In Open Market operations, injects 60bn yuan via 7-day reverse repos
USD/CNY higher today from the bank, first devaluation of the CNY for 6 days
- The mid point (or reference rate) is set each day by the PBOC
- The bank then allows USD/CNY to trade in a plus or minus 2% band around this mid point
- USD/CNH is free to trade outside any band, however.
--
Stay tuned, coming up soon:
- 0130GMT - Australia - Trade balance for June, expected -2bn, prior -2.218bn
- 0130GMT - Australia - Building approvals for June. For the m/m expected +0.8%, prior -5.2% and for the y/y expected -2.4% & prior -9.1%
There is more data (from NZ) a little later then at 0430GMT the RBA announcement
The RBA announcement ....
