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PBOC sets USD/CNY reference rate at 7.1786 vs. 7.1433 previous

The People’s Bank of China (PBoC) has set the USD/CNY reference rate at 7.1786, up from the previous 7.1433. This adjustment indicates a weaker yuan against the U.S. dollar, reflecting the central bank’s response to current economic conditions and currency market dynamics. The PBoC’s daily reference rate, also known as the central parity rate, serves […]

EUR/USD remains tepid near 1.0700 due to higher US Dollar, political uncertainties

The EUR/USD currency pair is currently trading near 1.0700, reflecting a subdued performance influenced by a strengthening U.S. dollar and prevailing political uncertainties. The U.S. dollar has gained momentum, bolstered by robust economic data and expectations of sustained interest rate policies by the Federal Reserve. This strength has exerted downward pressure on the euro, contributing […]

ECB’s Holzmann: December rate cut possible

European Central Bank (ECB) Governing Council member Robert Holzmann has indicated that a December interest rate cut is possible, though not guaranteed. This statement reflects the ECB’s ongoing assessment of economic conditions and its commitment to data-driven policy decisions. Holzmann’s remarks align with recent ECB actions, including a quarter-point rate cut in October, aimed at […]

Fed’s Kashkari: Economy strong, but inflation not vanquished

Federal Reserve Bank of Minneapolis President Neel Kashkari recently stated that the U.S. economy remains robust, yet inflation has not been fully subdued. He emphasized that while significant progress has been made in reducing inflation, the Federal Reserve’s 2% target has not been achieved, necessitating continued vigilance. Kashkari highlighted the resilience of the labor market […]

GBP/USD struggles for firm near-term direction, remains confined in a range around 1.2900

The British pound (GBP) is currently trading around 1.2900 against the U.S. dollar (USD), exhibiting limited movement as it remains within a narrow range. This stagnation reflects a balance between factors influencing both currencies. The U.S. dollar has shown strength, bolstered by robust economic data and expectations of further interest rate adjustments by the Federal […]

Gold Price Forecast: XAU/USD drifts lower below $2,700 on firmer US Dollar

Gold prices have recently declined below $2,700 per ounce, influenced by a strengthening U.S. dollar and rising Treasury yields. The U.S. dollar’s appreciation has made gold more expensive for holders of other currencies, reducing its appeal. Additionally, the anticipation of further interest rate cuts by the Federal Reserve has impacted gold’s attractiveness as a non-yielding […]

BoJ Summary of Opinions: Member suggests easing adjustment if outlook is achieved

A Bank of Japan (BoJ) policymaker has suggested that the central bank could consider adjusting its easing measures if the nation’s economic outlook reaches targeted levels. This hint at a potential policy shift comes amid growing signs of economic recovery, raising questions about the future of Japan’s ultra-loose monetary stance. In the latest Summary of […]

Bitcoin, crypto market remain in uptrend following 25 bps Fed rate cut

The cryptocurrency market, led by Bitcoin, continues its upward trajectory following the Federal Reserve’s 25 basis point rate cut. This monetary easing has bolstered investor confidence, prompting increased interest in digital assets. Bitcoin’s price has risen, reflecting the market’s positive response to the Fed’s decision. Other cryptocurrencies have also experienced gains, indicating a broad-based rally […]

XRP sees bullish momentum following $123 million increase in open interest

XRP has gained bullish traction with a $123 million increase in open interest, reflecting heightened investor interest and optimism for the token. The rise in open interest indicates that more investors are betting on XRP’s upward movement, fueling buying momentum in the market. Technical indicators, such as the Relative Strength Index (RSI), have moved above […]

PBOC sets USD/CNY reference rate at 7.1433 vs. 7.1659 previous

The People’s Bank of China (PBOC) set the USD/CNY central parity rate at 7.1433, lower than the previous rate of 7.1659. This move indicates the PBOC’s intent to manage the yuan’s value strategically, possibly to support China’s export sector by making Chinese goods more competitive internationally. The shift comes as China navigates economic challenges, with […]