The latest Consumer Price Index (CPI) report from China for July has provided valuable insights into the current state of the Chinese economy. The report revealed some interesting trends that could have significant economic implications both domestically and globally. CPI and Inflation Trends According to the report, headline inflation in China increased modestly by 0.3
Forex News
The GBP/USD pair has been extending its upside, trading around 1.2770 during the early European hours. This appreciation for the second successive day on Friday can be attributed to the rising expectations of the US Federal Reserve (Fed) implementing a rate cut in September. According to the CME FedWatch tool, markets are now fully pricing
Jeffrey Schmid, from the Federal Reserve Bank of Kansas City, emphasized the importance of lowering monetary policy if inflation continues to come in low. This adjustment is deemed necessary in order to maintain economic stability and ensure that the dual mandate of the Fed is met. The current stance of Fed policy was described as
The Australian Dollar (AUD) surged to near 0.6580 as the Reserve Bank of Australia (RBA) reiterated its hawkish stance in Thursday’s trading session. This marked an increase of 0.80% in the AUD/USD pair, driven by the RBA’s commitment to keeping interest rates steady at 4.35% while remaining vigilant of potential inflation risks. Additionally, the rise
The NZD/USD pair has seen a surge in buying pressure after the release of upbeat employment details in New Zealand. The employment data showed an increase in the number of employed people by 0.4% in the second quarter, surpassing market expectations. This positive data has led to a reduction in the likelihood of a rate
In a recent turn of events, the GBP/JPY pair saw a significant rally of over 400 pips intraday after remarks made by Bank of Japan (BoJ) Deputy Governor Uchida. This surge was further fueled by a positive risk tone in the market, which undermined the safe-haven status of the Japanese Yen (JPY) and provided additional
Following a turbulent Monday, the US Dollar (USD) managed to bounce back on Tuesday, hovering near the 103.00 mark. The recovery was fueled by an improvement in market sentiment, with the DXY Index showing gains. This positive trend was also supported by the absence of news regarding the Middle Eastern conflict between Iran and Israel,
RBA Governor Michele Bullock recently spoke at a press conference following the central bank’s August monetary policy decision. During the conference, she highlighted the key aspects discussed by the board, emphasizing the importance of maintaining the current interest rate at 4.35%. Bullock also expressed concerns about the slow progress in reaching the inflation target and
The US Dollar (USD) took a significant hit following the release of the disappointing July jobs report, leading to increased speculation about a rate cut by the Federal Reserve in September. The DXY index, which measures the strength of the USD, plummeted to lows not seen since March, hovering around 103.20. This downward trend reflects
The price of West Texas Intermediate (WTI) crude Oil has seen a slight increase, hovering around $76.50 per barrel during Asian trading hours. One of the key drivers behind this rise has been the escalation of geopolitical tensions in the Middle East. With Iran’s reaction to the assassination of Hamas leader Ismail Haniyeh in Tehran,
DSYNC Destra Network is a project that aims to revolutionize the cloud solutions industry by incorporating AI computing mechanisms and cutting-edge technologies such as IPFS and ENS. In this article, we will delve into the daily Elliott Wave structure of the DSYNC token and speculate on its potential outcomes. In March 2024, DSYNC reached a
EUR/GBP has seen an increase in value around 0.8450 during the early European trading session on Thursday. This gain of 0.35% on the day is attributed to the hotter-than-expected Eurozone inflation data. The unexpected rise in inflation has led to doubts about the European Central Bank’s (ECB) plans for interest rate cuts in September. As