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The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1729 as compared to the previous day’s fix of 7.1761 and 7.1916 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The…

The Australian Unemployment Rate is forecast to have held steady at 4.1% in May. Employment Change is expected to post a modest 25K advance after a 89K gain in April.The Australian Dollar should benefit from upbeat figures regardless of the market’s sentiment. The Australian Bureau of Statistics (ABS) will release the May monthly employment report at 01:30 GMT on Thursday. The country is expected to have added 25K new job positions, while the Unemployment Rate is projected to hold steady at 4.1%. Ahead of the announcement, the Australian Dollar (AUD) retains its overall strength, and the AUD/USD pair trades near…

GBP/USD climbs to 1.3452 as traders digest US jobless claims and housing slump.UK inflation cools slightly; core CPI dips to 3.5% YoY in May.Fed and BoE expected to hold rates; dot plot, projections under market spotlight.The GBP/USD recovers some ground on Wednesday as traders await the Federal Reserve’s (Fed) monetary policy decision, amid heightened tensions in the Middle East and the release of jobless claims data in the US. At the time of writing, the pair trades at 1.3452, up 0.19%.Sterling gains modestly as traders brace for central bank updates and weigh soft US housing dataThe financial markets remain stressed…

Gold could eat into the share of the US dollar in central bank forex holdings worldwide over the next five years, an annual World Gold Council (WGC) survey showed, underscoring a broad-based tilt toward safe-haven assets in a trading environment rocked by geopolitics and unpredictable trade tariffs. The yuan and the euro, too, might see share gains that reflect the shifting trade currents.“Nearly half of the central bank respondents intend to increase their own gold holdings in the coming year,” said Shaokai Fan, Global Head of Central Banks & Head of Asia-Pacific (ex-China). “This is remarkable, especially considering how many…

USD/CAD trades near 1.3575 as markets digest a mixed US Retail Sales ahead of Wednesday’s Fed rate decision.Elevated Oil prices and geopolitical risks in the Middle East limit losses for the Canadian Dollar.USD/CAD remains in a descending wedge, while the Relative Strength Index signals a pause in bearish momentum.The Canadian Dollar (CAD) is holding its ground against the US Dollar (USD) on Tuesday, with USD/CAD moving sideways near 1.3575.Mixed signals from the latest US Retail Sales data and escalating tensions in the Middle East on Tuesday continue to keep traders cautious as the Federal Reserve’s (Fed) policy meeting looms.The pair…

Gold moves toward $3,400 ahead of Wednesday’s Fed interest rate decision.Israel-Iran hostilities intensify, supporting Bullion’s safe-haven appeal.XAU/USD edges higher as the US Dollar remains under pressure.Gold moves higher against the US Dollar (USD) on Tuesday as traders digest mixed US Retail Sales data and monitor escalating tensions in the Middle East. At the time of writing, XAU/USD is trading around $3,392, supported by rising safe-haven demand amid renewed geopolitical risks.The latest US Retail Sales report delivered mixed signals. Headline sales fell 0.9% in May, a steeper drop than the expected 0.7% decline and the sharpest contraction since early 2024. Sales excluding…

Industrial Production in the US declined by 0.2% in May.The US Dollar Index holds steady at around 98.00 after the data.Industrial Production in the United States (US) contracted by 0.2% on a monthly basis in May, the data published by the Federal Reserve showed on Tuesday. This reading followed the 0.1% growth recorded in April and came in worse than the market expectation for an expansion of 0.1%.Other details of the report showed that manufacturing output rose by 0.1% in this period. Meanwhile, the Capacity Utilization declined to 77.4% from 77.7% in April. Market reactionThe US Dollar Index holds steady…

USD/INR trades near 86.42, touching its highest level since April amid persistent geopolitical tensions.Escalating Iran-Israel conflict and Trump’s evacuation call lift safe-haven demand, pressuring emerging market currencies.Firm WTI Crude and weak Indian equities raise concerns about wider FII outflows, adding to the Rupee’s downside.Traders are eyeing US Retail Sales and the Fed’s decision for fresh cues on the US Dollar’s direction.The Indian Rupee (INR) weakens against the US Dollar (USD) on Tuesday, giving up Monday’s modest rebound as heightened geopolitical tensions in the Middle East, stronger Crude Oil prices, and a resilient Greenback dampen sentiment ahead of the Federal Reserve’s…

The local unit fell despite the dollar staying weak The rupee depreciated one-fifth of a per cent against the dollar and closed at 86.25 on Tuesday. Thus, the Indian currency has lost about three-fourth of a per cent over the past week as it had closed at 85.62 on June 10.The local unit fell despite the dollar staying weak. This was largely due to the spike in oil prices triggered by the Israel-Iran conflict. The Brent crude oil futures ($74.70/barrel) has risen nearly 12 per cent so far this week.As the hostilities continue, the oil prices can remain elevated, a…

Retail Sales in the US fell more than expected in May.The USD Index stays in a tight daily range near 98.00.Retail Sales in the United States (US) declined by 0.9% in May to $715.4 billion, the US Census Bureau announced on Tuesday. This reading followed the 0.1% decrease (revised from +0.1%) recorded in April and came in worse than the market expectation for a contraction of 0.7%. On a yearly basis, Retail Sales were up 3.3%, compared to 5% in April.”Total sales for the March 2025 through May 2025 period were up 4.5% from the same period a year ago,”…