Central Banks
Central Banks

Central Banks

15
Aug

China Stats Bureau Spokesperson cites economic recovery, major state-owned banks sell Dollars to defend Yuan

Early Tuesday morning, Reuters cites an anonymous source to state that China’s major state-owned banks were seen selling US Dollars to buy China Yuan (CNY) in the onshore spot foreign exchange (Forex) market. The news came in after the People’s Bank of China (PBoC) surprisingly cut the benchmark rates and fueled the USD/CNY to the […]

Share This Post
14
Aug

Russian Ruble plunges beyond 100.00 against US Dollar amid multiple headwinds

Russian Ruble prints a fresh 16-month low against the US Dollar due to weak economic outlooks. The USD/RUB pair climbed above the psychological resistance of 100.00 on Monday, extending YTD losses by 38%. The asset remains under pressure as the Russian economy is facing multiple headlines such as sanctions from developed economies, being in a […]

Share This Post
14
Aug

US Dollar steady as markets shake off global growth concerns

The US Dollar (USD) trades sideways after it continued where it left off Friday evening at the US closing bell. The Greenback-favored sentiment this Monday is built on the once again disappointing numbers out of China. With Country Garden, an even bigger real estate developer than Evergrande, on the brink of collapse, Chinese loan data pointed […]

Share This Post
14
Aug

Pound Sterling rebounds as focus shifts to employment data

The Pound Sterling (GBP) strengthens amid upbeat Q2 Gross Domestic Product (GDP) and factory data for June. The GBP/USD pair faces headwinds from bearish market sentiment ahead of the British employment data, which will be released on Tuesday at 6:00 GMT. Stellar recovery in United Kingdom’s Q2 GDP data makes Bank of England (BoE) policymakers more comfortable in raising interest rates […]

Share This Post
08
Aug

GBP/JPY surrenders a major part of its intraday gains, up a little below mid-182.00s

The GBP/JPY cross climbs to a four-day high on Tuesday, albeit struggles to capitalize on the momentum and fails ahead of the 183.00 round-figure mark. Spot prices erase a major part of the intraday gains and retreat to the 182.35-182.30 region during the early part of the European session. Data released earlier today showed that […]

Share This Post
08
Aug

Chart of The Day USD/JPY

The Bank of Japan (BoJ) clarified that its recent yield curve adjustment, announced on July 28th, was intended to sustain the current loose monetary policy rather than indicate policy normalization. The BoJ allowed the 10-year Japanese Government Bond yield to trade above 0.5% in a flexible manner, deviating from a strict cap approach. Despite global […]

Share This Post
08
Aug

EUR/GBP consolidates in a narrow range around 0.8620, investors await UK GDP

The EUR/GBP pair oscillates in a narrow range around 0.8620 heading into the early European session on Tuesday. Market players await the UK Gross Domestic Product (GDP) Q2 for fresh impetus. The growth rate is expected to grow by 0.2% on a yearly basis. The latest data from Destatis showed on Tuesday that the German […]

Share This Post
07
Aug

Euro meets some selling pressure and retreats below 1.1000

The Euro (EUR) starts the week with an offered bias against the US Dollar (USD) and forces EUR/USD to revisit the sub-1.1000 region in the wake of the opening bell on the old continent on Monday. On the flip side of the coin, the Greenback manages to regain traction after two consecutive daily pullbacks, regaining at the same […]

Share This Post
07
Aug

USD/JPY Price Analysis: Gains momentum above 143.30 mark

The USD/JPY pair reverses Friday’s pullback and holds ground around 142.22 heading into the early European session on Monday. According to a summary of the opinions of the Bank of Japan (BoJ) released on Monday, one board member said that wages and prices could keep rising at a pace not seen in the past. BoJ policymakers added […]

Share This Post
07
Aug

GBP comes under severe pressure amid BoE’s aggressive rate-tightening spell

The Pound Sterling (GBP) sold off after failing to test the crucial resistance of 1.2800 as higher interest rates by the Bank of England (BoE) started deepening recession fears. The GBP/USD pair drops significantly as higher interest rates are threatening the United Kingdom’s economic outlook. The UK’s strong labor market is loosening its resilience as firms slow down […]

Share This Post