PBoC sets USD/CNY mid-point at 6.9523 vs exp. 6.9334 (Prev. 6.9590)
The PBoC's USD/CNY mid-point setting at 6.9523 is notably higher than expected, suggesting a more proactive approach to manage the CNY's value amidst economic pressures.
PBoC injects CNY 113bln via 7-day reverse repos with the rate at 1.40%
PRE-MARKET CHINESE STOCKS NEWS: Innovent Biologics (1810 HK) announced strategic collaboration with Eli Lilly (LLY)
PBoC sets USD/CNY mid-point at 6.9523 vs exp. 6.9334 (Prev. 6.9590)
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: DBS (DBS SP) Q4 (SGD) net 2.36bln (exp. 2.57bln), rev. 5.33bln (exp. 5.70bln
Angolan Inflation Rate MoM (Jan) M/M 0.68% (Prev. 0.95%)
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This deviation from expectations could imply a hawkish stance towards stabilizing the currency and may introduce volatility in forex markets as traders reassess the implications for monetary policy and risk sentiment towards the USD.
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