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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.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday.
Gold price (XAU/USD) gains ground to near $4,575 during the early Asian session on Tuesday. The precious metal edges higher as hopes for US-Iran peace negotiations weakened the US Dollar (USD).