The People's Bank of China set the onshore yuan reference rate for the trading session ahead.

  • The previous close was 6.5724
  • Reuters estimate from their survey was 6.5713, Bloomberg 6.5713 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC.)

PBOC injects 10 billion yuan liquidity via 7-day reverse repo

  • 10 billion yuan reverse repo matures today

  • thus neutral, no net injection nor drain

  • 23rd day in a row of neutral