China

PBOC sets USD/ CNY reference rate for today at 7.1729 (vs. estimate at 7.1916)

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

PBOC is expected to set the USD/CNY reference rate at 7.1916 – Reuters estimate

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

Putin says Russia will conduct military drills with China this year

• Axis powers Russia and China will conduct joint drills. Iran is otherwise engaged I guess.

China FX regulator says will keep yuan basically stable at reasonable and balanced levels

• China’s State Administration of Foreign Exchange (SAFE)

Chinese officials says consumption has become China’s biggest growth engine

• China has become the largest consumer of cars, mobile phones, and home Appliances

PBOC sets USD/ CNY mid-point today at 7.1761 (vs. estimate at 7.2027)

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

PBOC is expected to set the USD/CNY reference rate at 7.2027 – Reuters estimate

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

PBOC sets USD/ CNY central rate at 7.1746 (vs. estimate at 7.1820)

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

PBOC is expected to set the USD/CNY reference rate at 7.1820 – Reuters estimate

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

Chinese embassy in Israel advises Chinese citizens to leave Israel ASAP

• Recommends citizens to leave via land crossing towards Jordan

China to hold a NPC Standing Committee meeting June 24 to 27

China refuses to approve exports of specific rare earth metals used in US weapon systems

• The question of military-use rare earth exports is unresolved

China stats spokesperson: Economic recovery foundation needs strengthening

• China National Bureau of Statistics (NBS) spokesperson

China Industrial Output May 2025 +5.8% y/y (expected 5.9%, prior +6.1%)

• Chinese retail sales and investment data published also

All China May new home prices -3.5% y/y (April -4.0%)

• -0.2% m/m (April 0%)