CNY

ICYMI - China's home sales fell 26% compared with the same period last year (NY holiday)

• Sales fell 50% in smaller cities

PBOC is expected to set the USD/CNY reference rate at 7.1512 – Reuters estimate

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

China reports a strong surge in travel over the New Year 3 day holiday

• 128 million passenger trips were made on China's transport network, up 78.4% from 2023

China Caixin Manufacturing PMI for December 50.8 (expected 50.3)

• Output and new orders both increase at quicker rates

PBOC sets USD/ CNY reference rate for today at 7.0770 (vs. estimate at 7.0971)

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

PBOC is expected to set the USD/CNY reference rate at 7.0971 – Reuters estimate

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

China's official NBS Manufacturing PMI disappointed in December - will Caixin do the same?

• Preview of today's Caixin/S&P Global Manufacturing PMI for December

China Dec Manufacturing PMI 49.0 (vs. 49.5 expected) & Services 50.4 (50.5 expected)

• This is the third consecutive month of contraction for the manufacturing PMI

China's National People's Congress will be underway on 5 March next year

• This is the biggest meeting among parliamentary members and politicians to discuss key matters involving the Chinese economy

China's 'state planner' on measures to expand domestic demand, promote stable growth

• China's National Development and Reform Commission

China's November Industrial Profits rebound with 29.5% y/y Growth

• A glimmer of recovery from weakened demand amid stumbling lockdown recovery.

Goldman Sachs' view on China for the year ahead is not confidence inspiring

• But on emerging markets ex-China, favourable macro may lead to a positive total return

PBOC sets USD/ CNY reference rate for today at 7.0953 (vs. estimate at 7.1306)

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

Bank of China has cut rates on some yuan deposits (NOT PBOC!)

PBOC is expected to set the USD/CNY reference rate at 7.1306 – Reuters estimate

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