Rising US PCE inflation bolsters expectations for Federal Reserve rate hikes, weakening the euro against the dollar. The EUR/USD pair fell to around 1.1365 in early Asian trading on Friday, approaching a 13-month low near 1.1350. The decline follows stronger-than-expected
Rising US PCE inflation data boosts expectations for a Federal Reserve rate hike in September, pressuring the euro near 13-month lows. The EUR/USD pair fell to around 1.1365 in early Asian trading Friday, nearing a 13-month low as US inflation data reinforced expectations
China’s central bank sets the yuan’s daily reference rate, influencing onshore trading within a 2% band around the midpoint. The People’s Bank of China is set to announce its daily USD/CNY reference rate, with market estimates pointing to a fixing near 6.8015. The midpoint
Samsung's 1,000 trillion won domestic investment plan and extended fuel price caps may ease inflation and boost semiconductor supply chains. Samsung Group plans to announce a 648 billion dollar investment in South Korea over ten years, including 300 trillion won for chip f
Commerce Department ruling bars Geely-owned EV brand from US market starting model year 2027 under connected vehicle regulations. The US Department of Commerce denied Polestar authorization to sell vehicles in the United States from model year 2027, citing rules targeting
The Mexican central bank kept rates at 6.50%, sparking a rally in the Peso as traders bet on prolonged tight policy. The Mexican Peso surged 0.62% to 17.49 per USD after Banxico unanimously held its benchmark interest rate at 6.50%. The decision defied some expectations fo
Australian employment surged by 40.3K in May, beating forecasts, but the AUD remained flat as robust US economic data overshadowed the hawkish RBA signal. The Australian Dollar showed no momentum Thursday despite a stronger-than-expected labor report. May employment rose b
Polymarket paid creators to fake trades and wins Polymarket paid college-age creators to film fake trades and wins on dummy versions of its site. The campaign was designed to draw in US users, despite Polymarket being banned from offering its primary crypto product to
The DXY slipped to 101.45 after failing to sustain gains near 101.75 despite firm US economic releases. The US Dollar Index (DXY) declined on Thursday, retreating to 101.45 after briefly testing 101.75 earlier in the session. The move came despite a batch of stronger-than-
Firm GDP and jobs figures failed to lift the DXY as in-line inflation data reduced Fed hike bets for September. The US Dollar Index (DXY) declined to 101.45 on Thursday despite robust economic data, defying expectations for a rally. First-quarter GDP was revised up to 2.1%
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