PBoC is expected to set USD/CNY mid-point at 6.7909 (prev. 6.8435)
Context
The PBoC's decision to set the USD/CNY mid-point significantly lower than the previous fix suggests a more accommodative stance, likely aimed at supporting China's economic activity. This could lead to a weaker CNY, impacting cross-asset flows, including commodities and broader FX markets, as traders reassess their expectations for monetary policy and potential interventions.
Trade the TapeGet this analysis live, the moment it breaksNewsquawk's real-time dashboard delivers market-moving headlines and instant context to your desk before the rest of the market reacts.
Open Dashboard#UNITED STATES#USD#CHINA#CNY#JAPAN#UNITED KINGDOM#ASIA#PBOC#FOREX#FIXED INCOME#ASIAN SESSION#CENTRAL BANK#USD/CNY#DXY