China’s central bank sets the daily yuan reference rate above market expectations, signaling potential depreciation pressure. The People’s Bank of China set the USD/CNY reference rate at 6.8431, compared with an estimate of 6.7946. The move allows the yuan to trade within
The People’s Bank of China’s daily yuan fixing is closely watched for signals on currency policy amid broader USD strength and economic conditions. The People’s Bank of China is expected to set its daily USD/CNY reference rate at 6.7946, according to a Reuters estimate. Th
Euro weakens to 1.1735 against USD The EUR/USD pair is trading lower around 1.1735. This decline is attributed to higher US inflation. The US Dollar has edged higher against the Euro as a result.
US April CPI rose to 3.8%, exceeding expectations and strengthening Fed rate hike speculation. The EUR/USD pair fell to 1.1735 in early Asian trading on Wednesday, pressured by stronger-than-expected US inflation data. The US Consumer Price Index (CPI) climbed 3.8% year-ov
Goldman Sachs revises its yuan targets higher, citing structural undervaluation and China's record external surplus. Goldman Sachs raised its forecasts for the Chinese yuan, projecting it will strengthen to 6.50 per dollar in a year, up from prior targets. The bank estimat
Hotter-than-expected US inflation data and UK political turmoil push the pair to multi-day lows near 1.3500. GBP/USD dropped 0.7% on Tuesday, retreating from session highs near 1.3650 to test 1.3500 before a slight rebound to 1.3540. The decline followed stronger-than-expe
The currency pair climbs over 0.2% as traders react to US Treasury remarks on excessive FX volatility. USD/JPY rose to a four-day high of 157.80, gaining over 0.2% as markets digested comments from US Treasury Secretary Scott Bessent. Bessent highlighted concerns over unde
The New Zealand dollar retreated slightly following stronger-than-expected US CPI, with traders eyeing upcoming RBNZ inflation expectations. The New Zealand dollar dipped against the US dollar on Tuesday, paring earlier gains after US inflation data exceeded expectations.
New Zealand dollar weakens after US CPI rises to 3.8% YoY, overshooting forecasts ahead of RBNZ inflation expectations data. The New Zealand dollar dipped against the USD on Tuesday, erasing earlier gains after US inflation data exceeded expectations. NZD/USD fell to a ses
Australia’s budget measures, including fuel excise relief and tax cuts, helped stabilize the AUD after April CPI data weighed on sentiment. AUD/USD erased early losses on Tuesday, closing nearly flat after Treasurer Jim Chalmers unveiled a budget targeting oil shock fallou