PBOC SETS USD/CNY RATE AT 7.1881, ABOVE EXPECTATIONS PBOC sets the USD/CNY reference rate at 7.1881 for today’s trading. The market had expected the rate to be 7.3247. The PBOC manages the yuan's value within a range of +/- 2% around the
EUR/USD STRUGGLES TO MAINTAIN GAINS AFTER BREAKING 1.0300 EUR/USD briefly moved above 1.0300 but failed to hold. US Dollar fell below 109.00 after US CPI data but rebounded later. Investors are now focusing on US Retail Sales and weekly jobs report. EUR/USD slipped to
EUR/USD STRUGGLES TO MAINTAIN GAINS AFTER BREAKING 1.0300 EUR/USD briefly moved above 1.0300 but failed to hold. US Dollar fell below 109.00 after US CPI data but rebounded later. Investors are now focusing on US Retail Sales and weekly jobs report. EUR/USD slipped to
CRYPTO MARKET RALLIES, BITCOIN EYES $100K AFTER US CPI DATA Bitcoin is approaching $100K as the crypto market surges. US December CPI data showed inflation rose 2.9%, matching expectations. Core CPI increased to 3.2%. XRP, Stellar, AVAX, meme coins, and AI tokens saw significant gains. The crypto market
WELLS FARGO SHARES SURGE MORE THAN 5% ON EARNINGS REPORT! Wells Fargo's earnings grew significantly in the fourth quarter of 2024. Net income was $5.08 billion, or $1.43 per share, up 47.24% from the previous year. The bank’s investment banking revenues saw a major
AUSTRALIA'S UNEMPLOYMENT RATE RISES TO 4.0% IN DECEMBER Unemployment Rate Climbs to 4.0% from 3.9% in November December Employment Change at 56.3K, Beating Consensus of 15.0K Participation Rate Increases to 67.1% from 67.0% Full-Time Employment Decreases by 23.7K, Part-Time Employment
Stocks went down on Tuesday after starting the day higher. Investors are waiting for more U.S. inflation data. A report showed lower-than-expected producer price increases. The Dow Jones dropped 69 points (about 0.2%). The S&P 500 fell 0.3%, and the Nasdaq lost 0.4%. Early
UBS analysts predict gold prices may hit a new record high in 2025. This is because investors might turn to safe investments during possible stock market volatility. In 2024, gold prices rose 27%, reaching a record $2,788 per ounce in October. The annual average price for gold in 2024
CHAINLINK PRICE RECOVERS AS WHALES BUY $20M IN LINK Chainlink price rose 10% in 24 hours, reclaiming the $20 level and reversing 24% losses from the previous week. Traders are favoring crypto projects linked to the incoming Trump administration, like DOGE and XRP. Chainlink’s top 100 holders purchased 1.
GOLDMAN SACHS FORECASTS US CPI INFLATION FOR DECEMBER Goldman Sachs forecasts the US headline CPI inflation at 2.91% annually and 0.4% monthly for December. The core CPI, excluding food and energy, is expected to be 3.27% annually and 0.25% monthly. The US CPI data, due later
AUD/USD RECOVERY TEMPORARY AS PRESSURE FROM USD STRENGTH PERSISTS AUD/USD briefly rose above 0.6200 but failed to sustain the move. The US Dollar weakened further on tariff news and US data, pushing the USD Index (DXY) to the low 109.00s. The Westpac Consumer Confidence Index for
GOLD PRICE OUTLOOK WEIGHS ON SENTIMENT AND PPI DATA XAU/USD currently trades at $2,672.99, with gold prices under pressure. The US Producer Price Index (PPI) rose by less than expected in December, supporting gold's recovery. Speculative interest in gold is influenced by sentiment and headlines