PBoC sets USD/CNY mid-point at 6.8467 vs exp. 6.7988 (prev. 6.8502)
The PBoC's setting of the USD/CNY mid-point significantly diverges from expectations, coming in much higher than the anticipated rate.
PBoC injects CNY 0.5bln via 7-day reverse repos with rate maintained at 1.40%
PRE-MARKET CHINESE STOCKS NEWS: Chinese trade data topped forecasts, while attention turns to inflation data
PBoC sets USD/CNY mid-point at 6.8467 vs exp. 6.7988 (prev. 6.8502)
China confirms US President Trump's visit to China on May 13th-15th
OpenAI allowed employees to sell up to USD 30mln worth of shares each in recent financing, in which more than 600 current and former employees sold their shares in a single stroke last October, according to WSJ
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This adjustment could signal a more cautious stance regarding the yuan, potentially influencing market perceptions of monetary policy direction and impacting USD flows in the region. Traders should monitor how this might affect broader risk sentiment and other currency pairs.
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