PBoC sets USD/CNY mid-point at 6.7948 vs exp. 6.7821 (prev. 6.7934)
The PBoC's USD/CNY midpoint setting at 6.7948, above expectations, suggests a subtle shift towards a stronger yuan against the dollar than market participants anticipated.
PBoC injects CNY 398.5bln via 7-day reverse repos with rate maintained at 1.40%
IRGC says two oil tankers were blown up after attempting to transit the southern route in the Strait of Hormuz
PBoC sets USD/CNY mid-point at 6.7948 vs exp. 6.7821 (prev. 6.7934)
Chinese Loan Prime Rate 1Y 3.00% vs. Exp. 3.00% (Prev. 3.00%)
Chinese Loan Prime Rate 5Y (Jul) 3.50% vs. Exp. 3.50% (Prev. 3.50%)
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This could imply increased attempts by the central bank to manage currency fluctuations amidst ongoing trade tensions, which may spark reactions in forex markets and affect broader risk sentiment.
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