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Chinese state banks are in the spot market seen selling dollars for CNY

Chinese state banks are in the spot market seen selling dollars for CNY

  • Intervention to prop up the yuan
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 01:58 GMT-0
16/04/2024 | 01:58 GMT-0
News

China March new house prices -0.3% m/m (prior also -0.3%)

China March new house prices -0.3% m/m (prior also -0.3%)

  • China's hapless property sector
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 01:31 GMT-0
16/04/2024 | 01:31 GMT-0
Central Banks

PBOC sets USD/ CNY mid-point today at 7.1028 (vs. estimate at 7.2475)

PBOC sets USD/ CNY mid-point today at 7.1028 (vs. estimate at 7.2475)

  • In setting the reference rate so far from where the market is trading the PBoC is trying to support the weak yuan
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 01:15 GMT-0
16/04/2024 | 01:15 GMT-0
Central Banks

PBOC is expected to set the USD/CNY reference rate at 7.2475 – Reuters estimate

PBOC is expected to set the USD/CNY reference rate at 7.2475 – Reuters estimate

  • The PBoC is consistently setting the rate much lower than this to support the yuan
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 00:21 GMT-0
16/04/2024 | 00:21 GMT-0
News

ICYMI - S&P rating agency has downgraded another Chinese property developer

ICYMI - S&P rating agency has downgraded another Chinese property developer

  • Chinese property developer Longfor
Eamonn Sheridan
Eamonn Sheridan
Monday, 15/04/2024 | 23:31 GMT-0
15/04/2024 | 23:31 GMT-0
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