CNH

China October exports -6.4% y/y (expected -3.3%) & imports +3% y/y (expected -4.8%)

• Those are in US dollar terms

PBOC sets USD/ CNY central rate at 7.1776 (vs. estimate at 7.2854)

PBOC is expected to set the USD/CNY reference rate at 7.2854 – Reuters estimate

• Expect the rate to be set somewhere around 7.17

China - PBOC lowered the interest rate of existing mortgage loans

China should and will accelerate the issuance and use of government bonds

Offshore yuan (CNH) is hitting a 3 week high

PBOC sets USD/ CNY reference rate for today at 7.1780 (vs. estimate at 7.2868)

PBOC is expected to set the USD/CNY reference rate at 7.2868 – Reuters estimate

China's October Caixin Manufacturing PMI 49.5 (vs. 50.8 expected)

PBOC sets USD/ CNY reference rate for today at 7.1778 (vs. estimate at 7.3327)

PBOC is expected to set the USD/CNY reference rate at 7.3327 – Reuters estimate

• The actual reference rate will be a lot lower than this modelled estimate, somewhere around 7.17

China says it will set up a system to resolve its local government debt risks

China Oct PMIs: Manufacturing 49.5 (expected 50.2) Non-manufacturing 50.6 (expected 51.8)

• October 2023 official Chinese PMIs from the National Bureau of Statistics (NBS)

PBOC sets USD/ CNY mid-point today at 7.1779 (vs. estimate at 7.3024)

PBOC is expected to set the USD/CNY reference rate at 7.3024 – Reuters estimate

• You can expect the actual reference rate to be set around 7.17