News and Information
On November 20, 2023, the China Foreign Exchange Trading Center was authorized to announce the central parity of the RMB exchange rate
The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on November 20, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1612 yuan, 1 euro to 7.8340 yuan, 100 yen to 4.8001 yuan, 1 Hong Kong dollar to 0.91848 yuan, 1 pound to 8.9465 yuan, 1 Australian dollar to 4.6807 yuan, 1 New Zealand dollar to the people...
Gold Weekly Review: Gold prices recorded the largest weekly increase in the past four weeks. The "Palestinian-Israeli" situation has added new variables, and the goal is to see the 2,000 mark
Gold posted its biggest weekly gain in four weeks amid growing expectations that the Federal Reserve will end monetary policy tightening as the dollar and Treasury yields weakened. Gold prices held steady on Friday (Nov. 17), with spot gold closing down 0.03% at $1980.65 an ounce after rising to a two-week high earlier in the session. Prices were up about 2.2% last week. (Spot Gold Chart) Gainesville Coins...
Risk sentiment dominates the market, with the dollar frantically testing the edge of a four-month low
On Friday (November 17), Canadian industrial inflation data went head-to-head with U.S. real estate data, but overall, risk sentiment appeared to be the main driver of the market's instantaneous move. U.S. building permits and U.S. housing starts both exceeded expectations, helping to halt the dollar's slide earlier on Friday and limit the Canadian dollar's gains. The Canadian dollar/yuan continued its decline on Friday, falling to a half-year low after experiencing its biggest decline in nearly two months on Thursday. The U.S. dollar index continued its downward trend,...
Gold bulls gain the upper hand, and strategic buying is emerging
The US data has completely dispelled the idea of raising interest rates! On Thursday (November 16), entering the European market, gold maintained a narrow range of volatility momentum, and is currently sorting around the 1960 dollar, but the strengthening of the US dollar has restrained the rise. This week's series of data released in the United States confirmed that inflation has slowed, strengthening the expectations of the end of the Federal Reserve's interest rate hike cycle, and gold has benefited from it. Gold prices rose on Thursday, supported by market expectations that the Federal Reserve's policy tightening cycle has ended, but the strengthening of the US dollar has suppressed the rise in gold prices....
Due to the uncertainty of the Federal Reserve's interest rate hike, the New Zealand dollar fell below 0.6000 against the US dollar.
The New Zealand dollar gave up recent gains against the dollar, trading around 0.5980 on Thursday. However, the New Zealand dollar was supported by the upside of China's economic data, and the country's trade outlook improved. In addition, the Chinese government's injection of 1 trillion yuan in low-cost financing into the real estate sector is a strategic move to address credit crunch concerns. A move of this magnitude could have a ripple effect on global economies, including New Zealand. The positive news from China supported the struggling...
On November 17, 2023, the China Foreign Exchange Trading Center was authorized to announce the central parity rate of the RMB exchange rate
The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on November 17, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1728 yuan, 1 euro to 7.8057 yuan, 100 yen to 4.7801 yuan, 1 Hong Kong dollar to 0.91988 yuan, 1 pound to 8.9178 yuan, 1 Australian dollar to 4.6565 yuan, 1 New Zealand dollar to the people...
The gold price correction was supported in 1960, and the pullback in inflation increased expectations that the Federal Reserve had completed its rate hike
In the US on Wednesday (November 15), stocks continued to rise on the basis of a strong rebound in the previous session, supported by more encouraging inflation data. At press time, the Dow Jones Industries Average Index was up 0.35%. The S & P 500 Index and the Nasdaq Composite Index were up 0.42% and 0.55%, respectively. After the benchmark 10-year Treasury yield plunged 18 basis points on Tuesday, it rose more than 10 basis points in the trading session on Wednesday. October...
As inflation cools, the Federal Reserve is expected to switch to rate cuts in May
After a US government report showed consumer prices unchanged in October from a year earlier, traders on Tuesday bet that cooling inflation would make the Federal Reserve give up more interest rate hikes and even start cutting rates before May. Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said at the Economic Club of Detroit that the report, which showed consumer prices rising 3.2 per cent from a year earlier after rising 3.7 per cent in September, "looks pretty good". He said that while...
On November 16, 2023, the China Foreign Exchange Trading Center was authorized to announce the central parity of the RMB exchange rate
The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on November 16, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1724 yuan, 1 euro to 7.8027 yuan, 100 yen to 4.7586 yuan, 1 Hong Kong dollar to 0.91866 yuan, 1 British pound to 8.9303 yuan, 1 Australian dollar to 4.6837 yuan, 1 New Zealand dollar to the people...
The price of gold has fallen for two consecutive weeks, just below 1900. Today, it is firmly pegged at the US CPI.
On Tuesday (November 14) entered the European session, spot gold fluctuated narrowly, awaiting the release of key US CPI data. Before that, Federal Reserve officials, including Chairperson Powell, had hit back at market bets on early interest rate cuts, and gold prices had fallen for two consecutive weeks. Gold prices traded narrowly on Tuesday, as investors refrained from building large positions ahead of the release of US inflation data. US inflation data may give more clarity to the possibility of further interest rate hikes by the Federal Reserve. Spot gold continues to...
Global inflation rankings for 186 countries/regions at a glance
Markets focus on tonight's U.S. CPI report, which was released at 21:30 Beijing time on Tuesday, November 14. The median expectations of economists currently surveyed show that the U.S. CPI is expected to rise by 0.1% monthly in October and 3.3% annualized, while the core CPI is expected to rise by 0.3% monthly and 4.1% annualized. Figure 1 below: Let's take a look at the overall inflation rankings of 186 countries/regions around the world: Figure 2 below: Show what will be released tonight...
On November 15, 2023, the China Foreign Exchange Trading Center was authorized to announce the central parity of the RMB exchange rate
The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on November 15, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market will be 7.1752 yuan for 1 US dollar, 7.8152 yuan for 1 euro, 4.7840 yuan for 100 yen, 0.91926 yuan for 1 Hong Kong dollar, 8.9747 yuan for 1 pound, 4.6697 yuan for 1 Australian dollar, and 4.6697 yuan for 1 New Zealand dollar for the people.
Gold prices explore 1930 again, keeping an eye on the data storm this week
Monday (November 13) entered the European session, market sentiment was more positive, the dollar stabilized, gold prices hovered at a near three-week low, and the market is currently focused on US inflation data. Last week, Federal Reserve Chairperson Jerome Powell hit back at the market's bet to cut interest rates early, and investors will get clues about monetary policy from more data. Gold prices hovered near three-week lows on Monday, as the dollar strengthened, and investors waited for US inflation data to get information on whether the Federal Reserve will keep interest rates unchanged or raise interest rates...
On November 14, 2023, the China Foreign Exchange Trading Center was authorized to announce the central parity of the RMB exchange rate
The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on November 14, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1768 yuan, 1 euro to 7.7102 yuan, 100 yen to 4.7629 yuan, 1 Hong Kong dollar to 0.91902 yuan, 1 pound to 8.8490 yuan, 1 Australian dollar to 4.6026 yuan, 1 New Zealand dollar to the people...
"Hawkish" speech ignored? Morgan Morgan expects the European Central Bank to cut interest rates in June next year
The European Central Bank will cut interest rates for the first time by 25 basis points in June 2024, Morgan Stanley economists said in a note on Sunday. They added that rates would "fall all the way down" to 2.0 percent by September 2025. Jens Eisenschmidt, the bank's chief European economist, said, "We think the ECB's interest rate has peaked at 4 percent. From now on, it is slowly shifting its focus from current inflation to forecast...
