The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate
The dollar remains in retreat mode again today, continuing the downside momentum from last week. Equities managed to put on a good showing in US trading yesterday, keeping poised in aiming towards the highs of the year next as well. It’s all playing out as it should in what will be a holiday-shortened week for
Eurostoxx flat Germany DAX -0.1% France CAC 40 +0.3% UK FTSE -0.3% Spain IBEX +0.6% Italy FTSE MIB +0.1% It’s a more tentative one for equities with US futures also little changed and looking flattish now. But the dollar is not really taking much comfort in that as it sags lower to start the session
Milei, on the left, leads Massa in the final polls Latin America’s second largest economy heads to the polls today in a major election featuring an outsider taking on Peronist economy minister Sergio Massa. Javier Milei has made major waves in saying he would abolish the central bank and dollarize the economy. A similar experiment
The USDCHF is higher on the week, but the price action has been up and down, especially over the last 4 trading days. Technically, the price has been moving above and below technical levels like the: 200-day moving average currently at 0.8999, 100-hour moving average currently at 0.9044, and the 50% midpoint of the move
After a surprise pause in September here, the BOE has gotten away with making their job a little easier in communicating today’s policy decision. The thinking previously was to get one more rate hike in as they could still get away with it. But now that ship has sailed and we’re left staring at another
The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate
The EURGBP – a major cross-currency pair – has seen up-and-down price action today. The initial low found support near the low of a swing area and 0.86982. The subsequent move back to the upside took the price up to 0.8725 before rotating back down again to retest the low from earlier today. Now, the
The AUDUSD is in the midst of a down-and-up market today. The move to the downside did find support against the lows from yesterday near 0.62953 (and above the low from last week and 0.62858 too). The low price today reached 0.62967. The price rebound has moved up toward the high from the early Asian
The EURUSD did find support bars against its 200-hour moving average 1.05665 (green line on the chart below), and remained above its rising 100-hour moving average 1.05616 as well.. That’s a short-term tilt to the upside. The not so hot news is that the high price stalled near the 1.0600 level after extending above the
