is Global Transfers

    If you're an hsbc.co.uk premier or advance customer with accounts in one of over 30 countriesopens an overlay window, this is the quickest and most cost effective way to transfer money.

    The second one is SEPA Payments

    The Single Euro Payment Area (SEPA) is designed to create a convenient single market for Euro payments within Europe. SEPA's reach extends to over 32 countries and territories.

    Then it is the World pay. World pay is a method of sending amounts up to the currency equivalent of ￡2,000 in local currency directly to the overseas bank account of the beneficiary, in any of 21 countries.

    The last one is Priority Payments. This could be an ideal choice if you are sending money abroad and the destination country is not eligible for World pay or SEPA payments.

    After understanding these four transfers you may ask how to make an international payment? It is quite easy.

    If you are a registered for personal Internet banking, all you need to do is:

     1. Log on

     2. Select the account from which you want to transfer money

     3. Select 'Send Money Overseas' and enter the required payment details

     4. Carefully check all the payment details - including the beneficiary details - as you won't be able to correct them once you have  confirmed the payment

     5. Generate a transaction code on your Secure Key and enter it when prompted

     6. Confirm your payment. The exchange rate will expire after 90 seconds, but you can then refresh for a new one.

    If you are not registered, just register.

hsbc.co.uk The Decline of AUD Appears to Be Continued

Friday(July 12th) Morning session of Asian Market, the Australian dollar(AUD) against its American counterpart will continue to fall and are trading around the 0.9161mark.
Foreign exchange research team of hsbc.co.uk believed that there would be three themes to ensure the continuous decline of AUD.
These three themes include: Fed cuts down the bond buying scale, RBA looks forward to the weakness of the AUD, and China's economic growth slows.
hsbc.co.uk also said that the market expectation of slowing growth of Asian economic, especially in China, may cause AUD continue to sell order./Mei Zhu

Hsbc.co.uk stated that yesterday the IMF lowered the global economic growth expectation of 2013 and 2014 as the result of the slower growing speed of emerging market and economic recession in Euro zone, which may confine the amount of increase of gold price.

IMF reduced in the global economic outlook on Tuesday the economic expectation of 2013 and 2014 both by 0.2 percent to respectively 3.1 percent and 3.8 percent.  

As hsbc.co.uk points out, the slowdown of global economy is not good news to precious metal. At first, it means that platinum, palladium, and silver which are closely related to industry will have to bear pressure. Meantime, the negative expectation of future inflation by IMF is not optimistic.

Besides, it also said that recent rise in gold price mostly results from emerging market assets. Therefore, the negative expectation will prevent the gold price from rising. But a good new is that because the future financial market will fluctuate violently, the gold price is predicted to be reversed.

HSBC Bank, one of the four major clearing banks in the United Kingdom, is a wholly owned subsidiary of HSBC Holdings. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. Now it is the largest bank all over the Europe.

According to the distribution, it is clear that England enjoys the most search volume. Wales ranks second, Scotland third, North Ireland the last. It is reported that across all brands the bank operates some 1800 sites in the UK, most of which concentrate in England and Wales, a few in Scotland and North Ireland, which gives a resonable explanation to the unbalance of search volume.



The city ranking shows that Brentford instead of the capital London gets the Top 1 while London just ranks 5 on the list. Between them are respectively Thames Ditton, Poplar, and Sheffield.

Having the famous Brenford football club, Brentford becomes the focus of football fans around UK which may indirectly provoke the football lottery with the help of HSBC. Probably, that’s why London fails to rank Top1 though the bank is headquartered in there.

LONDON, UNITED KINGDOM, Jun 01, 2013 (Marketwired via COMTEX) -- HSBC today launches a new tracker mortgage rate in response to demand from customers with more than 50% equity in their homes.

The new fee-free(i) lifetime tracker rate, available from Friday 31st May, is available to HSBC current account customers with a 50% deposit or equity. The rate tracks base rate plus 1.99%, currently 2.49%.

In addition, HSBC continues to offer competitive rates across all LTV bands including:

60% LTV:

        --  1.75% 2-year discount - GBP 1999 fee
       
        --  1.89% 2-year fixed -  GBP 1999 fee
       
        --  2.28% lifetime tracker - GBP 1999 fee
       
        --  2.49% 5-year fixed - GBP 1,999 fee
       
        --  2.59% 2-year fixed - fee free(i)
       
        --  2.69% lifetime tracker - fee free(i)
       
       
90% LTV:

        --  3.64% 2-year fixed - GBP 999 fee
       
        --  3.74% 2-year discount - GBP 999 fee
       
        --  4.39% 5-year fixed - GBP 999 fee
       
        --  4.39% lifetime tracker - GBP 899 fee
       
       
Peter Dockar, HSBC Head of Mortgages, said: "We are committed to offering our customers competitive rates, including those with smaller deposits. The fee-free 50% LTV rate is in response to demand from our customers; more than half of those taking a 60% LTV product have more than 50% equity in their homes."

(i) Fee-free means: No booking fee, no standard valuation fee, no completion fee.

HSBC will cover the cost of one standard valuation where this is required by HSBC as part of the mortgage application. Additionally, where it is a straight forward transfer from another lender, HSBC also pays the standard legal costs.

Source: http://www.newsroom.hsbc.co.uk/press/release/hsbc_launches_new_fee-free_50.

HSBC Bank plc: HSBC serves 16.1 million customers in the UK and employs approximately 52,000 people. In the UK, HSBC offers a complete range of personal, premier and private banking services including bank accounts and mortgages. It also provides commercial banking for small to medium businesses and corporate and institutional banking services. HSBC Bank plc is a wholly owned subsidiary of HSBC Holdings plc.

The HSBC Group: HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and Africa. With assets of US$2,556bn at 31 December 2011, HSBC is one of the world's largest banking and financial services organisations.

Notes to Editors

HSBC mortgages are only available directly from HSBC - they are not available from brokers or any other intermediaries.