PBoC injects CNY 27bln via 7-day reverse repos with the rate maintained at 1.40%
The PBoC's injection of CNY 27 billion via 7-day reverse repos, while maintaining the rate at 1.40%, indicates a continued strategy to support liquidity in the market without altering the monetary policy stance.
Australian Imports MoM (Mar) M/M 14.1% (Prev. -3.2%)
Australian Exports MoM (Mar) M/M -2.7% (Prev. 4.9%)
PBoC injects CNY 27bln via 7-day reverse repos with the rate maintained at 1.40%
PBoC sets USD/CNY mid-point at 6.8487 vs exp. 6.8087 (prev. 6.8562)
[MARKET UPDATE] Modest downside in oil prices has spurred USD weakness, G10s against the greenback has formed new session highs/lows, despite no clear driver; spot gold regains USD 4700 handle
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This move suggests that while short-term liquidity is being supported, the central bank is likely remaining cautious about rate adjustments amidst broader economic conditions. Traders should watch for implications on the CNY and any potential influence on market sentiment in relation to risk appetite in Asia.
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