News and Information

  A weaker dollar and signs of renewed volatility in foreign exchange markets on the back of higher interest rates have prompted investors to reassess the popular carry trade - investment strategies that exploit differences in borrowing costs between countries - and become more selective about which currencies to invest in. Carry trades - investment strategies that exploit differences in borrowing costs between countries - have paid off handsomely this year as most central banks have raised interest rates. Bank of America notes that the "most popular carry trade in the world" involves investors borrowing yen and converting it into Mexico.

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 27, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1265 yuan, 1 euro to 7.9208 yuan, 100 yen to 5.0895 yuan, 1 Hong Kong dollar to 0.91401 yuan, 1 pound to 9.2390 yuan, 1 Australian dollar to 4.8313 yuan, 1 New Zealand dollar to RMB...

  After being continuously "slapped in the face", economists are currently making a 180-degree shift in their forecasts for the economic outlook. This rare signal released by the market recently may also support their views... Top economists have made a 180-degree shift in their forecasts for the US economic outlook, and most people now doubt whether there will be a recession next year. According to a survey by the National Association for Business Economics (NABE), 71% of economists believe that the next 12 months...

  Gold trading reminder: the Federal Reserve's decision is coming! The market focuses on the attitude of the eagle pigeon and is wary of the strong dollar suppression. On Wednesday (July 26), spot gold fluctuated in a narrow range during the Asian session. It is currently trading at around $1963.42/ounce. The market is generally waiting for the Federal Reserve's interest rate decision at 2:00 am Beijing time on Thursday, and the market is more wait-and-see. In addition, Thursday and Friday will also usher in the European Central Bank's interest rate decision and the Bank of Japan's interest rate decision. The market expects the US to...

  Jeffrey Sherman, deputy chief investment officer at DoubleLine Capital, warned that the market should brace for a deep recession in the U.S. economy that would lead to a sharp 100 basis point cut in interest rates by the Federal Reserve. This is a bold forecast, based on weak economic data, Sherman believes the U.S. could fall into recession next year, although the Federal Reserve is expected to raise interest rates further this week. Money markets...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 26, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1295 yuan, 1 euro to 7.8850 yuan, 100 yen to 5.0629 yuan, 1 Hong Kong dollar to 0.91292 yuan, 1 pound to 9.2005 yuan, 1 Australian dollar to 4.8428 yuan, 1 New Zealand dollar to RMB...

  　　The Dow rose for an 11th straight day on Monday, setting a record for its longest streak of gains since February 2017. Bespoke Investments said it is very rare for the Dow to rise for 11 straight days, averaging less than once every 10 years since the end of World War II. On Monday, the Dow rose 183.55 points, or 0.52 percent, to 35,411.24. The S & P 500 rose 0.40 percent to 4554.64...

  Mathew Weller, head of global research at FOREX.com, said: "The support level of 1.2850 could lead to a rebound against the dollar by the end of the week, but if it falls below that level, it could continue to fall below 1.2700." Dominic Bunning, FX strategist at HSBC, said weaker-than-expected UK inflation in June should add to the near-term downward momentum in sterling. Gary Howes, market analyst...

  Bloomberg wrote an article looking ahead to this week's Federal Reserve FOMC interest rate meeting, saying that the Federal Reserve is set to raise interest rates by 25 basis points at the July meeting. Since the mid-June meeting, mixed economic data may have failed to quell the debate within the Federal Reserve about whether the July rate hike should be the last. Therefore, Powell's remarks at the press conference may appeal to both doves and hawks. He may point out that the economic outlook has brightened, and the process of falling inflation has further advanced...

  The core product of the Worldcoin project is the World ID, which the company calls a "digital passport" that can prove that its holder is a real human, not an artificial intelligence robot. To obtain the "World ID", customers need to use Worldcoin's "sphere" (a silver ball about the size of a bowling ball) for a face-to-face iris scan. Once the iris scan of the "sphere"...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 25, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1406 yuan for 1 US dollar, 7.9636 yuan for 1 euro, 5.0882 yuan for 100 yen, 0.91393 yuan for 1 Hong Kong dollar, 9.2263 yuan for 1 pound, 4.8511 yuan for 1 Australian dollar, and 4.8511 yuan for 1 New Zealand dollar.

  FXT believes that by some measures, the euro is at its highest level on record and could fall if the eurozone economy starts to suffer and forces the European Central Bank to turn dovish. The euro's so-called nominal effective exchange rate - which compares the euro to the currencies of its trading partners in the eurozone - has never been stronger. The euro is also near its highest level in three years against the renminbi, which could reduce the region's output at a time when a series of data points to a recession in Europe.

  　　The headlines that the global financial media paid attention to last night and this morning mainly include: 1. The world's major central banks will hold monetary policy meetings next week, and the Federal Reserve is ready to raise interest rates again. 2. The Federal Reserve's interest rate decision is forward: inflation is slowing, but the Federal Reserve dare not take risks. 3. The 60/40 portfolio of US capital markets is making a comeback? 4. US stock investors may take profits and stay away from technology stocks during the year. 5. Morgan Stanley on...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 24, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1451 yuan for 1 US dollar, 7.9880 yuan for 1 euro, 5.0670 yuan for 100 yen, 0.91400 yuan for 1 Hong Kong dollar, 9.2284 yuan for 1 pound, 4.8311 yuan for 1 Australian dollar, and 4.8311 yuan for 1 New Zealand dollar.

  The dollar index rose to a one-week high on Thursday after data showed an unexpected drop in initial jobless claims in the US last week, raising expectations that the Federal Reserve may continue to raise interest rates. Markets see a higher probability that the Federal Reserve will continue to raise interest rates after the widely expected 25 basis points rate hike next week. Economists remain divided on whether the European Central Bank will raise interest rates. UK year-on-year price growth slowed to 7.9% in June, the smallest in more than a year, which could ease pressure on the Bank of England to continue to raise interest rates sharply. North...