PBoC sets USD/CNY mid-point at 6.9141 vs exp. 6.9089 (Prev. 6.9056)
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Chinese Industrial Profits (YTD) YoY (Feb) Y/Y 15.2% (Prev. 0.6%)
PBoC injects CNY 146.2bln via 7-day reverse repos with the rate at 1.40%
PBoC sets USD/CNY mid-point at 6.9141 vs exp. 6.9089 (Prev. 6.9056)
PRE-MARKET CHINESE STOCKS NEWS: Earnings deluge including China Mobile, CITIC Securities, CNOOC, Meituan, PICC & Ping An Insurance
Heavy explosions reported in US bases in Saudi Arabia and Kuwait, according to ISNA
On the Newsquawk feed at , 20 minutes before this page.
Context
The People's Bank of China (PBoC) has set the USD/CNY mid-point slightly higher than expectations, suggesting a modest policy shift or response to market conditions. This adjustment may indicate a stronger dollar stance and could influence trader sentiment in the FX markets, particularly affecting demand for the yuan. Watch for potential volatility in pairs that are sensitive to the USD/CNY rate as market participants digest this mid-point adjustment.
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