China press says the PBOC may resume open market operations shortly

The Securities Journal with the report

The Bank has not conducted OMOs for the past 12 business days, which in effect (accounting for maturing reverse repos) has drained funds from the money market.

But the Journal saying OMOs to resume soon. I expect they will before the end of the month indeed.

---

As a side note, yesterday I posted on a report from China Securities Journal saying China press - Analysts say yuan likely to keep strengthening

Which I called b/s on.

This was followed by a devaluation of the CNY from the PBOC yesterday

• PBOC sets USD/ CNY reference rate for today at 6.4968 (vs. yesterday at 6.4832)

and then later during the China afternoon with the PBOC seemingly taking a more relaxed view on CNY weakening:

• PBOC's latest move cuts support for the Chinese yuan

-

Also as a side note, I had a comment yesterday on who cares about what China is doing with the CNY. Given the big FX moves the PBOC announcement was a catalyst for the comment was , errr, poorly timed, at best. :-D

Developments in China and the Chinese currency have an impact on financial markets. If this is news to you it may be best to take a break from trading and do a bit more learning. Or not, the markets are always grateful for donations.

ForexLive will continue to report on China.