China

China finance minister signals more proactive fiscal support amid rising uncertainty

• Beijing will adopt more proactive fiscal policies to help stabilise growth

PBOC sets USD/ CNY reference rate for today at 7.1511 (vs. estimate at 7.1891)

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

PBOC is expected to set the USD/CNY reference rate at 7.1891 – Reuters estimate

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

US-China trade war ceasefire extension talks started Monday, expected to continue Tuesday

• Both sides left the talks on Monday with nothing said to media

China to establish a preliminary nationwide unified power market by the end of the year

• China’s energy regulator also urging stronger oversight ahead of peak summer demand

PBOC sets USD/ CNY reference rate for today at 7.1467 (vs. estimate at 7.1653)

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

PBOC is expected to set the USD/CNY reference rate at 7.1653 – Reuters estimate

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

Industrial profits in China fell 4.3% y/y in June, following a 9.1% drop in May

• Data released on Sunday in China

U.S. and China will meet in Stockholm on Monday, 90 day extension expected

• Meeting is an effort to extend the August 12 trade deal deadline

Wall Street Journal: "Trump Is Shifting to Dealmaking Mode on China"

• WSJ says Trump wants to cement a deal, let's see how China responds.

Country Garden eases debt talks by meeting key bank demands

PBOC sets USD/ CNY reference rate for today at 7.1419 (vs. estimate at 7.1609)

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

PBOC is expected to set the USD/CNY reference rate at 7.1609 – Reuters estimate

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

Nvidia AI chip repair business booms in China despite U.S. ban

• Nvidia AI GPUs in China have been heavily used, leading to higher failure rates

U.S. Treasury’s Bessent says U.S. in pretty good place with China on trade

• Bessent speaking in a Fox Business interview