PBOC injects CNY500 billion via one-year MLF at 2.95%

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) injected CNY500 billion via one-year medium-term lending (MLF) facility on Friday.

The Chinese central bank kept the rate for the one-year MLF operation unchanged for the ninth month in a row at 2.95%.

The central bank rolled over earlier MLF, TMLF with CNY500 billion MLF operations.

Market reaction

USD/CNY bounced-off low at 6.4665 following the latest PBOC operation. The spot erases gains to trade flat at 6.4699, at the time of writing.

Meanwhile, the AUD/USD pair holds the lower ground near 0.7770 amid risk-off market mood and dismal Chinese home prices.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.