Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.
PBoC sets USD/CNY reference rate at 7.1046 vs 7.1020 previous
Source Fxstreet
On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1043 as compared to Friday's fix of 7.1046 and 7.2359 Reuters estimates.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.
US Q3 GDP rose 3.4%, above the 3.1% estimate, while September headline PCE hit 3.6% and core held at 3.1%. December hike odds are near 90%; inventories, AI capex and energy explain why.