PBOC to set daily USD/CNY rate at 6.7470 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.
Ford moves Lincoln production from China to US due to tariffs Ford plans to shift some Lincoln production from China to the US starting in 2030. The move is driven by the 52.5% tariff on Chinese-built vehicles. This decision follows General Motors, which also mov
Investors remain cautious on commodities despite a softer dollar, citing insufficient global demand, particularly from China, to sustain a rally. A softer dollar, driven by a less hawkish Federal Reserve, has not sparked a broad commodity rally. Institutional investors con
Japan's 8.45 trillion Yen intervention in August has seen nearly 50% of its impact erased in eight sessions amid USD strength. The Japanese Yen has surrendered roughly half the gains from Tokyo’s record 8.45 trillion Yen intervention in early August, with USD/JPY trading n
Sterling retreats after testing resistance at 1.3550 for the second time in four weeks, despite supportive technical indicators. The British Pound retreated from a high near 1.3550, failing to break above its mid-July peak and closing with a slight loss. The move marks the
The currency pair trades sideways below its 50-day SMA at 215.43 amid fears of official FX market intervention by US and Japanese authorities. The GBP/JPY pair remains steady at around 215.00 on Wednesday, with traders hesitant to take directional bets due to concerns over
Traders scaled back rate hike bets after US inflation figures aligned with expectations, weighing on the Australian Dollar. The Australian Dollar retreated against the US Dollar on Wednesday, closing at 0.7061 USD, down from earlier levels. The pullback followed US inflati
Traders scaled back Federal Reserve rate hike expectations after July US inflation data matched forecasts, weighing on the Australian dollar. The Australian dollar retreated against the US dollar on Wednesday, closing at 0.7061, down 0.07%. The move followed softer-than-fe
US July inflation data aligned with forecasts, reducing bets on Federal Reserve rate hikes and weighing on the Euro. The Euro retreated from a two-day high of 1.1563 against the US Dollar after July’s US Consumer Price Index met expectations, easing pressure on the Federal
Weak July credit figures could heighten expectations for additional monetary stimulus as private sector borrowing remains sluggish. China’s July credit and money supply data, due this week, may signal persistent softness in private borrowing. Analysts expect M2 growth to e
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