| Commentary

Become a contributor

Bookmark Econotimes

| Commentary

Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated

Bank Indonesia keeps key interest rate on hold at 3.75 pct

Fed Just Pulled the Plug on QT: $2.4 Trillion Liquidity Brake Slammed Off – Bitcoin & Crypto Party Starts Now

Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows

All Eyes on the Fed’s Message: Cut Today, Path Tomorrow

Malaysian headline inflation falls further in October, likely to remain negative in 2020

FxWirePro: Daily Commodity Tracker - 21st March, 2022

U.S. Q3 economic growth unrevised in second estimate

U.S. weekly jobless claims unexpectedly decrease

BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025

Canada's economy shows growth in July, but growth stalled in

Philippine central bank keeps interest rate unchanged at 2 pct

U.S. House prices increase slightly in July

BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited

U.S. Consumer Confidence falls in September

Taiwanese money supply continues to see strong growth, CBC likely to keep rates on hold in December

U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4

©Econometrics LLC . All Rights Reserved.

PBoC set CNY fixing rates lower again

Wednesday, August 12, 2015 7:39 AM UTC

PBoC spiked the USD-CNY fixing rate by another 1008pips, or 1.62% this morning to 6.3306. The fixing rate is 0.09% weaker than yesterday's closing. The offshore CNH breached above 6.50 this morning after the CNY fixing, notes Commerzbank.

In this case, the CNY-CNH spread widened to around 1.3%. Today's CNY fixing rate appears in line with PBoC's statement that it would promote the market-oriented fixing rate mechanism.

IMF also stated this morning that a more market-determined exchange rate would facilitate SDR operations in case the renminbi were included in the currency basket going forward, states Commerzbank. As the CNY weakens sharply, Asian currencies are still under pressure, with Bloomberg Asia currency index falling by roughly 1% overnight.

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts

Market Data

BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout

FxWirePro- Major Crypto levels and bias summary

ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout

Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

BOJ Rate Hike Looms: Yen Carry Unwind Threatens 20-30% Bitcoin Plunge

OpenAI Explores Massive Funding Round at $750 Billion Valuation

Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools

FxWirePro- Key Crypto Updates

EconoTimes

Disclaimer: EconoTimes provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and EconoTimes specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Brokerage. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. EconoTimes expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

PBoC set CNY fixing rates lower again

Editor's Picks

Welcome to EconoTimes