PBoC is expected to set USD/CNY mid-point at 6.9849 (prev. 7.0128)
The PBoC's decision to set the USD/CNY mid-point lower at 6.9849 suggests a marked shift in policy aimed at stabilizing the yuan against the dollar.
White House says it was displeased with Exxon’s (XOM) reaction; Officials hint that Exxon might be kept out with regards to Venezuela
US President Trump says working well with Venezuela's leadership
PBoC is expected to set USD/CNY mid-point at 6.9849 (prev. 7.0128)
[MARKET UPDATE] USD/JPY gradually dips under 158.00 (vs high 158.21), with some participants on intervention watch around these levels. Note: Japan is also on holiday, thus volumes from the region likely lower
[MARKET UPDATE] Spot XAU breaks to a new ATH, currently at USD 4554/oz, amid tensions in Iran and recent US data
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This more competitive midpoint could enhance exports and impact China’s monetary policy; watch for potential reverberations across FX markets and investor sentiment regarding other currencies.
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