PBoC is expected to set USD/CNY mid-point at 6.8112 (prev. 6.8648)

The People's Bank of China (PBoC) setting the USD/CNY mid-point significantly lower suggests a more aggressive stance to combat depreciation pressures on the yuan. This shift may impact market perceptions of China's economic outlook and could influence cross-asset flows, especially in FX and commodities, as traders recalibrate expectations around monetary policy and economic growth dynamics in the region.