USD/CNH could still advance to 6.8500 and above – UOB
Share: Further gains could still lift USD/CNH to the 6.8500/6.8800 region in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “Our expectations for USD to edge lower did not materialize as it traded in a relatively quiet manner between […]
US President Biden says relations with China have not taken a big hit
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AUD/USD declines towards 0.6900 as Fed policymakers sound hawkish on rate guidance
Share: AUD/USD is eyeing more weakness to near 0.6900 amid hawkish Fed policymakers’ guidance. Fed Waller cited the battle to reach the 2% inflation target “might be a long fight”. The Australian Dollar will dance to the tunes of China’s inflation data. The AUD/USD pair has gauged an intermediate cushion around 0.6920 in […]
Biden’s dramatic warning to China
CNN — President Joe Biden starkly warned he will protect America against Chinese threats to its sovereignty and singled out President Xi Jinping – a striking escalation of a suspected spy balloon showdown during his State of the Union address. Biden called out Beijing on Tuesday before millions of viewers in the US and around […]
Further gains to 6.8500/6.8800 remain on the table – UOB
Share: While above the 6.7400 level, USD/CNH could challenge the 6.8500 region ahead of 6.8800, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: “We expected USD to trade within a range of 6.7800/6.8200 yesterday. USD subsequently traded between 6.7765 and 6.8070. The underlying tone […]
China says it will set up yuan clearing arrangements in Brazil By Reuters
© Reuters. FILE PHOTO: A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. REUTERS/Athit Perawongmetha/File Photo BEIJING (Reuters) – China’s central bank has signed a memorandum of understanding on setting up yuan clearing arrangements in Brazil, it said on Tuesday, […]
There isn’t enough copper in the world, shortage could last until 2030
A copper master and his copper products at the Coppersmith Bazaar in Baghdad, Iraq on March 15, 2022.Murtadha Al-Sudani | Anadolu Agency | Getty ImagesA copper deficit is set to inundate global markets throughout 2023 — and one analyst predicts the shortfall could potentially extend throughout the rest of the decade.The world is currently facing […]
Long-term trend remains tilted to the upside – SocGen
Share: The rally in EUR/USD came to a shuddering halt after the dovish market interpretation of the ECB rate decision. Still, economists at Société Générale note that the long-term points to the upside. Further profit-taking cannot be ruled out “Tactically, further profit-taking cannot be ruled out.” “The ECB may try to correct the […]
Aus-Sino trade and commerce ministers conducted pragmatic, candid exchanges
China’s Commerce Ministry said in a statement on Monday that Australian and Chinese trade and commerce ministers conducted pragmatic and candid exchanges. Additional comments Australia and China trade ministers held virtual meeting on Feb 6. China, Australia are important economic, trade partners. Bilateral economic, trade cooperation is mutually beneficial. Two sides should work together to […]
Working with China to resume full trade
Australian Trade Minister Don Farrell said on Monday he will travel to Beijing at China’s invitation, as they are working with China to resume full trade. Additional comments Will meet Chinese counterpart soon. The two have agreed to enhance dialogue at all levels, including between officials as a pathway towards a timely and full resumption […]