CNY

Wednesday 11 May 2022 - Before the eagerly awaited US CPI we'll get China CPI data

US President Biden to review Trump's China tariffs, view to drop them to lower inflation

Chinese yuan recovers some poise on the day

• USD/CNY falls back below 6.70

China’s fourth-largest developer (by sales) is approaching a possible default

Reports the US is weighing ban on companies selling advanced chipmaking equipment to China

Tesla has halted production its Shanghai plant

PBOC sets USD/ CNY central rate at 6.7134 (vs. estimate at 6.7086)

• The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

BlackRock sees a 'rapidly worsening' outlook for China's economy - downgrades equities

Eyes are on US CPI data this week - but China inflation data is also due

China April trade data. Yuan terms Exports +1.9% y/y & Imports -2% y/y.

Yuan forecasts: CNY6.35 and CNY6.15 at end-2022 and 2023 respectively, readily achievable

Some Chinese trade data dribbling out. YTD yuan-term exports +10.3% y/y, imports +5%

USD/CNY traded to the lowest for the onshore yuan since November of 2020

PBOC sets USD/ CNY reference rate for today at 6.6899 (vs. estimate at 6.6950)

• The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

China trade data due today - preview (exports expected to take a hit due to COVID-19)