Chinese Industrial Profits data for June 2023: -8.3% y/y (prior -12.6%)

<p>For the YTD, -16.8% y/y</p><ul><li>prior -18.8%</li></ul><p>A little earlier we had the People's Bank of China set the CNY stronger than expected again today:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-71265-vs-estimate-at-71468-20230727/" target="_blank" rel="follow" data-article-link="true">PBOC sets USD/ CNY reference rate for today at 7.1265 (vs. estimate at 7.1468)</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.