The yuan at five and half year highs against its basket
In December of 2015 the People's Bank of China bank launched a trade-weighted index for the RMB
- The basket contains the currencies of 13 of China's major trading partners
- It was set at a 100 base as of the end of December 2014
- The China Foreign Exchange Trade System (CFETS, a unit of the PBOC) manages the basket
---
Its been active re China so far today:
- China new home prices in September +3.8% y/y (prior +4.2%)
- China 1 and 5 year LPR both left unchanged at 3.85% and 4.65%
- China has suspended its imports from another Australian meatworks
- PBOC sets USD/ CNY mid-point today at 6.4069 (vs. estimate at 6.4090)
- China says foreign direct investment January-September is +19.6% y/y
- China's most active futures for thermal & coking coal, coke all limit down
- IMF's Berger says Evergrande risk to China is contained for now, but ...
- China state media says that the expectation of a RRR cut from the PBOC in Q4 has fallen
- China's state planner threatens coal market intervention
