PBoC is expected to set USD/CNY mid-point at 6.9468 (prev. 6.9533)
The PBoC's adjustment of the USD/CNY mid-point to 6.9468 reflects a slightly weaker yuan compared to the previous rate of 6.9533.
Australian Imports MoM (Dec) M/M -0.8% (Prev. 0.2%)
Australian Balance of Trade (Dec) 3.37B vs. Exp. 3.325B (Prev. 2.936B, Low. 2.6B, High. 4.0B)
PBoC is expected to set USD/CNY mid-point at 6.9468 (prev. 6.9533)
[MARKET UPDATE] Asia-Pac stocks are mostly lower following the continued tech rout on Wall St, where semiconductor names were hit, while recent focus was also on geopolitics after US/Iran talks were reported to be off, and then on again
Renesas (6723 JT) FY2025 (JPY) net loss 51.7bln (prev. profit 219.1bln Y/Y), oper. 201.2bln (prev. 223.0bln Y/Y), rev. 1.32tln (prev. 1.35tln Y/Y)
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This move may signal the central bank's intent to support exports or manage economic growth, thus influencing market expectations for further policy adjustments. Traders should watch for potential implications on risk sentiment and cross-asset behaviors, particularly in USD and Asian currencies.
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