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PBoC sets USD/CNY reference rate at 7.1056 vs 7.1058 previous
Source Fxstreet
On Friday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1056 as compared to the previous day's fix of 7.1058 and 7.2396 Reuters estimates.
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Gold price (XAU/USD) declines to near $4,450 during the early Asian trading hours on Thursday. The precious metal loses momentum as traders book profits after a recent rally. Later on Thursday, the weekly US Initial Jobless Claims data will be released.
Gold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.