PBoC is expected to set USD/CNY mid-point at 6.8206 (prev. 6.8616)
The PBoC's adjustment of the USD/CNY mid-point to 6.8206 from 6.8616 indicates a stronger CNY relative to the dollar, which may reflect an easing policy or an attempt to stabilize currency fluctuations.
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: TSMC (2330 TT) Q1 (TWD) net 572.5bln (exp. 542.38bln), op. profit 659bln (prev. 407.1bln Y/Y), rev. 1.13tln (prev. 839.3bln Y/Y)
Singaporean Non-Oil Exports YoY (Mar) Y/Y 15.30% (Prev. 4%)
PBoC is expected to set USD/CNY mid-point at 6.8206 (prev. 6.8616)
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This move could influence market sentiment, impacting both forex and risk assets, particularly if it signals a shift in the PBoC's approach to managing currency valuation amidst ongoing economic pressures.
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