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.
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
The daily yuan reference rate will signal policy intent amid managed float rules and market volatility concerns. The People’s Bank of China is poised to set the USD/CNY reference rate at approximately 6.7659, a key benchmark for the yuan’s trading band. The midpoint, deter
EUR/USD holds near 1.1610 ahead of Fed rate decision The EUR/USD pair is holding steady near 1.1610 during the early Asian session on Wednesday. Traders are waiting on the sidelines ahead of the US Federal Reserve interest rate decision. The US May Retail S
April data shows stronger-than-expected business investment and export growth, easing concerns over Japan’s economic slowdown. Japan’s core machinery orders surged 8.7% month-on-month in April, far exceeding expectations of a 0.9% gain and reversing a 9.4% decline in March
OpenAI’s first-quarter cash burn exceeded half its revenue, signaling sustained heavy investment in AI infrastructure and growth. OpenAI reported a $3.7 billion loss in the first quarter of 2026, consuming over 65% of its $5.7 billion revenue. The company’s aggressive spen
The European Central Bank raised its key rate to 2.25% and indicated another hike in September amid upwardly revised inflation forecasts. The European Central Bank raised its benchmark interest rate by 25 basis points to 2.25%, marking its first increase since 2023. The mo
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