PBOC fixing signals discomfort with yuan's pace of gains
PBOC set its widest weak-side fixing deviation in six months after yuan hit 3.5-year high, signaling concern over pace of gains.
PBOC set its widest weak-side fixing deviation in six months after yuan hit 3.5-year high, signaling concern over pace of gains.
RBA Governor Bullock testified that inflation risks flagged in August are materialising, with Middle East conflict and AI boom pushing up prices.
Japan's headline CPI came in at 1.9% y/y in August, below the 2.0% forecast. Core-core CPI also missed expectations at 1.7%.
New Zealand's August trade deficit was -1349mn, with imports at 8bn and exports at 6.66bn. Food price inflation held at 1.9% y/y, unchanged from July.
The Fed raised rates by 25 bps to 3.75-4.0%, a unanimous vote under Warsh. Analysts split on inflation's duration, with UBS seeing gold pressure near-term but…
RBA Governor Michele Bullock appears before parliament as markets assign a 70-75% probability to a rate hike at the September meeting.
The Federal Reserve raised rates, but bitcoin traded higher; Grayscale believes the hike is a mid-cycle adjustment that won't disrupt crypto markets.
The Bank of Japan is expected to raise rates to 1.25% at today's meeting, with attention on Ueda's guidance and the yen's reaction.
Asia's Friday calendar features Japan's August CPI and a BoJ rate decision, plus RBA Governor Bullock speaking. A hike is widely expected.
Wall Street surged, led by the Nasdaq, as falling Treasury yields boosted technology shares and semiconductors.
An analysis examines five factors that may keep inflation elevated: the Iran war, AI spending, consumer resilience, immigration, and government spending.
Silver rose 4.5% as yields fell and sellers failed to hold below the 50% retracement; the 100-day moving average near $66.75 is the next key resistance.
Ex-Atlanta Fed chief Bostic says persistent price shocks and strained households make inflation a bigger concern than employment.
The FOMC raised rates to 3.75-4.00% as expected, with markets pricing three more hikes. The smallest hiking cycle in history was 137 basis points in 1986-87.
Bailey says rate decisions grow harder the longer the Iran conflict lasts; inflation risks still subdued; four hikes not discussed.