Asia shares wobble, oil prices climb and gold makes a comeback
Asian stocks were on shaky ground on Wednesday, following steep losses in U.S. and European equities on fears that advancements in artificial intelligence could supplant traditional software.
EUR/USD Holds Steady Above 1.1800 Ahead of Eurozone CPI and US Data Releases
The EUR/USD currency pair consolidates above the 1.1800 level as traders await key economic data from the Eurozone and the US, including inflation figures. Market participants are cautious ahead of these releases, which could influence short-term forex market movements.
China's Composite PMI Rises to 51.6 in January, Signaling Economic Expansion
S&P Global/Ratingdog reports that China's composite Purchasing Managers' Index (PMI) increased to 51.6 in January from 51.3 in the previous month, indicating continued growth in the manufacturing and services sectors. This rise suggests sustained economic expansion in China at the start of the year.
China's January Services PMI Slightly Exceeds Expectations at 52.3
China's General Services Purchasing Managers' Index (PMI) for January came in at 52.3, slightly above the previous 52 and the estimated 52, indicating modest expansion in the services sector. This suggests steady growth momentum in China's service industry at the start of the year.
NZD/USD in range awaits upside breakout, as RBNZ outlook holds after job data
NZD/USD is trading steadily in range after New Zealand's Q4 employment data delivered few surprises for policy expectations. The mixed report offered early hints of stabilization but stopped well short of forcing a rethink at the RBNZ.
USD/CNY Opens Lower at 6.9350 Amid Slight Depreciation
The USD/CNY currency pair opened at 6.9350, down from the previous session's 6.9397, indicating a slight depreciation of the US dollar against the Chinese yuan. This movement reflects ongoing market adjustments in the foreign exchange rates between the two currencies.
China’s Central Bank Lowers USD/CNY Reference Rate by 78 Pips to 6.9533
The People's Bank of China set the USD/CNY reference rate at 6.9533, marking a 78-pip decline from the previous fixing. This adjustment indicates a strengthening of the Chinese yuan against the US dollar in the interbank market.
PBOC sets USD/CNY reference rate at 6.9533 vs. 6.9608 previous
PBOC sets USD/CNY reference rate at 6.9533 vs. 6.9608 previous
EUR/USD consolidates above 1.1800 as trades await Eurozone CPI and US data
EUR/USD consolidates above 1.1800 as trades await Eurozone CPI and US data
USD/JPY strengthens above 155.50 on Japan's political uncertainty
USD/JPY strengthens above 155.50 on Japan's political uncertainty