The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. Injects 1bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%. This article was written by Eamonn Sheridan at investinglive.com.

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UK asking prices rose 1.2% in May, above seasonal norms, while a separate survey showed British employer confidence near record lows with pay awards set to lag inflation. Summary: Rightmove reported UK asking prices rose 1.2% month-on-month in May, above the typical 1.0% seasonal increase, while the average two-year fixed mortgage rate eased to 5.18% from 5.42% a month…

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S&P 500 showed some intraday resilience before selling off as the closing bell approached – Nasdaq though didn‘t break below its intraday lows. Sufficient safe haven bid as tech was the go-to place following the late Mar bottom? Sure earnings are still great, but market is very selective about which tickers it‘ll reward (check out breadth, is that broadening…

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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…

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Gold price retreats by over 2.30% on Friday amid fears that prolonged hostilities between the US and Iran could trigger a second wave of inflation, forcing central banks to hike interest rates. The XAU/USD trades at $4,551 after bottoming at around $4,511. XAU/USD slides as yields surge and Fed cuts vanish US Treasury yields are soaring, with the 10-year…

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The USD is ticking to highs /new highs as yields continue to move higher. The 10 year yield is now up 10.1 basis points at 4.562 year yield. The 2-year yield Is up 8.1 basis points at 4.073%. The EURUSD is moving back below the 50% midpoint retracement of the rally from the March low, which comes in at…

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DBS Group Research economist Samuel Tse assesses how recent US-China talks are shaping the outlook for Chinese growth and Chinese Yuan (CNY) rates. He highlights a more constructive bilateral tone, prospects for improved US market access, and potential easing of trade frictions. Stronger exports and sector-specific agreements are seen supporting China’s economy and putting mild upward pressure on long-end…

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The Trump-Xi summit failed to reopen Hormuz, a UAE drone strike adds fresh escalation risk, and hot U.S. data keeps the dollar firmly in charge this week.

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