PBOC sets USD/CNY reference rate at 6.7787 vs. 6.7807 previous
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7787 compared to the previous day’s fix of 6.7807 and 6.7098 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, […]
Depreciation trend persists as oil shock weighs – MUFG
MUFG’s Lloyd Chan argues that while the pace of Rupiah depreciation may slow, the broader weakening trend is set to continue. USD/IDR has pulled back as crowded long positions unwind and some foreign inflows return, but elevated US yields and high Oil prices remain headwinds. MUFG maintains its USD/IDR forecast at 18,350 by end-2026. Rupiah […]
What is driving the US Dollar’s sharp decline before NFP?
The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, slides below 99.00 to its lowest level in over a week on Thursday. At the time of writing, DXY trades around 98.90, down 0.67% on the day, after reaching 99.86 on Wednesday. A sharp rally in the Japanese […]
New growth paths after export peak – ING
ING economists Bert Colijn and Carsten Brzeski argue that the Eurozone’s long-standing export-led growth model is being structurally eroded by higher energy costs, rising Chinese competition and a changing global trade environment. They outline four stylised scenarios for future growth, stressing that Europe’s success will hinge on productivity, cheaper energy, deeper capital markets and credible […]
XAU/USD recovery, likely to be challenged around $4,470
Gold (XAU/USD) is trading higher on Thursday, returning to levels above $4.400 after bouncing from three-week lows near $4,280 on Wednesday. The precious metal is drawing support from a weaker USD, as ADP employment data disappointed and New York Federal Reserve (Fed) President John Williams tamed rate hike expectations, but Fed tightening bets remain solid, […]
Indian Rupee hits fresh two-month high against US Dollar
The Indian Rupee (INR) opens strongly against the US Dollar (USD) on Thursday, extending the rally to near 94.28. The Indian currency gains significantly as a juggernaut mobilisation of foreign exchange in India through the Reserve Bank of India’s (RBI) Foreign Currency Non-Resident (FCNR) (B) deposits window has increased FX reserves. According to a Reuters […]
Australian Dollar weakens against Japanese Yen following China’s Services PMI data
AUD/JPY extends its losses for the fourth consecutive day, trading around 113.50 during the Asian hours on Thursday. The Australian Dollar (AUD) remains subdued following a wave of mixed economic data from Australia and China, putting downward pressure on the currency cross. Australia’s Trade Balance narrowed significantly to A$1,923M month-over-month in July, down from a […]
Renewed campaign against Iran will not continue for too long
US President Donald Trump said that while the US is prepared to strike Iran again at any time, he doesn’t expect the renewed fighting to last “too long,” Reuters reported on Wednesday. Iran’s Supreme Leader Mojtaba Khamenei said that Iran’s armed forces have “unforgettable lessons” in store for the US in his first message since […]
Bulls eye 0.8200 as RSI turns higher
The USD/CHF pair advances some 0.13% on Wednesday as the Greenback holds within familiar levels, after depreciating versus the Japanese Yen amid speculation of an intervention in the FX markets. This dragged the pair from around five-week highs to the 0.8120 area. USD/CHF Price Forecast: Technical Outlook Price action shows USD/CHF is poised to trade […]
Fed’s Beige Book shows modest economic growth as prices rise
The Federal Reserve (Fed) released its Beige Book on Wednesday, in which the US central bank stated that economic activity increased modestly since early July, while overall employment rose slightly. Regarding inflation, prices rose in eight districts. Input pressures were elevated in manufacturing and construction across multiple districts due to price increases in energy, raw […]
