PBoC is expected to set USD/CNY mid-point at 6.9135 (prev. 6.9523)
The expectation that the PBoC will set the USD/CNY mid-point significantly lower suggests a shift towards a more competitive yuan, potentially aimed at supporting exports or addressing economic headwinds.
Australian Private House Approvals YY Final (Dec) 0.4% (Prelim. 0.4%)
Australian NAB Business Conditions (Jan) 7 (prev. 9)
PBoC is expected to set USD/CNY mid-point at 6.9135 (prev. 6.9523)
[MARKET UPDATE] Asia-Pac stocks are higher as the region takes impetus from the gains on Wall St, where the S&P 500 approached closer towards its record levels and the Nasdaq outperformed as the tech rebound persisted
UK BRC Retail Sales Monitor YoY (Jan) Y/Y 2.3% vs. Exp. 1.2% (Prev. 1.0%, Rev. From 1%)
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This could lead to pressure on the dollar as it reflects policy adjustments and influences the broader forex landscape. Traders should monitor how this impacts risk sentiment and related currency pairs.
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