USD/CNH ignores downbeat China yields to flirt with 6.8950, PBOC vs. Fed divergence, US inflation eyed – by anilpanchal7 USDCNY PBOC Fed Inflation Growth
pair signals the cautious mood ahead of the US Consumer Price Index for March and the Minutes of the latest Federal Open Market Committee Monetary Policy Meeting.
China’s headline 10-year Treasury bond yields drop to the lowest levels since November 2022, to 2.815% by the press time, as traders brace for further easing from the People’s Bank of China , especially after the previous day’s downbeat inflation. That said, China’s headline inflation numbers for March, namely the and Producer Price Index , came in 0.7% YoY and -2.5% YoY versus 1.0% and -1.4% respective priors.
Elsewhere, hopes of easy inflation in the US could be witnessed in the latest Fed talks as President and CEO of the Federal Reserve Bank of Minneapolis Neel Kashkari teases US Dollar bulls as he said, “2% inflation target should not be changed.” President Patrick Harker said that the Federal Reserve will continue to look closely at available data to determine what, if any, additional actions they may need to take.
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