USD/CNH snaps four-day uptrend around 6.7700 despite PBOC inaction
USD/CNH consolidates weekly gains with mild daily losses. PBOC keeps one-year, five-year Loan Prime Rates (LPRs) unchanged. US Dollar’s inability to cheer hawkish Fedspeak weigh on prices amid cautious optimism. USD/CNH remains pressured around 6.7700, printing the first daily loss in a week, as trades react to the People’s Bank of China’s (PBOC) status quo […]
Wall Street Snaps Losing Streak with Modest Gains
Wall Street ended a four-day sell-off on Tuesday, with the Nasdaq, S&P 500 and Dow Jones all posting modest gains of 0.01%, 0.10% and 0.28% respectively. Meanwhile, US Treasury yields continued to rise, with 10-year bond yields hitting their highest level of the month. One of the overriding themes this year has undoubtedly been energy […]