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Australia Says Doesn’t Need Russian Fuel After Trump Diesel Move
Safari Park Plan Sparks Fresh Wave of Resident Angst in Vietnam
Sequoia-backed Nuvacore seeks $2.5bn valuation in funding round - Reuters
Chinese camera rivals battle for dominance after GoPro’s decline
UAW leader reviled by Trump declares victory in reelection
Venezuela president authorizes SpaceX’s Starlink to operate in the country
KLEA Finance Daily: Friday, October 09, 2026
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People’s Bank of China Expected to Set USD/CNY Reference Rate at 6.7973
The People’s Bank of China (PBOC) is anticipated to announce its daily USD/CNY reference rate at 6.7973, a figure that has garnered significant attention in Asian currency markets. The PBOC publishes this rate around 0115 GMT, which has become increasingly important as the central bank shifts its approach from limiting the yuan's rise to allowing a gradual appreciation.
In recent weeks, the PBOC has adjusted the midpoint for the yuan's trading band upward for eight consecutive sessions, marking its longest streak since 2023. This adjustment has brought the onshore yuan to its strongest level since January 2023, while the offshore rate has reached its firmest since July 2022. Despite these gains, the fixing has still been set below market estimates, indicating that the central bank is cautiously managing the currency's appreciation.
Analysts from Goldman Sachs suggest that the recent firmer fixing may be linked to upcoming diplomatic engagements, specifically a summit between U.S. President Donald Trump and Chinese President Xi Jinping. They predict that Chinese policymakers will continue to favor steady and gradual gains for the yuan, balancing the need for capital stability against the potential impact on exporters amid a soft domestic economy.
© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: KLEA News