PBOC sets USD/CNY reference rate at 7.1982 vs. 7.1910 previous
The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1982, marking a slight increase from the previous rate of 7.1910. This adjustment reflects Beijing’s efforts to balance currency stability with the broader economic pressures stemming from global monetary tightening and domestic recovery challenges. This move comes as the yuan faces persistent […]
AUD/NZD dives to one-week low, around 1.1030 after RNBZ’s expected 50 bps rate cut
The AUD/NZD pair dropped to its lowest level in a week, trading near 1.1030, following the Reserve Bank of New Zealand’s (RBNZ) widely anticipated 50 basis points rate cut. The central bank’s decision aligns with market expectations as policymakers aim to address economic pressures, but the size of the cut still prompted a sharp reaction […]
Australia’s monthly CPI inflation steadies at 2.1% YoY in October vs. 2.3% expected
Australia’s inflation data for October showed signs of moderation, with the monthly CPI rising 2.1% year-on-year, undershooting the expected 2.3%. This marks a slight cooling in consumer price growth, suggesting the Reserve Bank of Australia’s (RBA) recent policy tightening may be taking effect. The softer-than-anticipated inflation figure could provide the RBA with more flexibility as […]
WTI recovers above $68.50 on a large surprise crude draw
West Texas Intermediate (WTI) prices surged past $68.50, fueled by an unexpected drop in U.S. crude inventories. The latest data revealed a significant decline in stockpiles, exceeding market forecasts and sparking renewed optimism in oil demand recovery. This surprising inventory draw comes as markets weigh the impact of slowing global economic activity against resilient U.S. […]
BoE’s Lombardelli: More evidence needed before next rate cut
The Bank of England’s Chief Economist, Megan Lombardelli, stated that additional evidence is required before considering a rate cut, highlighting ongoing concerns about inflation and economic stability. Speaking on the state of monetary policy, Lombardelli emphasized the need for more clarity on price trends and labor market resilience before altering the Bank’s stance. While the […]
Trump to name Jamieson Greer as US trade representative – Bloomberg
Former President Donald Trump plans to name Jamieson Greer, a seasoned trade lawyer, as his pick for U.S. Trade Representative, according to sources familiar with the matter. Greer, who previously served as Chief of Staff at the U.S. Trade Representative’s office under the Trump administration, is expected to play a pivotal role in shaping trade […]
EUR/USD flattens near 1.05 in the run-up to EU inflation figures
The EUR/USD pair held steady near the 1.05 level ahead of the release of key EU inflation data, reflecting cautious sentiment among traders. Market participants are closely watching the figures for any indications that could guide the European Central Bank’s (ECB) monetary policy decisions. The pair’s recent lack of momentum comes after a series of […]