News and Information
Hawkish Fed officials want to defect? Kashkari: Banking crisis exacerbates US recession risk
Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, acknowledged that the recent banking turmoil has indeed increased the risk of a recession in the United States, but it is too early to tell what this means for the economy and monetary policy. Asked on a program on Sunday whether these pressures will tip the United States into recession, he said, "It will definitely bring us closer to recession." "What we don't know is that these...
Foreign exchange trading alert: European banking industry concerns linger, wary of the continued decline of the euro and the pound
The dollar, which strengthened against the euro and sterling, fell sharply on Friday as nervousness about banks lingered. European bank stocks fell sharply, and banking giants Deutsche Bank and UBS fell sharply on fears that the worst problems facing the sector since the 2008 financial crisis have not been contained. The dollar index closed up 0.40% at 103.03 on Friday. The euro closed down 0.48% at 1.0774 against the dollar on Friday. FXStreet.co...
On March 27, 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 March 27, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 6.8714 yuan for 1 US dollar, 7.4038 yuan for 1 euro, 5.2554 yuan for 100 yen, 0.87540 yuan for 1 Hong Kong dollar, 8.4141 yuan for 1 pound, 4.5703 yuan for 1 Australian dollar, and 4.5703 yuan for 1 New Zealand dollar.
Foreign exchange trading reminder: The dollar has stabilized after falling for five consecutive days, so pay attention to PMI data
At the beginning of the Asian market on Friday (March 24), the US dollar index fluctuated narrowly, and is currently trading around 102.65. After falling for five consecutive trading days, the US dollar index bottomed out on Thursday and rebounded. Although the US Federal Reserve issued a sound that it was close to stopping interest rate hikes, while the Swiss National Bank and the Bank of England advanced further interest rate hikes, concerns about the banking industry still provided safe-haven support for the dollar. This trading day will usher in the March PMI data of European and American countries, and investors...
On March 24, 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 March 24, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 6.8374 yuan for 1 US dollar, 7.4069 yuan for 1 euro, 5.2286 yuan for 100 yen, 0.87107 yuan for 1 Hong Kong dollar, 8.3977 yuan for 1 pound, 4.5671 yuan for 1 Australian dollar, and 4.5671 yuan for 1 New Zealand dollar.
Jewelry gold prices have soared, and gold trading prices are now at an inflection point. Can consumers still buy them?
The gold market has ushered in a price inflection point against the backdrop of continued gains. On March 22, according to the Au99.99 market released by the Shanghai Gold Exchange, the closing price on that day was 434.14 yuan/gram, which is also a decline after 10 consecutive days of gains. At the same time, a reporter from Beijing Business Daily visited a number of jewelry brand stores and saw that the current gold price of pure gold jewelry exceeded 570 yuan, and jewelry and investment gold bars all rose significantly compared to the Spring Festival. Beijing...
Markets prepare for the Federal Reserve's interest rate hike, Asian foreign exchange is quietly lower, and the dollar is sluggish
Most Asian currencies retreated in cautious trading on Wednesday as markets braced for a possible rate hike by the Federal Reserve later in the day, even as fading fears of a banking crisis sent regional currencies edging lower. With inflation still well above the central bank's target rate, the Fed is expected to raise interest rates by 25 basis points. The market has a more than 80 percent chance of the bank raising rates later in the day, according to Fed funds futures prices. But the dollar saw limited support on Wednesday,...
On March 23, 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 March 23, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 6.8709 yuan for 1 US dollar, 7.4675 yuan for 1 euro, 5.2349 yuan for 100 yen, 0.87554 yuan for 1 Hong Kong dollar, 8.4340 yuan for 1 pound, 4.5999 yuan for 1 Australian dollar, and 4.5999 yuan for 1 New Zealand dollar.
Global central bank gold holdings: background, trends and implications
Source: "China Foreign Exchange" author | Cheng Shi, ICBC International Chief Economist Wu Xiaomeng, Central University of Finance and Economics China Institute of Economics and Management Key emerging market economies The central bank will still increase its holdings of gold in the foreseeable future, but the magnitude will return from the ultra-high level in 2022 to the normal trend. This move will reduce the dependence of the international financial system on the US dollar and help accelerate the change of the global monetary pattern. Since 2022, in geopolitical risks and overall...
With gold spreads as low as 0, FXTM empowers investors to easily capture profit opportunities
The diversification of central banks' foreign exchange reserves has become a major trend. In the context of rising gold prices, more and more investors have turned to the gold market to start investing in gold. There are many investment trading platforms on the market, and there are still many black platforms that fake regular platforms mixed in. Therefore, investors need to be particularly cautious when choosing gold trading platforms. If you want to invest in gold safely and in compliance, you may wish to choose the well-known and reputable FXTM Gold Trading...
On March 22, 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 March 22, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 6.8715 yuan for 1 US dollar, 7.4012 yuan for 1 euro, 5.1937 yuan for 100 yen, 0.87562 yuan for 1 Hong Kong dollar, 8.3982 yuan for 1 pound, 4.5839 yuan for 1 Australian dollar, and 4.5839 yuan for 1 New Zealand dollar.
Investors digested Credit Suisse's bailout and focused on U.S. regional banks, sending the dollar to a more than one-month low
On Tuesday (March 21), the low of the US dollar index fluctuated in a narrow range at the beginning of the Asian market, and is currently trading around 103.34. The dollar fell 0.4% on Monday and hit a fresh intraday low of 103.27 since February 15, as market concerns cooled after UBS bought its struggling rival Credit Suisse at a low price, hitting the safe haven demand of the dollar. UBS agreed to buy Credit Suisse for 3 billion Swiss francs (3.23 billion dollars) on Sunday,...
On March 21, 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 March 21, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 6.8763 yuan for 1 US dollar, 7.3703 yuan for 1 euro, 5.2353 yuan for 100 yen, 0.87721 yuan for 1 Hong Kong dollar, 8.4421 yuan for 1 pound, 4.6163 yuan for 1 Australian dollar, and 4.6163 yuan for 1 New Zealand dollar.
Rise! Rise! Rise! The biggest weekly increase in two years, the price of gold is approaching $2,000! Why do global central banks frequently buy?
The international gold price is approaching the $2,000 mark, just one step away from the historical high of two years ago. This week, the rise in risk aversion has led to a sharp rise in safe-haven assets such as precious metals. Gold futures in New York rose by about 5.7% in a week, the largest weekly increase since April 2020, while silver futures rose by 10.41% in a week. With some banks in the United States and Europe falling into crisis one after another, the Federal Reserve's interest rate hike expectations have reversed significantly, and the Federal Reserve's policy is in a daze. Dollar credit...
UBS to 3 billion Swiss francs acquisition of Credit Suisse, safe-haven cooling dollar short-term or under pressure
On Monday (March 20), the Asian market early, the dollar index fluctuated narrowly, currently trading around 103.82. On Friday, the dollar index fell 0.66%, the banking crisis in Europe and the United States made the market expect that the Federal Reserve will cut interest rates before July. In addition, as various European and American Financial Institution Groups responded to the banking crisis, especially after the Swiss Central Bank injected 54 billion dollars into Credit Suisse, the market's safe-haven buying demand for the dollar also weakened. The latest news shows that in the Swiss government...
