NZD/USD recovers from the one-month low hit last Friday. The PBoC moves to further ease policy and gives a boost to the antipodeans, including the kiwi. Sustained dollar buying and recession fears limit any significant rise in the pair. The pair NZD/USD gains some positive traction on Monday and breaks a five-day losing streak to […]
Tag: PBOC
AUD/USD stalls recovery below 0.6930 on stronger dollar
AUD/USD manages to rise on Monday despite falling markets. The Aussie cut a streak of five days in a row with casualties. Lower rates in China favored the AUD, but the negative market environment limits strength. The AUD/USD starts the new week on a positive note and breaks a five-day losing streak, recovering from one-month […]
China: We are committed to keeping the economy within reasonable limits
The National Development and Reform Commission of Chinathe country’s state planner, reiterated Tuesday that “we are committed to keeping the economy within reasonable limits“. Featured Comments Macroeconomic policies must be strong, reasonable and moderate to actively expand demand. Approved 65 fixed asset investment projects totaling 1.028 trillion yuan in January to July. Approved 8 fixed […]
Steel: Renews its monthly maximum due to moderation on fears of China’s covid
Steel price renews monthly high as China does not please bulls. PBOC rate cut contrasts with softer data testing metals buyers, lack of loan demand renews recession fears. Weak US dollar adds filters to steel trade, Shanghai eases covid restrictions, favoring bulls. The basket of metals remained surprisingly firmer, despite risk-negative headlines coming out of […]
PBoC: China to step up ‘prudent’ monetary policy
“China’s economy faces downward pressure due to COVID-19 and external shocks, and the central bank will ‘increase the implementation of prudent monetary policy’ to support the real economyGovernor Yi Gang of the People’s Bank of China (PBoC) told Reuters over the weekend. The news adds that PBoC Governor Yi made the remarks via video conference […]
PBoOC will boost credit support for economic growth – MNI
The People’s Bank of China (PBoC) guide commercial banks to continue to increase credit support and reduce borrowing costs in the real economy amid a waning recoveryMNI reports on Wednesday, citing central bank officials. Additional comments The PBoC will make it easier for lenders to reduce the real costs of borrowing through the reduction of […]
AUD/USD recovers early losses and climbs to fresh daily highs above 0.7050
AUD/USD recovers from an initial drop towards 0.7000 and rises to fresh daily highs. A good recovery in the stock markets weighs on the safe haven USD and offers support to the pair. Recession fears should curb any bullish moves in the markets and limit the pair’s gains. The pair AUD/USD has regained ground lost […]
China cuts five-year loan rates by 15 basis points
China has kept the interest rate on one-year loans unchanged at 3.70%.as reported by the People’s Bank of China. The entity has lowered the prime rate on 5-year loans by 15 basis pointsreducing it to 4.45%compared to 4.60% the previous month. This follows a further cut in mortgage interest rates for some homebuyers, in a […]
PBoC calls for growth-boosting policy as yuan plunges to yearly lows
Wang Yimingmember of the monetary policy committee of the People’s Bank of China (PBoC), asks the government to enact stronger policy measures to stimulate growth above 5% in the second quarteraccording to Bloomberg. Featured Statements “Reaching that benchmark in the April-June period is critical if China is to meet the government’s gross domestic product growth […]
PBoC surprises markets by leaving rates unchanged
The People’s Bank of China (PBoC) has left the 1-year loan premium rate unchanged at 3.70%. (estimated at 3.65%). Also has left the 5-year loan premium rate unchanged at 4.60% (4.55% estimate). According to the Reuters poll a reduction was expected. “The Loan Principal Rate (LPR), which banks normally charge their best customers, is set […]