Author: FX
BEIJING (Reuters) – The foundation for a “basically stable” yuan exchange rate remains “solid,” according to an article published by Financial News, the People’s Bank of China’s publication, on Wednesday. The foreign exchange market is operating steadily, and the yuan is likely to stabilise and strengthen towards the end of this year, the article said. China’s top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher U.S. trade tariffs as Donald Trump returns to the White House, Reuters reported earlier on Wednesday. Source link
Fundamental OverviewThe US Dollar continues to consolidate around the highs although it’s stronger against the commodity currencies. In the bigger picture, the market reached the peak in the repricing of interest rates expectations, and it will need stronger reasons to price out the remaining rate cuts for 2025.In fact, despite lots of strong US data, the market’s pricing remaining largely unchanged around three rate cuts by the end of 2025. The focus is now on the US CPI report. It looks like the Fed really wants to cut next week before pausing for some months. So, we might need an…
After the inflation numbers in Hungary and the Czech Republic, this morning we also saw the numbers in Romania. November inflation rose from 4.7% to 5.1%, slightly above market expectations, ING’s FX analyst Chris Turner notes. The complete inflation picture “Although inflation should fall again in the coming months, we see the National Bank of Romania returning to rate cuts in the second quarter of next year at the earliest. However, for now, the main theme remains the fiscal and political situation after the election in Romania. This is probably the NBR’s focus for now as well and inflation is more of a…
Performant Financial announces name change to Performant Healthcare to focus on healthcare sector Source link
By Felix Light TBILISI (Reuters) – Seventy-five-year-old Marina Terishvili’s teenage son Mamuka was shot dead at a nationalist rally in Georgia in 1992. Now her other son, Giorgi, has been arrested for his role in protests against perceived Russian influence in their homeland. Seven police cars pulled up at her house in the capital Tbilisi on Friday and took Giorgi, a 52-year-old taxi driver, into custody, she said. He was placed in pre-trial detention for two months for “participating in group violence” according to a rights group and local media, and faces up to six years in prison if convicted,…
The ECB is widely expected to cut its interest rates in December. Recent economic indicators and ECB member commentary have strengthened this view, with the market pricing in additional cuts through 2025. How does EUR usually react to the central bank statement and press conference? We have the points you need to know if you’re trading the events! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Scholz is widely expected to lose the vote, after having seen his coalition collapse in November. For some context, his government does not command a majority already. The vote is all but a formality to tee up fresh federal elections in Germany. That will happen once Scholz loses the vote and has to dissolve parliament. The snap election is then expected to take place on 23 February.It’s a testing time for two of Europe’s largest economies, with France also caught in a political quagmire after Barnier lost his confidence vote as prime minister. Couple that with economic woes, it sets…
USD/CAD pulls back from a multi-year top, though the downside seems limited. Rising oil prices underpins the Loonie and exert pressure on the currency pair. The technical setup supports prospects for the emergence of some dip-buyers. The USD/CAD pair edges lower during the Asian session on Wednesday, though it lacks follow-through and remains close to the highest level since April 2020 touched the previous day. Spot prices currently trade just above mid-1.4100s, down less than 0.10% for the day, as traders keenly await the US consumer inflation figures and the Bank of Canada (BoC) policy decision before placing fresh directional…
WTI crude oil has formed lower highs and found support at $67 per barrel to create a descending triangle on its 4-hour chart. Is it gearing up for a breakout soon? WTI Crude Oil (USOIL) 4-hour Chart by TradingView WTI crude oil has been tossing and turning inside this triangle consolidation pattern while geopolitical tensions have escalated and cooled over the past months. This time, the energy commodity has found support at the descending triangle bottom once more, driven by worsening violence in Syria and resurfacing global supply concerns. In addition, the OPEC+ decision to delay its planned production hike…
By Gerry Doyle, Vijdan Mohammad Kawoosa and Arathy J. Aluckal (Reuters) – An SM-3 interceptor erupted into the night sky over Guam late on Tuesday, its engine briefly illuminating the northeast corner of the island as it accelerated toward its target: a ballistic missile. U.S. Missile Defense Agency and military personnel monitored the radars and telescopic cameras tracking both projectiles; this was not an attack, but a complex test. Within minutes, the ballistic missile – air-launched from a U.S. Air Force C-17 – was pulverized by the kinetic energy of the SM-3. (To view the graphic, click on ) The…