Blogs

<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>Crypto media outlet <a href="https://cointelegraph.com/news/irs-crypto-tax-rules-transactions-over-10k-exempt" target="_blank" rel="nofollow">CoinTelegraph </a>with the info:</p><ul><li>United States businesses won’t yet need to report cryptocurrency transactions above $10,000 to

<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

<ul><li><a href="https://www.forexlive.com/centralbank/european-centralbank-president-largarde-speaks-wednesday-17-january-2024-villeroy-also-20240117/">European Central Bank President Largarde speaks Wednesday, 17 January 2024, Villeroy also</a></li><li><a href="https://www.forexlive.com/news/c

<p>Even though the data found in these posts is of importance for China's economic and policy outlook: </p><ul><li><a href="https://www.forexlive.com/news/china-q4-2023-gdp-52-yy-20240117/" target="_blank" rel="follow" data-article-link="true">China Q4 2023 GDP 5.2% y/y</

<p>Popular media in China (Global Times tabloid) with an upbeat report on the data from China earlier. The newspaper doesn't have much time for non-Chinese media:</p><ul><li>Despite factors including a slowdown in the real estate industry, China’s economy emerged from the shadows of the pandemic over the past 12 months,

<p>Data coming up on Wednesday, 17 January 2024 from the US includes December retail sales. </p><p>Preview here:</p><ul><li><a href="https://www.forexlive.com/news/goldman-sachs-what-we-expect-from-tomorrows-us-retail-sales-print-20240116/" target="_blank" rel="follow" data-articl

<p>China's economic 'activity' data for December 2023</p><p>Misses for retail sales and industrial output. </p><p>Investment came in better than (low) expectations:</p><ul><li>private sector fixed asset investment was -0.4% y/y while investment in infrastructure propped numbers up with

<p> China Q4 2023 GDP 5.2% y/y, a miss for the quarter</p><ul><li>expected 5.3%, prior 4.9%</li></ul><p>+1.0% q/q</p><ul><li>expected +1.0%, prior +1.5%</li></ul><p>For the full year 2023 +5.2%, satisfying the Chinese Communist Party target of 'around 5%'.</p

<p>New home prices in China continue to slide:</p><p>-0.4% m/m in December </p><ul><li>-0.3% in November </li></ul><p>-0.4% y/y</p><ul><li>-0.2% in November</li></ul><p>Reuters reports that</p><p>62 out of 70 cities with m/m falls in sales prices o