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الرئيسيةالأخبار الأقتصاديةTrump says had some good talks with Iran, says had some real...
الأخبار الأقتصادية

Trump says had some good talks with Iran, says had some real progress

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Trump says had some good talks with Iran, says had some real progress.I posted on this earlier:Update – Iran and US wrapped up a fifth round of nuclear talks – “constructive”While soothing noisec are being made the two sides didn’t agree a date to meet again. —More from Trump:thinks the Senate will make significant changes to his tax billsays the EU asked for an extension and he agreed to move to July 9US steel will be controlled by the USWants a list of names of foreign students at HarvardThat last point above sounds scary.
This article was written by Eamonn Sheridan at www.forexlive.com.

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Trump agreed to extend EU tariff deadline to July 9, yen pops, EUR a little pop too
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Trump says had some good talks with Iran, says had some real progress.I posted on this earlier:Update – Iran and US wrapped up a fifth round of nuclear talks – “constructive”While soothing noisec are being made the two sides didn’t agree a date to meet again. —More from Trump:thinks the Senate will make significant changes to his tax billsays the EU asked for an extension and he agreed to move to July 9US steel will be controlled by the USWants a list of names of foreign students at HarvardThat last point above sounds scary.
This article was written by Eamonn Sheridan at www.forexlive.com.

المادة السابقة
Stand by for Globex opening at the top of the hour
المقالة القادمة
Trump agreed to extend EU tariff deadline to July 9, yen pops, EUR a little pop too
Fx Forsa
Fx Forsa

RELATED ARTICLES

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PBOC sets USD/ CNY reference rate for today at 7.1833 (vs. estimate at...

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The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.

Previous close was 7.1798

This is a change from the PBoC today, the 'damping' of the yuan has flipped.

more to come

This article was written by Eamonn Sheridan at www.forexlive.com.
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Trump’s tariff threat then backdown cycle – market sees “boy who cried wolf”

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A couple of snippets from analysts on Friday, that have proved prescient, comments indicating Trump's tariff threats being viewed as hollow.

Vanguard:

  • investors expect the steep 50% tariff proposal on imports from the E.U. to be negotiated down, similarly to what happened with China
  • market has slowed down now because it's happened before, and we know what happened before
  • "It's kind of like the boy who cried wolf"
  • administration is not crazy, they have a plan and there is a limit," to how far they will go

Barclays:

  • threats on the EU are ‘primarily a negotiating tactic’
  • "the US has not turned the page on tariffs and that more trade policy volatility lies ahead”
This article was written by Eamonn Sheridan at www.forexlive.com.
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PBOC is expected to set the USD/CNY reference rate at 7.1737 – Reuters...

الأخبار الأقتصادية

People's Bank of China USD/CNY reference rate is due around 0115 GMT.

The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.

How the process works:

  • Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.
  • The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
  • Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value.
This article was written by Eamonn Sheridan at www.forexlive.com.
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