PBOC sets USD/ CNY mid-point today at 6.5649 (vs. yesterday at 6.5584)

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

  • The previous close was 6.5655
  • Reuters estimate from their survey was 6.5627, Bloomberg 6.5652 …. (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

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