USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
China is cautious on rates this time notwithstanding Fed lift
On Thursday, China's major financial institution left interest rates for open market operations intact, shrugging off an overnight soar in the Fed’s key policy rate.
The People's Bank of China didn’t provide comments on its rationale for keeping rates intact, after it followed a Fed lift within hours in March.
However, the Chinese Yuan is currently on steadier footing, while domestic liquidity conditions happen to be relatively tight.
Financial markets had been divided as for whether the PBOC would lift short-term rates once again in lockstep with the major US bank. By the way, China's short-term money rates along with bond yields have already been ascending.
Market participants pointed out that in June liquidity turns to be traditionally tight, and they still remember a cash crunch in 2013, which sent money rates up and shocked global markets.
The Chinese Yuan has ascended 2.3% so far this year, having dropped 6.5% last year.
Similar
NVIDIA to Become the Next Tesla
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Progress in US Debt Talks, Gold Is Down
Some progress in US debt ceiling talks is made, and the PMI data is out.
Latest news
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
US Evades Default This Time
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
