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Before market open, the People's Bank of China guided the yuan's mid-point fix to 6.6001 against the dollar to its lowest levels since January 2011. The on-shore yuan traded at 6.5981 against the greenback as of 10:06 a.m. HK/SIN, while offshore yuan traded at 6.6084 to the dollar. China's central bank lets the yuan spot rate rise or fall a maximum of 2 percent against the dollar, relative to the official fixing rate.
Housing Starts Plunge 14.7 Percent, Multi-Family Very Weak For a Year
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Housing starts plunged in March, but for the past year, it's really a tale
of two markets, single-family vs multi-family.
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