PBOC sets USD/CNY reference rate at 7.1876 vs. 7.1878 previous
The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1876, a marginal adjustment from the previous rate of 7.1878. This marks a slight shift in the central bank’s approach as it continues to balance market stability with economic growth pressures. The move comes amid broader economic challenges, including weaker-than-expected recovery signals […]
Dollar holds near two-year high; yuan under threat
The U.S. dollar held close to a two-year high on Tuesday, bolstered by persistent demand as investors seek refuge from global economic uncertainties. Strengthened by the Federal Reserve’s hawkish stance and robust economic data, the greenback continues to dominate the currency market, placing pressure on its rivals. The Chinese yuan, meanwhile, faces mounting challenges as […]
EUR/USD remains subdued around 1.0300 ahead of preliminary German inflation
The EUR/USD pair continues to trade near the 1.0300 level as investors await Germany’s preliminary inflation data. Market participants are cautious, weighing the potential implications for the broader eurozone economy and monetary policy. Analysts expect the data to offer key insights into inflationary pressures, a focal point for the European Central Bank’s policy path. The […]
GBP/USD holds steady above 1.2400; upside potential seems limited amid bullish USD
The GBP/USD pair remains steady above the 1.2400 level, but its upside potential appears capped as the US dollar sustains its bullish momentum. While the pound finds some support from a weaker global risk sentiment, the greenback continues to dominate due to hawkish expectations surrounding the Federal Reserve’s policy outlook. Market participants remain cautious as […]
Fed’s Daly: Inflation remains above our target
Federal Reserve Bank of San Francisco President Mary Daly stated that inflation remains above the central bank’s target, emphasizing the ongoing challenge of achieving price stability. Speaking on recent economic data, Daly underlined the Fed’s commitment to controlling inflation while avoiding unnecessary disruptions to economic growth. Daly pointed out that while inflation has moderated, it […]
Gold Price Forecast: XAU/USD holds below $2,650 as traders await fresh catalysts
Gold prices remained below $2,650 as traders awaited clearer signals from economic data and Federal Reserve commentary. Despite persistent global uncertainties, the precious metal’s momentum has stalled, with investors taking a cautious stance. The lack of significant drivers in recent sessions has left gold range-bound, testing the patience of bulls betting on higher prices. Analysts […]
Oil Rises for Sixth Day as Wider Market Optimism Fuels Bulls
Oil prices extended their rally for the sixth consecutive day, buoyed by a surge in global market confidence. Investors remain bullish as improved sentiment in equity markets spills over into commodities, fueling a rise in crude prices. Brent crude edged closer to $80 a barrel, while U.S. West Texas Intermediate (WTI) maintained gains near $76, […]
Gold Holds Decline After Fed Officials Express Inflation Concern
Gold prices edged lower as Federal Reserve officials signaled ongoing concerns about inflation, keeping markets wary of potential policy tightening. The metal’s retreat follows hawkish remarks from policymakers, who emphasized the need to stay vigilant against inflationary pressures, even as signs of economic resilience persist. The Fed’s commitment to controlling inflation has weighed on gold, […]
Asian Stocks Fluctuate After Wall Street Rebound: Markets Wrap
Asian equities traded with mixed performance as investors digested Wall Street’s recovery, fueled by optimism over economic resilience. Despite positive cues from U.S. markets, concerns over global growth and ongoing monetary policy tightening kept regional gains in check. Japan’s Nikkei 225 edged higher, supported by strong corporate earnings, while Hong Kong’s Hang Seng retreated, weighed […]
PBOC vows more stimulus to boost consumption
The People’s Bank of China (PBOC) has reaffirmed its commitment to bolstering economic recovery by rolling out additional stimulus measures aimed at boosting consumption. In its latest statement, the central bank emphasized its focus on maintaining a “prudent and targeted” monetary policy while supporting key sectors such as infrastructure and green energy. This move aligns […]
