USD / CNY reference rate for today from the PBOC

And, open market operations ... skipped today. The Bank says liquidity is appropriate

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On Friday the Bank set the CNY for its index (basket) at 93.00

  • prior was 92.78 on April 28 setting
  • China Foreign Exchange Trade System (CFETS) sets the rate; CFETS is a part of the People's Bank of China

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More:

This is what ANZ commodities team are watching on China's housing market:

  • The measures by authorities to deepen financial reform are raising concerns of tighter credit conditions
  • For metals markets, this has the potential to impact demand from the housing market
  • However, we expect this to remain concentrated on first tier cities, with growth from other centres remaining strong
  • This should see steel demand remain healthy