|Day's range||7.082 - 7.101|
|52-week range||6.6648 - 7.1839|
The markets are calm in early Wednesday trade. The Chinese, Australian and New Zealand currencies are all showing limited movement in the Asian session. With the U.S. releasing retail sales reports later in the day, we could see stronger market movement in the North American session.
Investing.com -- Hopes for a limited trade deal spark a modest bounce in stocks, while Turkey gets ready to invade Syria and the Federal Reserve prepares to release the minutes from its last policy meeting. Here's what you need to know in financial markets on Wednesday, 9th October.
As U.S. and Chinese negotiators reportedly gear up for trade talks in Washington, D.C. next month, President Trump’s impeachment probe remains top of mind for investors.
U.S. stocks finished a tempestuous session lower but off the New York session bottoms as the most recent political disorder in D.C., and the latest on trade not only tossed a wet blanket on demand for riskier assets but has shrouded the market in a thick layer of confusion.
Investing.com - The Japanese yen was little changed against the U.S. dollar on Tuesday in Asia. Developments on the U.S.-Japan trade front were in focus after reports suggested that the negotiations might have hit a last-minute snag.
The Fed cut its benchmark interest rate 25-basis points as widely expected for the second time since July, as concerns grow about a potential global economic slowdown. The PBOC cut its new one-year benchmark lending rate for the second month in a row on Friday.
Investing.com -- The British pound surged to new highs against the euro and dollar Friday on optimism that the U.K. and EU will avoid a disorderly Brexit on Oct. 31, although the basis of such hopes remained open to question.
The currency markets have been quiet on Tuesday, with the pound, Canadian dollar and Mexican peso showing limited movement. However, the Fed meeting on Wednesday could trigger some movement. As well, investors will be keeping a close eye on CPI releases in Canada and the U.K.
Investing.com - The Chinese yuan inched up against the U.S. dollar on Wednesday in Asia after Beijing scrapped foreign quota and allowed unfettered access to the stock markets.
Stocks and risk assets opened relative composed despite data released on Sunday, which showed China’s exports unanticipatedly shrunk with sales to the US plunging 16 per cent as trade wars grumble.
This morning, Asian stocks show growth, following yesterday’s strong American session. The MSCI Asia Pacific Index has been rising as high as possible since June, adding 0.4%. The yuan’s offshore exchange rate fell 0.1% to 7.1478, while it was this instrument that was considered China’s most powerful weapon against duties in the trade war.
The bitter trade dispute between the U.S. and China escalated last week, as the two countries slapped each other with new tariffs on September 1. The U.S. imposed new 15% tariffs on $125 billion worth of Chinese goods, while retaliated with new tariffs of 5% and 10% on an unspecified value of U.S. goods, including oil imports.
Investing.com -- Gold prices edged higher on Tuesday as a combination of nerves over Brexit, Hong Kong and U.S.-China relations all kept haven assets well bid and risk assets on the defensive.