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<p>The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li>

<p>Japanese November inflation data is due on Friday, 22 December 2023.The sneak preview we get is the Tokyo area inflation for the month, that comes out about 3 weeks prior:</p><ul><li><a href="https://www.forexlive.com/news/tokyo-area-cpi-data-for-november-2023-comes-in-way-above-the-2-boj-target-rate-again-2023120

<p>People's Bank of China USD/CNY reference rate is due around 0115 GMT.</p><p>The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan

<p>I posted earlier on analysts at Morgan Stanley's Federal Open Market Committee (FOMC) forecast:</p><ul><li><a href="https://www.forexlive.com/centralbank/morgan-stanley-predict-the-federal-reserve-may-not-cut-interest-rates-until-june-20231220/" target="_blank" rel="follow" data-artic

<p> The UK Lloyds Bank Business Barometer is an indicator of business confidence. it fell in December to 35% from 42% in November. </p><ul><li>biggest monthly decline since August 2022</li></ul><p>November was 42%, a 21-month high. The survey's long-run average is 28%.</p><p>Lloyds Bank com

<p>Angola has been part of OPEC since 2007 and they alongside Congo and Nigeria, have failed to meet their respective output targets for years now. This resulted in pressure from Saudi Arabia to force them to accept lower output targets for next year. According to Reuters (citing independent sources from OPEC), Angola has been pumping [&helli

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/usdjpy-droops-back-towards-key-technical-level-lower-yields-also-weighing-20231221/">USD/JPY droops back towards key technical level, lower yields also weighing</a></li><li><a href="https://www.forexlive.com/centralbank

<ul><li>To also keep credit growth reasonable</li></ul><p>These are token remarks but it looks to be one to tee up deposit rate cuts by major state-owned banks in China as reported earlier <a href="https://www.forexlive.com/news/large-chinese-banks-reportedly-to-cut-deposit-rates-on-friday-20231221/" targe

<p>The squeeze on UK consumers continue as retailers are reporting a downturn in sales in December, adding to the gloomy outlook heading into next year. The expected sales reading for next month also fell sharply to -41, its weakest since the record low of -62 in March 2021. CBI notes that:</p><p>"Strained household finances

<p>USD</p><ul><li>The Fed <a href="https://www.forexlive.com/news/fomc-decision-no-change-to-rates-2024-median-dot-46-vs-49-expected-20231213/">left interest rates unchanged</a> as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. </li><l