PBOC sets USD/CNY reference rate at 7.1848 vs. 7.1879 previous
The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1848, marking a slight strengthening from the previous level of 7.1879. This adjustment reflects a continued effort by Beijing to manage its currency amid broader economic pressures and fluctuating global demand. Analysts interpret the move as part of a broader strategy to […]
Australian Dollar softens ahead of US NFP release
The Australian Dollar (AUD) weakened on Thursday as investors adjusted positions ahead of the highly anticipated U.S. Non-Farm Payrolls (NFP) report. The AUD lost ground against the U.S. Dollar amid cautious market sentiment, reflecting concerns over potential signals of economic resilience in the U.S. that could influence the Federal Reserve’s policy trajectory. Expectations for the […]
China Stock Fund Beating 97% of Peers Bets on Cheap State Firms
A Chinese stock fund has surged ahead of 97% of its competitors this year by focusing on low-valued state-owned enterprises (SOEs), reflecting a calculated shift toward overlooked segments of the market. With valuations of state firms significantly lagging private sector counterparts, the fund’s strategy highlights potential in sectors tied closely to government reforms. The fund’s […]
Oil Steadies as OPEC+ Once Again Delays Plan to Restore Output
Oil prices remained stable on Wednesday as OPEC+ delayed yet another decision on increasing production, keeping markets in suspense. The group, which includes major oil producers like Saudi Arabia and Russia, has been cautious in restoring supply to avoid destabilizing prices. With global demand rebounding post-pandemic, OPEC+ faces pressure to ramp up output, but lingering […]
EUR/USD catches a break, gains ground ahead of Friday NFP release
The EUR/USD edged higher on Thursday, recovering from earlier losses as traders positioned themselves ahead of Friday’s critical U.S. Nonfarm Payrolls (NFP) report. The currency pair gained momentum after initial weakness, with investors weighing mixed economic signals and bracing for potential market volatility tied to the labor market data. Market participants appear cautious, as the […]
France’s Macron: From now on, a new era must start with new compromises
French President Emmanuel Macron has urged the nation to embrace a transformative phase marked by “new compromises” as part of an evolving political and social landscape. Macron’s remarks come amid rising challenges, including social unrest over pension reforms and geopolitical pressures affecting Europe. His statement signals a pivot towards reconciliation and unity after a year […]