Chinese crude oil imports remained weak also in September – Commerzbank
Chinese crude oil imports remained weak in September, continuing a trend of sluggish demand from the world’s largest oil importer, according to a report from Commerzbank. The latest data reflects ongoing concerns about China’s slower-than-expected economic recovery, which has weighed on global energy markets. China’s weakened industrial output and tepid consumer demand have contributed to […]
NZD/USD plummets as disinflation fuels expectations of aggressive RBNZ rate cut
The New Zealand dollar (NZD) plunged against the US dollar on Wednesday as traders priced in a significant rate cut from the Reserve Bank of New Zealand (RBNZ) next month. This reaction follows weaker-than-expected inflation data, which confirms the ongoing disinflationary trend in New Zealand’s economy. The latest inflation report for the third quarter has […]
Chinese yuan slips as USD/CNH climbs amid chip export limits and Trump’s polling gains
The Chinese Yuan weakened significantly against the U.S. Dollar as the USD/CNH exchange rate surged to multi-month highs. This rise is driven by two major factors: China’s new chip export restrictions and growing political uncertainty surrounding former U.S. President Donald Trump’s increasing polling numbers ahead of the 2024 election. Tensions between China and the U.S. […]
AUD/USD drops and crude oil declines as China’s stimulus disappoints, Iranian headlines weigh on markets
The AUD/USD exchange rate and crude oil prices fell sharply after markets reacted to disappointing stimulus measures from China and rising geopolitical risks linked to Iran. Traders had been expecting more robust economic action from Beijing, but the lackluster response left the Australian dollar struggling against the U.S. dollar. As China is Australia’s largest trading […]
Avatrade extends sponsorship deal with UAE Pro League
AvaTrade has renewed its sponsorship agreement with the UAE Pro League, reinforcing its commitment to expanding brand visibility in the Middle East. This move is part of AvaTrade’s strategy to grow its presence in key markets, especially as interest in online trading continues to rise in the Gulf region. The deal gives AvaTrade access to […]
Small-cap stocks positioned for gains ahead of November election, according to Cantor Fitzgerald
Small-cap stocks are seen as primed for potential gains as the November election approaches, according to analysts at Cantor Fitzgerald. Investors are turning to smaller companies, which are often more adaptable to changing market conditions, particularly during periods of political uncertainty. Historically, small-cap stocks tend to outperform larger companies in the lead-up to elections, as […]
Australian Dollar receives downward pressure from economic uncertainty in China
Growing fears over the future of China’s economy are driving downward pressure on the Australian Dollar (AUD), which is now experiencing a decline. The state of China’s economy has a direct influence on the Australian dollar because China is Australia’s most important trading partner. There has been a recent increase in concern regarding a potential […]
New Zealand economy expected to rebound after rate cuts, Finance Minister Willis says
The New Zealand economy is expected to benefit from the central bank’s recent rate cuts, according to Finance Minister Willis. The cuts are intended to stimulate growth as the country navigates weak demand and struggles in the export market. Willis highlighted that the lower rates aim to reduce borrowing costs for businesses and consumers, encouraging […]
Japanese Yen might struggle to gain any meaningful traction amid BoJ uncertainty
Although there is a great deal of uncertainty surrounding the monetary policy of the Bank of Japan (BoJ), the Japanese yen is encountering considerable obstacles in its efforts to gain traction. Despite market expectations for a potential shift toward tightening, the Bank of Japan has maintained its ultra-loose monetary policy, causing investors to remain cautious, […]
PBOC sets USD/CNY reference rate at 7.0830 vs. 7.0723 previous
The reference rate for the United States Dollar to Chinese Yuan was established at 7.0830 by the People’s Bank of China (PBOC), slightly higher than the previous rate of 7.0723. This move reflects the PBOC’s efforts to maintain currency stability amid ongoing global market volatility. The central bank’s focus on managing the value of the […]