The seven-day deposit reverse repo average across China's interbank market was at 1.8205% on Friday, lower than the close of 1.8268% on Thursday, according to Wind Information. The overnight deposit reverse repo average was last at 1.5137%, higher than the previous 1.3904.
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AUD/USD is down ~0.9% last printing at $0.6620/30 after May CPI fell to 5.6% Y/Y, a print of 6.1% had been expected, the prior read was 6.8%.
ACGB richened as much as 7bp after May’s CPI Monthly data misses, printing 5.6% y/y versus expectations of 6.1%. April’s reading was 6.8% y/y. Futures have subsequently reversed a portion of those gains to be 3-4bp richer post-data (YM +7.0 XM +5.5).
The latest round of ACGB Jun-51 supply sees the weighted average yield print 0.2bp through prevailing mids (per Yieldbroker), extending the recent trend of pricing at ACGB auctions.