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PBoC is expected to set USD/CNY mid-point at 6.9689 (prev. 7.0078)

The PBoC's decision to set the USD/CNY mid-point significantly lower at 6.9689 suggests a targeted depreciation of the yuan against the dollar.

Newsquawk StaffPublished On the live feed at — 1 more headline followed before this page went public
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[MARKET UPDATE] USD/CNH reaches new lows last seen in Sept'24, currently trading at 6.9580; heavy data docket ahead which includes Q4 GDP

PRE-MARKET TAIWANESE AND SINGAPOREAN STOCK NEWS

PBoC is expected to set USD/CNY mid-point at 6.9689 (prev. 7.0078)

[MARKET UPDATE] Euro Stoxx 50 futures opens down -1.2%, DAX -1.3%, as trade tensions re-arise between Europe and the US

South Korean Trade Ministry says South Korea and China are to hold a new round of free-trade negotiations on services and investment

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Context

This adjustment could be viewed as a move to support exports amid economic pressures, and may influence market expectations for cross-border flows and potentially draw attention from the Fed regarding U.S.-China competitiveness in currency policy.

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