PBoC sets USD/CNY mid-point at 6.8589 vs exp. 6.8282 (prev. 6.8579)
The PBoC's decision to set the USD/CNY mid-point significantly higher than expectations indicates a more cautious stance toward currency stability amid potential outflows or economic pressures.
"Guided-missile destroyer USS Rafael Peralta (DDG 115) enforces the U.S. blockade of Iranian ports against M/T Stream after it attempted to sail to an Iranian port, April 26", US CENTCOM says
PBoC injects CNY 43.5bln via 7-day reverse repos with the rate maintained at 1.40%
PBoC sets USD/CNY mid-point at 6.8589 vs exp. 6.8282 (prev. 6.8579)
PRE-MARKET CHINESE STOCK NEWS: Alibaba receives approval for spin-off park, CATL plans fund raise, Yuanjie Semiconductor Technology net surges 1153% Y/Y
OpenAI's recent miss in new users and revenue has raised concerns among Co. leaders about whether it will be able to support its massive spending on data centres, WSJ reports citing sources
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This could suggest a hawkish undertone regarding future monetary policy, as the central bank appears to counter market volatility, impacting both risk sentiment and cross-border flows.
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