• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

PBOC sets USD/ CNY reference rate for today at 6.9160 (vs. estimate at 6.9686)

Started by forex4you, Sep 07, 2022, 07:11 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

PBOC sets USD/ CNY reference rate for today at 6.9160 (vs. estimate at 6.9686)

<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><p class="text-align-start vertical-align-baseline">I posted this yesterday as some background to today's mid-rate setting:</p><ul class="text-align-start vertical-align-baseline"><li><a href="https://www.forexlive.com/centralbank/ahead-of-the-yuan-rate-setting-from-the-pboc-a-reminder-of-the-move-to-limit-its-downside-20220906/" target="_blank" data-article-link="true" class="article-link">Ahead of the yuan rate setting from the PBoC, a reminder of the move to limit its downside</a></li></ul><p>and this:</p><ul><li><a href="https://www.forexlive.com/centralbank/the-estimate-for-the-pboc-usdcny-mid-rate-setting-today-is-69686-20220907/" target="_blank" data-article-link="true">The estimate for the PBOC USD/CNY mid rate setting today is 6.9686</a></li></ul><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li><li>A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.</li><li class="vertical-align-baseline">The previous close was 6.9545</li></ul><ul><li>The reference rate is a good way from that estimate (furthest ever it appears), the PBOC trying to slow the devaluation of the yuan. This is eleven consecutive days now the Bank has held the CNY stronger than the estimate.</li></ul><p class="text-align-start vertical-align-baseline">more to come</p><ul><li><p>
The
PBOC injects 2 yuan via 7-day reverse repos (rate remains at
2.0%)

2bn yuan mature today
thus a net neutral in
OMOs today</p>
</li></ul><p class="text-align-start vertical-align-baseline"> eur</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: PBOC sets USD/ CNY reference rate for today at 6.9160 (vs. estimate at 6.9686)

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com