The People’s Bank of China sets the daily USD/CNY reference rate higher than analyst expectations, signaling potential yuan weakness. The People’s Bank of China set the USD/CNY reference rate at 6.8066, above the Reuters estimate of 6.7850. The yuan is permitted to trade w
The currency pair trades near a two-week high but remains capped by safe-haven dollar strength amid Strait of Hormuz risks. The EUR/USD pair remains subdued in early Asian trading, consolidating below the 1.1450 level. Geopolitical tensions in the Strait of Hormuz have bol
The Australian Dollar weakens after inflation data misses expectations, reversing two days of gains against the USD. The Australian Dollar retreated against the USD, trading near 0.6930 in Asian hours after the TD-MI Inflation Gauge recorded a 0.4% month-over-month decline
AUD/USD declines to 0.6930 after TD-MI Inflation Gauge data The AUD/USD currency pair lost ground following the release of TD-MI Inflation Gauge data, which came in at -0.4% month-over-month. The data release occurred amidst traders weighing hawkish interpretations
Goldman Sachs holds its 2026 gold forecast at $4,900/oz, citing sustained central bank demand amid divergent Wall Street projections. Goldman Sachs reaffirmed its gold price target of $4,900 per ounce for Q4 2026, despite trimming its year-end forecast by $500 in June. The
A near-even split among economists on whether the RBNZ should hold or hike rates in July reflects deep uncertainty over inflation and demand. New Zealand’s central bank faces a finely balanced decision at its July meeting, with economists evenly divided on whether to hold
PBOC to set daily USD/CNY rate at 6.7850 The People’s Bank of China sets the daily USD/CNY reference rate to guide market expectations. The current trading band permits the currency to move plus or minus 2% from the official midpoint during onshore trading hours.
The bank cites persistent inflation risks and a weaker NZD as key factors for the expected 25 basis point hike next week. ANZ expects the Reserve Bank of New Zealand to raise the Official Cash Rate by 25 basis points to 2.50% at its July 8 review, despite a sharp decline i
Samsung’s operating profit is set to hit a record 86 trillion won, driven by AI-driven memory chip shortages and rising prices. Samsung Electronics is poised to report an 18-fold jump in second-quarter operating profit to 86 trillion won ($56.35 billion), reflecting surgin
SECURE 2.0 eliminates pretax 401(k) catch-up deductions for earners over $150,000, pushing tax-efficient HSAs to the forefront. SECURE 2.0 mandates Roth-only 401(k) catch-up contributions for workers earning over $150,000, removing up to $2,700 in annual federal tax deduct
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