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PBOC sets USD/CNY reference rate at 7.1220 vs. 7.1191 previous

The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1220 on Tuesday, moving slightly higher than the previous level of 7.1191. This adjustment reflects the central bank’s cautious stance amid ongoing economic concerns and efforts to maintain stability in the currency markets. While the change may appear minimal, it signals the PBOC’s […]

USD/CAD posts modest gains above 1.3750, eyes on US Retail Sales data

The USD/CAD pair posted modest gains, holding steady above 1.3750 on Tuesday, as traders shift their focus to the upcoming US Retail Sales data release. The slight upward movement reflects a cautious market, with investors anticipating the potential impact of the sales data on the broader economic outlook. The pair’s rise comes amid a relatively […]

EUR/USD backslides to a ten-week swing low ahead of ECB rate call

The EUR/USD pair dropped to a ten-week low on Wednesday, trading near critical support levels as investors brace for the upcoming European Central Bank (ECB) rate decision. The euro has come under pressure amid growing uncertainty over the central bank’s next policy move, with market participants split on whether the ECB will pause or continue […]

Australian Dollar softenes ahead of employment data

The Australian dollar softened on Wednesday, slipping against major currencies as traders await the release of key employment data that could shape the country’s economic outlook. The currency’s decline reflects growing market caution, with investors concerned about whether the labor market can maintain its recent resilience in the face of global economic headwinds. The AUD/USD […]

PBOC sets USD/CNY reference rate at 7.1191 vs. 7.0830 previous

The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1191, higher than the previous 7.0830, in a move that reflects the central bank’s concerns over the continued weakening of the yuan. This marks another adjustment in a series of interventions as the PBOC seeks to manage the currency’s value amid growing […]

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 […]

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 […]

Gold price drifts lower amid modest USD strength, downside potential seems limited

A little increase in the strength of the US Dollar has exerted some pressure on the price of gold, resulting in a slight decline. As of Monday, gold is trading lower, reflecting the cautious mindset of investors; however, analysts indicate that the potential for a significant drop remains limited despite the greenback’s recent gains. There […]

GBP/USD remains close to one-month low, seems vulnerable near mid-1.3000s

As concerns about the economy of the United Kingdom and the moderate strength of the US Dollar persist, the GBP/USD pair is trading near the middle of the 1.300s, close to its one-month low. The pair’s vulnerability reflects broader market sentiment, with traders cautious about the Bank of England’s next steps amid economic uncertainty. The […]