China's financial regulator vows to tackle property and local debt risks China's financial regulator has pledged to prevent systemic financial risks and resolve exposures in real estate and local government debt. The regulator's statement highlights the interlockin
Nearly 500 vessels, including 220 oil tankers, remain stalled outside Hormuz amid insurance voids, keeping oil prices elevated. The US is considering invoking the Defense Production Act to compel domestic insurers to cover Hormuz transits, aiming to clear a bottleneck of 4
Easing risk sentiment and progress in US-Iran negotiations pressure the USD, halting its four-day rally against the CAD near 1.3990. The USD/CAD pair retreated to around 1.3990 in Asian trading, ending a four-day winning streak as the US Dollar faced downward pressure. Gro
The British pound climbs against the dollar as optimism over a US-Iran peace agreement boosts risk sentiment ahead of key economic data. The GBP/USD pair advanced to 1.3430 in early Asian trading on Wednesday, supported by expectations of a US-Iran peace deal set to be sig
PBOC sets USD/CNY reference rate at 6.8096, above Reuters estimate of 6.7659, signaling modest depreciation pressure. The People’s Bank of China set the USD/CNY reference rate at 6.8096 for Wednesday’s session, slightly weaker than Tuesday’s fix of 6.8108. The rate came in
PBOC sets USD/CNY mid-point at 6.8096 The PBOC has set the USD/CNY reference rate at 6.8096. This rate allows the yuan to fluctuate within a +/- 2% range. The set rate is higher than the estimated 6.7659 and 6.7569, which may impact trade.
Traders await the Fed’s updated economic projections and dot plot after the BoJ’s rate hike failed to lift the yen significantly. The USD/JPY pair trades below 160.50 in Asian hours, remaining near multi-decade highs despite the Bank of Japan’s rate increase to its highest
A sharper-than-forecast trade deficit narrowing to 378.7 billion yen bolsters expectations for Bank of Japan policy normalization. Japan’s exports grew 17% year-on-year in May, exceeding forecasts and marking the fastest expansion since late 2022. The trade deficit narrowe
The Reserve Bank of Australia maintains rates but signals a hawkish stance, lifting the AUD/USD pair to 0.7070. The Australian Dollar rose above 0.7050 against the USD, trading at 0.7070 in early Asian hours after the Reserve Bank of Australia (RBA) opted to hold rates ste
Singapore's non-oil domestic exports rose 38.4% year-on-year in May The surge in exports was driven by AI-related electronics demand, with integrated circuits, disk media, and PCs leading the growth. The electronics sector saw a significant boost, with exports to t
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