EUR/USD tumbles below 1.0550 as traders await ECB’s Lagarde speech, US PMI data
The EUR/USD currency pair extended its decline, falling below the 1.0550 level as markets braced for critical economic cues. Traders anticipate European Central Bank President Christine Lagarde’s speech, expected to provide insights into the ECB’s monetary policy stance amid economic challenges. Meanwhile, upcoming US PMI data could offer a fresh perspective on economic activity stateside, […]
China’s Caixin Manufacturing PMI jumps to 51.5 in November vs. 50.5 expected
China’s manufacturing sector showed unexpected resilience in November, as the Caixin Manufacturing PMI climbed to 51.5, exceeding forecasts of 50.5. This marks a significant improvement from October’s reading of 49.9, signaling a return to expansion and boosting optimism for the world’s second-largest economy. The stronger-than-expected data reflect recovering demand and enhanced production output, suggesting stabilization […]
US Bitcoin, Ether ETFs Log Record Inflows on Trump’s Embrace of Crypto
Exchange-traded funds (ETFs) linked to Bitcoin and Ether have seen a surge in inflows following former President Donald Trump’s unexpected embrace of cryptocurrencies. The record-breaking capital influx marks a turning point for digital assets, reinforcing optimism about broader adoption in the financial landscape. Analysts attribute the increase to Trump’s recent remarks, which highlighted the potential […]
Oil inches up on upbeat China data, shaky Israel-Lebanon ceasefire
Oil prices rose slightly on signs of economic strength in China, the world’s largest oil importer, but gains were tempered by uncertainty surrounding the fragile ceasefire between Israel and Lebanon. Optimism emerged as recent data revealed stronger-than-expected Chinese factory activity, fueling hopes of sustained energy demand despite global economic concerns. The geopolitical tension in the […]
GBP/USD retreats from multi-week top, slides below 1.2700 on stronger USD
The GBP/USD pair reversed its upward trajectory on Friday, retreating from a multi-week high as the US Dollar strengthened. The pair slid below the critical 1.2700 level during the European session, weighed down by robust US economic data and rising Treasury yields, which bolstered the greenback’s appeal. Market sentiment shifted as investors digested recent data […]
Gold Slips as Trump’s BRICS Currency Warning Boosts US Dollar
Gold prices declined as the US dollar strengthened, following comments by former President Donald Trump warning against potential impacts of a proposed BRICS currency. The dollar’s rally dented the appeal of non-yielding assets like gold, highlighting heightened sensitivity in the global commodities market. Trump’s remarks underscored concerns that a unified BRICS currency could weaken the […]
BoJ’s Ueda: Wage trends key to possible rate hike
The Bank of Japan’s (BoJ) Governor, Kazuo Ueda, emphasized that wage growth remains a critical factor in determining future monetary policy adjustments, including a potential rate hike. Speaking at a recent economic forum, Ueda noted that sustainable wage increases are vital to achieving the BoJ’s inflation target of 2%, signaling that the central bank’s ultra-loose […]
PBOC sets USD/CNY reference rate at 7.1865 vs. 7.1877 previous
China’s central bank, the People’s Bank of China (PBOC), has adjusted the USD/CNY reference rate to 7.1865, marginally lower than the previous rate of 7.1877. This move aligns with Beijing’s ongoing efforts to stabilize the yuan amid global currency fluctuations and persistent economic pressures. The modest adjustment comes as market participants closely monitor the PBOC’s […]
Japanese Firms Boost Capex in Sign of Confidence Holding Up
Japan’s corporate capital expenditures surged by 8.1% year-on-year in the third quarter, signaling robust domestic demand and bolstering the nation’s economic recovery. This uptick in business investment is expected to positively influence the revised GDP figures scheduled for release on December 9. The preliminary data had indicated a 0.9% annualized GDP growth for the same […]
Oil Edges Higher With Focus on China’s Economy, OPEC+ Meeting
Oil prices climbed on Monday, buoyed by optimism surrounding China’s economic performance and market speculation ahead of the OPEC+ meeting. Investors are closely watching Beijing’s latest signals of economic resilience, as a recovery in the world’s second-largest economy is expected to support global oil demand. Analysts point to recent factory activity data and consumer sentiment […]