The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a +/- 2% range, around a central reference rate, or “midpoint.” The rate set under 7 today for the first time since May 2023. Previous close 6.9672 PBoC injects 125bn yuan through 7-day reverse repos at
The manufacturing sector in Japan expanded in January, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 51.5. That’s up from 50.0 in December, which was right on the boom-or-bust line that separates expansion from contraction. The report also showed that the services PMI improved to 53.4 from 51.6
Japan’s National Consumer Price Index (CPI) rose by 2.1% YoY in December, compared to the previous reading of 2.9%, according to the latest data released by the Japan Statistics Bureau on Friday. Further details unveil that the National CPI ex Fresh food arrived at 2.4% YoY in December versus 3.0% prior. The figure came in line with
Thursday’s session is front-loaded with Asia-Pacific inflation and activity data. New Zealand CPI gets released in a few minutes, followed by Australia’s flash PMIs, setting the tone for regional growth expectations. Attention then turns squarely to Japan in the evening, with national CPI prints ahead of the BoJ rate decision, policy statement and outlook report
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The S&P 500 already closed the gap but with earnings, you know… you never know. It’s always a tricky event with risk, everyone’s got an opinion, especially us with ourself, and everyone’s got good explanations about why it should go up. Or why it would go down. Then when the report is out, it gets
Euro area consumer sentiment improved in January to its highest level in nearly a year, preliminary survey data from the European Commission showed on Thursday. The consumer confidence index rose to -12.4 from a revised 13.2 in December. The reading was the highest since February 2025 when the score was -12.3. The corresponding index for
EUR/USD remains well bid and trades near two-day highs around 1.1750 on Thursday, undoing the modest pullback seen in the previous session. The pair is drawing support from a better risk backdrop, helped by easing EU–US trade tensions, as well as a softer US Dollar following the release of US PCE data. Source link
Natural Gas, historically highly correlated with WTI Oil, has largely decoupled over the past four sessions. While the weekly correlation ranged between 0.20 and 1.00 since 2020, it has turned close to negative in late 2025. Since the Sunday open, US Natural Gas prices have exploded by approximately 60%. While initially attributed to fears of
Risk-on sentiment returned to global equity markets today as tensions surrounding Greenland appeared to de-escalate further. Stocks across regions pushed higher, reflecting relief that the immediate geopolitical shock has been contained, at least for now. The shift followed fresh comments from US President Donald Trump, who elaborated on the previously announced Greenland framework while attending
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The key details and excerpts to note from the accounts: Members broadly agreed with the assessment on the economy That being indicators of underlying inflation had changed little over recent months And for now, they remain consistent with the 2% medium-term target The euro area economy had been resilient alongside global economic activity Geopolitical risks
Antofagasta Q4 production report: Can the copper miner maintain strong momentum? Antofagasta PLC, the London-listed copper miner with its core operations in Chile, is set to report its quarter four (Q4) 2025 production and operational results on 29 January 2026. This update will be one of the first detailed indicators of how the company’s mining portfolio performed
Confidence among Belgian consumers turned positive in January as their saving capacity improved amid easing unemployment concerns, the National Bank of Belgium said on Thursday. The consumer sentiment index rose to 4.0 in January from -1.0 in the previous month. Moreover, this was the highest reading since October 2021. The index measuring the saving capacity
Market sentiment staged a sharp U-turn after signs that U.S.–European tensions over Greenland had moved toward resolution. The immediate risk of a transatlantic trade war has been averted for now, allowing investors to unwind defensive positioning built earlier in the week. The pivot lifted global equities, with Japan leading the charge in Asia, while European
The Euro reversal against the British Pound seen on Wednesday, found support at a previous resistance area near 0.8790, and the pair is picking up on Thursday, favoured by an improved market sentiment, returning to levels past 0.8700 with bulls aiming for the resistance area at 0.8745. US President Trump’s softer tone against Europe and
Kelvin Wong Senior Market Analyst Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities. Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an
