PBoC sets USD/CNY mid-point at 6.8616 vs exp. 6.8190 (Prev. 6.8582)
The People's Bank of China (PBoC) has set the USD/CNY mid-point significantly higher than market expectations, which may signal a more accommodative monetary stance or concerns about currency stability.
Chinese House Price Index MoM (Mar) M/M -0.2% (Prev. -0.3%)
PBoC injects CNY 0.5bln via 7-day reverse repos with the rate at 1.40%
PBoC sets USD/CNY mid-point at 6.8616 vs exp. 6.8190 (Prev. 6.8582)
PRE-MARKET CHINESE STOCKS NEWS: Contemporary Amperex Technology (300750 CH) Q1 (CNY) net 20.7bln (exp. 17.9bln), rev. 129.1bln (exp. 116.3bln), to set up unit ensuring supply chain stability, and said to seek relief from Pentagon curbs
Australian Consumer Inflation Expectations (Apr) 5.9% (Prev. 5.2%)
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This adjustment could influence traders' sentiment towards risk assets and may lead to shifts in the USD's dynamics against other currencies as investors reassess their positions in response to China's economic outlook and policy direction.
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