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 7.1102 vs. 7.1098 previous
Source Fxstreet
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1102, as against the previous day's fix of 7.1098 and 7.2539 Reuters estimates.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
On October 15, US Eastern Time, the U.S. is set to release the September Producer Price Index (PPI). The September CPI released this Wednesday was notably higher than market expectations,
Spot gold flushed to $4,099.89, a whisker above October's $4,090 low, then rebounded to close at $4,138.25 (+0.82%) — even as US CPI ran hot. Bank of America sees gold below $4,000 within three months, citing shrinking demand and official-sector selling. Here are the levels, the drivers and what would flip the script.
September CPI landed hot: headline 3.7% y/y, core 2.6% y/y and 0.3% m/m. October hike odds jumped from ~22% to ~37% — yet the dollar faded to 101.74, gold closed higher and the S&P 500 fell 1.11%. Here is the full repricing, the levels and what to watch next.
On October 14, Eastern Time, U.S. September CPI data came in higher than market expectations, fueling expectations of a Fed rate hike in October and dampening mar