While all eyes will be glued to the data avalanche unleashed by China's 'official' data creators in an hour, offshore Yuan is fading modestly, giving back half of the regulatory shift gains. PBOC injects another CNY155 billion and holds the Yuan fix 'steady' for the 8th day. Finally on the somewhat bright side following the CSRC shief's resignation, Shanghai margin debt has dropped for the 12th day in a row - the longest streak in 4 months.
PBOC fixed YUan "stable" for the 8th day in a row but injects Yuan 155 billion for good measure... The People’s Bank of China will inject 80b yuan into the banking system using 7-day reverse repurchase agreements, and 75b yuan via 28-day reverse repo today, according to traders at primary dealers required to bid at the auctions.
Offshore Yuan just can't extend gains on the back of China's latest attempt to squeeze shorts...
Meanwhile in what is relatively good news for the world's sanity:
*SHANGHAI MARGIN DEBT POSTS LONGEST LOSING STREAK IN FOUR MONTHS
The outstanding balance of Shanghai margin debt dropped for 12th consecutive day on Monday, matching longest losing streak ended on Sept. 2.
Balance fell 0.3%, or 1.47b yuan, to 584b yuan for the lowest level since Oct. 9
Which likely explains why the CSRC head quit - they lost the bubble! Luckily there is one still standing...
Eyes down for +6.9% GDP growth...
Charts: Bloomberg