Chinese market foreign exchange rate today and AUD/USD affected by RBA decision news.

[somrat4030]

Forex Forum Currency Exchange Rate In China Today​

The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Tuesday by the China Foreign Exchange Trade System:

Currency Unit Central parity rate in yuan by forex forum​

U.S. dollar 100 637.38

Euro 100 719.13

Japanese yen 100 5.6181

Hong Kong dollar 100 81.723

British pound 100 845.17

Australian dollar 100 448.96

New Zealand dollar 100 430.16

Singapore dollar 100 465.64

Swiss franc 100 688.79

Canadian dollar 100 499.36

Malaysian ringgit 66.386 100

Ruble 1,166.88 100

Rand 249.57 100

Korean won 18,540 100

UAE dirham 57.627 100

Saudi riyal 58.86 100

Hungarian forint 5,083.84 100

Polish zloty 63.859 100

Danish krone 103.40 100

Swedish krona 142.70 100

Norwegian krone 142.68 100

Turkish lira 216.65 100

Mexican peso 333.27 100

Thai baht 531.05 100

You can learn the proper news about currency pairs at forex forum.

However, The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

The central parity rate of the yuan against the Hong Kong dollar is based on the central parity rate of the yuan against the U.S. dollar and the exchange rate of the Hong Kong dollar against the U.S. dollar at 9 a.m. in international foreign exchange markets on the same business day.

Sourhere: Click here

On the other hand, Alike every first Tuesday of the month, the Reserve Bank of Australia (RBA) is up for conveying the latest monetary policy meeting and Interest Rate Decision around 03:30 AM GMT.​

The RBA is expected to keep the benchmark interest rate unchanged around 0.10% and mark no changes to its weekly bond purchase of $40 billion.

The recent weakness in the Aussie Q3 inflation data and firmer Wage Price Index seems to help the policymaker to maintain the status quo.

Source: Click here

How could the RBA decision affect AUD/USD? Know with forex forum.​

AUD/USD pokes intraday high around 0.7055 ahead of the key RBA decision during early Tuesday. The Aussie pair seems to brace for the RBA's likely downbeat comments amid cautiously optimistic markets. It should, however, be noted that Australia Health Minister Greg Hunt recently cheered the nation's covid vaccine jabbing and hence hints at the firmer RBA statement.

That said, AUD/USD traders are likely to pay little attention to the RBA verdict unless the central bank cites any major catalysts or hints at February tapering of the bond purchases. Even so, optimism towards the national vaccination program may help the pair to keep the latest gains after the monetary policy decision.

Technically, AUD/USD keeps the bounce off November 2020 bottom amid oversold RSI conditions. However, the corrective pullback remains inside a five-week-old descending trend channel. While August 2021 bottom around 0.7105 lures short-term buyers ahead of the event, a convergence of the 10-DMA and upper line of the stated channel, near 0.7125, becomes a tough nut to crack for the bulls.

For learn more about forex trading and latest forex news always visit forum.forex

Thank You ?

 

[somrat4030]

The People's Bank of China (PBOC) said on Monday it will cut the reserve requirement ratio for major commercial banks by 0.5 percentage points, releasing 1.2 trillion yuan (US$188 billion) worth of long-term liquidity into the interbank system on December 15 to shore up the economy.

But the Chinese central bank has previously been cautious about monetary easing, with officials saying monetary policy would remain prudent and downplaying the impact of developer Evergrande's debt crisis.

However, economic pressure has been mounting for China after its strong post-pandemic rebound in the first quarter of this year. China's economy grew by 4.9 per cent in the third quarter of 2021 compared with a year earlier, down from the 7.9 per cent growth in the second quarter.

You can learn more about forex trading and getting latest news updates at forum.forex

Thank You