Early Wednesday morning in Asia, China’s Xinhua News Agency came out with the news quoting statements from the People’s Bank of China (PBOC) as it unveiled details of quarterly monetary policy committee held Friday. “China will implement a prudent monetary policy that is flexible, precise, reasonable and moderate, and keep it consistent, stable and sustainable,” said the PBOC, per the news. The PBOC also vowed further monetary support for the real economy, stressing more financial aid for small and micro firms as well as those involved in technological innovation and green development. Additionally, the statement mentioned that the PBOC will use a variety of monetary tools to ensure liquidity at a reasonable and ample level and keep the growth of money supply and social financing basically in line with nominal economic growth and maintain a stable macro leverage ratio. In a different story, quoted by Reuters, China’s National Bureau of Statistics revised down 2019 gross domestic product (GDP) from 6.1% previous estimation to 6.0%. FX implications Against this backdrop, USD/CNY stays on the back foot around the intraday low of 6.5244, currently down 0.09% to 6.5250. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD pierces 0.7640 resistance despite virus woes, US paycheck troubles FX Street 1 year Early Wednesday morning in Asia, China’s Xinhua News Agency came out with the news quoting statements from the People’s Bank of China (PBOC) as it unveiled details of quarterly monetary policy committee held Friday. “China will implement a prudent monetary policy that is flexible, precise, reasonable and moderate, and keep it consistent, stable and sustainable,” said the PBOC, per the news. The PBOC also vowed further monetary support for the real economy, stressing more financial aid for small and micro firms as well as those involved in technological innovation and green development. Additionally, the statement mentioned that the PBOC will… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
