Asia Market Movers: CNY and CNH traders, why today's reference rate saw the biggest gap in nearly 3 years

Thursday, 04 Dec, 2025 Central Banks CNY and CNH traders, why today's reference rate saw the biggest gap in nearly 3 years China has delivered its strongest signal in nearly three years that it wants to moderate the yuan's appreciation, setting Wednesday's daily reference rate sharply weaker than market expectations. We g Stock market update SGX rejects report of talks to buy Cboe Australia after AFR acquisition claim Singapore Exchange (SGX) is pushing back against a report that it is exploring a takeover of Cboe Global Markets' Australian business. The Australian Financial Review (AFR) earlier reported that SGX h Learn more Central Banks PBOC sets USD/ CNY reference rate for today at 7.0733 (vs. estimate at 7.0554) Earlier: Yuan nears 7 as US–China thaw lifts sentiment, but PBOC slows pace of appreciation The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of th News Australian October trade balance a surplus of 4385mn (expected 4219mn) Australian Household Spending in October 2025 +1.3% m/m expected +0.6%, prior +0.3% +5.6% y/y expected +4.6%, prior +5.1% --- Trade Balance in October 2025 AUD4385mn expected 4219mn, prior 3938mn Impo News Tesla UK sales drop 19% as Chinese EV rivals surge and market demand cools Tesla's UK sales dropped sharply in November, with registrations falling 19% year-on-year to 3,784 units, according to preliminary data from research group New AutoMotive. The decline follows an even Central Banks PBOC is expected to set the USD/CNY reference rate at 7.0554 – Reuters estimate Earlier: Yuan nears 7 as US–China thaw lifts sentiment, but PBOC slows pace of appreciation --- People's Bank of China USD/CNY reference rate is due around 0115 GMT. The People's Bank of China (PBOC), Commodities Oil traders note: Maduro confirms phone contact with Trump, hint of diplomatic thaw Venezuelan President Nicolás Maduro said on Wednesday that he spoke with U.S. President Donald Trump roughly 10 days ago, describing the exchange as "respectful and cordial." His comments mark the fir Central Banks Yuan nears 7 as US–China thaw lifts sentiment, but PBOC slows pace of appreciation The yuan is edging toward the closely watched 7-per-dollar level, lifted by improving US–China relations and a softer dollar, though the speed of its rise suggests Beijing is carefully managing the ap Learn more Commodities Chevron sets $18–19bn 2026 capex, prioritising US shale and Guyana offshore growth Chevron has set its 2026 capital-spending budget at $18–19 billion, the low end of its previously guided $18–21 billion range through 2030, as the company focuses on high-return upstream growth in the

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