China

Elon Musk met Premier Li Qiang in an unannounced trip to China

• Musk wants data from China sent to the US

Chengdu (major city in southwest China) has removed home-buying curbs

• Effort to boost demand and prop up the property sector

Chinese brokerage CICC cutting investment banking base pay by 25%

• Economic woes in China hitting onshore executives at China International Capital Corp

PBOC sets USD/ CNY reference rate for today at 7.1058 (vs. estimate at 7.2472)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.2472 – Reuters estimate

• The rate the Bank sets will likely be on the 7.10 big figure

Latest China crackdown ICYMI - brokers told to limit exposure to "snowball" derivatives

• China ramping up regulation of these derivatives products.

Why the stronger yuan might prompt a PBOC rate cut

• The CNY is strengthening, just not against the US dollar

PBOC sets USD/ CNY mid-point today at 7.1048 (vs. estimate at 7.2363)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.2363 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

UBS is dialling back plans in China - high costs, poor profit outlook

China finance ministry has said it is in favor of the PBOC resuming trading Treasury bonds

• Would help boost liquidity in the economy

China acquired recently banned Nvidia chips in Super Micro, Dell servers

• Reuters with the info

US drafting sanctions threaten to cut some Chinese banks off from global financial system

• Wall Street Journal report on US targeting Chinese banks aiding Russia's war on Ukraine

PBOC sets USD/ CNY central rate at 7. 1059 (vs. estimate at 7.2437)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.2437 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.