RBNZ’s Orr: Projections consistent with 50 bps in Feb depending on activity
The Reserve Bank of New Zealand (RBNZ) has indicated that its current projections align with a 50 basis points (bps) hike in February, conditional on economic activity. Governor Adrian Orr underscored this stance following the central bank’s decision to maintain the official cash rate at 5.5%, reinforcing the focus on inflation and labor market dynamics. […]
New Zealand Dollar rises following the RBNZ 50 bps interest rate cut
The New Zealand dollar unexpectedly strengthened after the Reserve Bank of New Zealand (RBNZ) implemented a 50 basis points interest rate cut, taking the official cash rate to 4.25%. While the market anticipated some easing, the aggressive nature of the cut initially sparked concerns about the central bank’s outlook on economic challenges. Currency traders, however, […]
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 […]
Ripple’s XRP sees decline as realized profits reach record levels
Ripple’s XRP experienced notable selling pressure as realized profits among holders reached unprecedented levels. This profit surge has led to increased selling activity, pushing XRP’s price lower in recent trading sessions. The cryptocurrency, often associated with rapid price movements, saw its momentum weaken as investors capitalized on gains following recent market upswings. The heightened profit-taking […]
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 […]
Bitcoin remains short of $100K as long-term holders capitalize on recent price rise
Bitcoin’s recent rally has been tempered as its price remains below the anticipated $100,000 mark. Market data reveals that long-term holders have begun liquidating positions, capitalizing on the cryptocurrency’s price surge. This profit-taking has introduced resistance at higher price levels, stalling the momentum of the flagship cryptocurrency. The rally, fueled by optimism around institutional adoption […]
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 […]
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 […]
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. […]