PBoC sets USD/CNY mid-point at 6.8649 vs exp. 6.8315 (Prev. 6.8680)
The PBoC's setting of the USD/CNY mid-point at 6.8649 is notably higher than the expected 6.8315, indicating a weaker CNY against the USD.
OCBC Group Research FX strategists say Asian currencies' recovery spurred by the US-Iran ceasefire is likely a tactical reprieve rather than a full reversal at this juncture, according to WSJ
PBoC injects CNY 0.5bln via 7-day reverse repos with the rate at 1.40%
PBoC sets USD/CNY mid-point at 6.8649 vs exp. 6.8315 (Prev. 6.8680)
PRE-MARKET CHINESE STOCKS NEWS: Earnings and sales updates including from Aluminium Corporation of China,
Australia sells AUD 150mln in 2032 indexed bonds, b/c 3.63, avg. yield 2.1746%
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This deviation could suggest a more dovish stance from the central bank, potentially impacting not just FX markets but also risk sentiment and cross-asset flows, particularly if this trend continues.
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