VOT Research Desk
The one-year MLF volume was set at 650B vs. 2.75B, while the People’s Bank of China left the China one-year MLF rate at 2.75% (approx. (est 500.0B; prev 850.0B).
A crucial level of support for the USD/CNY is under pressure:
The People’s Bank of China is anticipated to continue its easing program despite China’s deteriorating economic situation.
The reserve requirement ratio for banks was reduced last month, giving them greater funds to make loans.
The two categories of data that will be eagerly examined today are industrial production and retail sales.
