Another Yuan devaluation by the PBOC

FXStreet (Bali) - Following yesterday's Yuan devaluation - USD/CNY fix was highest since April 2011 -, today's PBOC USD/CNY mid-point came at 6.5646 vs yesterday's fix of 6.5314 and close at 6.555. PBOC to inject 70bn yuan via 7-day reverse repos today.

Jan 7, 2016

China A50 FTSE futures up 0.25%

China futures (A50 FTSE - benchmark for investors to access the China domestic market through A Shares – ) have opened UP BY 0.25% ahead of the Shanghai Composite cash open at 1.30 GMT.

EUR/USD supported on risk-off

EUR/USD is bid on the back of the Yuan fix and a weaker yuan again, which is not good for risk appetite. The US dollar is sharply lower across the Yen as the yen benefits from risk-off mood and cross flows support EUR/USD in this case.