PBOC is anticipated to set the USD/CNY reference rate at 6.6799 – Reuters estimate

The People's Bank of China is owing to set the daily USD/CNY reference rate at roughly 0115 GMT (2115 US Eastern time), a fixing that is still one of the most closely watched signals in Asian foreign exchange markets, according to investingLive. Once the midpoint is unveiled, onshore USD/CNY is free to trade within the allowable band.

USD/CNY: the details

The midpoint is not a purely mechanical calculation, allowing rate-setters discretion to guide market expectations. Consequently, the daily fixing is often interpreted as a policy signal not just a technical reference point.

Why USD/CNY matters for traders

China is the world's largest commodity importer, so its growth outlook and policy decisions affect metals, oil and the currencies of trading partners such as Australia and New Zealand.

Stimulus measures or weak data from China can quickly shift sentiment in Asian markets, industrial commodities and the Australian dollar.

Market reaction and data

On the currency side, the latest ECB daily reference rates (2026-11-06) show EUR/USD 1.1165, GBP/USD 1.3385, AUD/USD 0.6871, NZD/USD 0.5544, USD/JPY 158.33, USD/CHF 0.8189, USD/CAD 1.4066, USD/CNY 6.6713. These are reference fixes, not live quotes.

What to watch next for USD/CNY

Watch for Chinese activity data, policy support announcements from Beijing and moves in the yuan and commodity-linked currencies.

Key scheduled releases on the economic calendar:

• USD Core CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.2%, previous 0.3%
• USD CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.3%, previous 0.6%
• GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
• USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
• USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%

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FAQ

What is the latest USD/CNY news?

The People's Bank of China is owing to set the daily USD/CNY reference rate at roughly 0115 GMT (2115 US Eastern time), a fixing that is still one of the most closely watched signals in Asian foreign exchange markets.

Why does China matter for forex traders?

China's demand for raw materials and its trade links make its economy a key driver for commodity currencies like the Australian and New Zealand dollars.

Where does this information come from?

This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.