China

China's PMIs for September will be released during the long holiday over the weekend

PBOC is expected to set the USD/CNY reference rate at 7.3239 – Reuters estimate

• The reference rate will be set well below this model estimate. Lately its been stuck on the 7.17 big figure.

Nomura raises China GDP forecast (yes, raise). BoA sees green shoot in China profit data.

Nomura raises China GDP forecast to 4.8%

• An important signal

China has placed the Chairman of troubled property firm Evergrande 'under police control'

China state banks intervening to sell USD/CNY

• Yuan support via spot market intervention

China August Industrial Profits -11.7% YTD y/y (prior -15.5%)

People's Bank of China says it'll accelerate macro policy adjustments

PBOC sets USD/ CNY central rate at 7.1717 (vs. estimate at 7.3103)

Add this to the economic calendar for today - China Industrial Profits for August

PBOC is expected to set the USD/CNY reference rate at 7.3103 – Reuters estimate

• The actual rate will be a thousand points plus under this model estimate. The PBOC is sitting on USD/CNY very heavily indeed.

More on China's banning a senior Nomura executive from leaving the country

Ex-PBOC Adviser says China’s property market could take as long as a year to recover

PBOC sets USD/ CNY reference rate for today at 7.1727 (vs. estimate at 7.3174)

PBOC is expected to set the USD/CNY reference rate at 7.3174 – Reuters estimate