CNH

PBOC is expected to set the USD/CNY reference rate at 7.2297 – Reuters estimate

• The rate will be set around 7.10

China has allocated 6.4bn yuan for vehicle trade-in subsidees

• China's Ministry of Commerce with the boost

China Caixin Manufacturing PMI for May 2024: 51.7 (expected 51.5, prior 51.4)

• Caixin / S&P Global Manufacturing PMI highest since June of 2022

PBOC sets USD/ CNY reference rate for today at 7.1086 (vs. estimate at 7.2378)

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

PBOC is expected to set the USD/CNY reference rate at 7.2378 – Reuters estimate

• The rate set will be around 7.10 as the PBoC continues to prop up the yuan

More on the disappointing China manufacturing PMI for May - fell back into contraction

• A three month low at 49.5

China May 2024 Official Manufacturing PMI 49.5 (expected 50.5)

• Poor data from China

PBOC sets USD/ CNY reference rate for today at 7.1088 (vs. estimate at 7.2383)

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

PBOC is expected to set the USD/CNY reference rate at 7.2383 – Reuters estimate

• The rate will be around 7.10

HSBC on recent China policy support, reason to tentatively buy mainland & Hong Kong stocks

• CSI been higher since February

PBOC sets USD/ CNY mid-point today at 7.1111 (vs. estimate at 7.2663)

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

PBOC is expected to set the USD/CNY reference rate at 7.2623 – Reuters estimate

• The rate will be around 7.11, the PBOC is battling to hold the yuan against the surging USD

More from IMF on China: Fiscal policy needs to reorient further to domestic consumption

IMF Deputy Managing Director sees scope for more policy to address China property sector

• Speaking in Beijing

The IMF has upgraded China's economic growth target to 5%, from 4.6%

• International Monetary Fund (IMF) citing a strong Q1