News and Information

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 1, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1283 yuan for 1 US dollar, 7.8579 yuan for 1 euro, 5.0207 yuan for 100 yen, 0.91400 yuan for 1 Hong Kong dollar, 9.1706 yuan for 1 pound, 4.8016 yuan for 1 Australian dollar, and 4.8016 yuan for 1 New Zealand dollar.

  International crude oil prices have risen for five consecutive weeks and are on track to record their best monthly performance in more than a year. Goldman Sachs' latest report believes that the market has given up its pessimism about the economy and raised its price expectations for the future of oil. International crude oil prices are expected to record their biggest monthly increase in more than a year in July due to signs that the oil market is tightening. Futura Foreign Exchange Investment forecasts that crude oil demand is growing at a record rate as OPEC + cuts production. Moreover, analysts said they expect sand...

  Minneapolis Federal Reserve President Kashkari said the outlook for inflation in the United States is "quite optimistic", although the Federal Reserve's aggressive monetary policy to curb price increases could lead to some job losses and slower economic growth. Kashkari's comments on Sunday came after key data showed that U.S. inflation has fallen back from epidemic highs, economic growth has held steady and consumers are continuing to spend even as the Federal Reserve raises interest rates to their highest level in 22 years. The regional Fed...

  While the U.S. unemployment rate continues to hover at historic lows, the regional Fed president warned that the figure could rise to 4 percent in the future, but it would still be a "soft landing".... Minneapolis Fed President Kashkari said the U.S. inflation outlook is "pretty optimistic", even though the Federal Reserve's aggressive monetary policy to curb price increases could lead to some job losses and slower economic growth. Kashkari's comments on Sunday came after key data showed that the U.S....

  ATFX - While the U.S. unemployment rate continues to hover at historic lows, the regional Fed president warned that the figure could rise to 4 percent in the future, but it's still a "soft landing".... Minneapolis Fed President Kashkari said the U.S. inflation outlook is "pretty optimistic", even though the Federal Reserve's aggressive monetary policy to curb price increases could lead to some job losses and slower economic growth. Kashkari's comments on Sunday came after key data...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 31, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1305 yuan, 1 euro to 7.8836 yuan, 100 yen to 5.0802 yuan, 1 Hong Kong dollar to 0.91437 yuan, 1 pound to 9.1955 yuan, 1 Australian dollar to 4.7640 yuan, 1 New Zealand dollar to RMB...

  The Federal Reserve's preferred measure of inflation is likely to slow significantly in June as inflation continues to fall back from its peak. The question now is how long this relief will last. Societe Generale Investment economists are forecasting a 0.2% month-on-month increase in the core personal consumption expenditure price index (PCE) in June, down from 0.3% in May, according to FactSet. This would bring the core PCE's annualized growth rate down to 4.2%, down from 4.6% in May. Economists table...

  The Nikkei coverage, which is regarded as the spokesperson of the Bank of Japan, said that the Bank of Japan will discuss the revision of the YCC today, investors panicked, the yen rose sharply, and the Dow ended its longest streak since 1987. Japanese media reported that the Bank of Japan plans to discuss adjusting its yield curve control policy (YCC) at its policy meeting today (Friday), after which the yen rallied against all major currencies. The yen rose as much as 2% against the euro, the largest gain since March this year...

  The yield on Japan's benchmark 10-year government bond rose 7 basis points to 0.505% at the end of morning trading on Friday (July 28), breaching the Bank of Japan's YCC ceiling and hitting its highest level since March 3. The dollar fell more than 0.5% against the yen in the day to 138.77. There is speculation that Japanese policymakers are discussing loosening their strict control over interest rates as pressure on the Bank of Japan to adjust its policy grows. Tokyo CPI exceeds expectations again, Japan's 10-year...

  The US stock market had a good rally, and the Dow almost went down in history with 14 consecutive rallies (if it were 14, it would be the longest consecutive rally since June 1897). Unfortunately, during the session, the Bank of Japan will discuss adjusting the yield curve control (YCC), so that the news that long-term interest rates are above the upper limit suddenly came out. If the Bank of Japan does adjust the YCC policy, the market will be regarded as the start of a tightening cycle, which startled the capital markets, and the three major US stock indexes suddenly turned down. Eventually, the Dow...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 28, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1338 yuan, 1 euro to 7.8627 yuan, 100 yen to 5.1491 yuan, 1 Hong Kong dollar to 0.91431 yuan, 1 pound to 9.1606 yuan, 1 Australian dollar to 4.8063 yuan, 1 New Zealand dollar to RMB...

  Gasoline prices are starting to surge everywhere, a bellwether of inflation for central banks and governments. US gasoline futures prices have just surged to their highest level in nine months, shaking the oil market, while gasoline prices in Asia are also rising. The global motor fuel market has tightened due to unexpected refinery shutdowns and lower-than-normal inventories in major storage centres such as the US Gulf Coast and Singapore. In the global energy market, it is worth noting that although crude oil futures prices are today...

  While interest rates on some loans, such as credit cards, are rising as the Federal Reserve raises interest rates, interest rates on a large portion of consumer debt remain at levels last seen a few years ago. That has allowed many households to keep spending, keeping the economy strong even as recession forecasts prevail. As of Quarter 1, only 11 percent of outstanding household debt has interest rates that fluctuate with base rates, according to Moody's Analytics...

  Kathy Jones, chief fixed income strategist at Charles Schwab, said the dollar is likely to stay around its current level until the Fed starts signaling a shift from rate hikes to rate cuts. "Until the Fed actually signals a policy shift, it's hard to say the dollar has reached a tipping point," Jones said. Early this morning, the Federal Reserve's interest rate resolution went on schedule to raise interest rates by 25 basis points, the US...

  As the interest rate hike cycle draws to a close, the strategy of making sure to make a profit on the day of interest rate decisions has failed, but future interest rates have become more predictable. For investors, FX sees 2022 as a brutal year, but for most of that year, there is at least one investment that is sure to make money. All they have to do is buy stocks and bonds seconds before Federal Reserve Chairperson Jerome Powell delivers his post-interest rate decision press conference, and before he finishes his speech...