PBOC is expected to set the USD/CNY reference rate at 6.7931 – Reuters estimate
From the original
The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under whic
Related speeches
4 itemsPBOC is expected to set the USD/CNY reference rate at 6.7992 – Reuters estimate
PBOC is expected to set the USD/CNY reference rate at 6.7913 – Reuters estimate
PBOC is expected to set the USD/CNY reference rate at 6.7945 – Reuters estimate
The desk anticipates a USD/CNY reference rate set by the PBOC at approximately 6.7945, reflecting the central bank's nuanced approach to managing the yuan amid fluctuating global conditions. Per the full note from Eamonn Sheridan at investinglive.com, this fixing is critical as it signals the PBOC's stance on currency stability and competitiveness. The current trading band allows for a 2% fluctuation around the midpoint, which the PBOC adjusts daily based on various economic indicators. With the yuan's performance closely tied to broader international FX dynamics, traders should remain vigilant about potential interventions from the PBOC, especially in response to shifts in US dollar strength or domestic economic pressures.
More like this
5 itemsECB president Lagarde talks of 'unwarranted' market moves, but who gets to decide what is warranted?
PBOC sets USD/ CNY reference rate for today at 6.7330 (vs. estimate at 6.6973)
PBOC is expected to set the USD/CNY reference rate at 6.7973 – Reuters estimate
Fed's Musalem says more monetary policy firming will be required