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

<p>Here's an interesting tweet from the Wall Street Journal's Nick Timiraos:</p><p>The Federal Open Market Committee (FOMC) meeting was held on Tuesday and Wednesday. </p><p>So what Powell is saying is that some officials changed their minds halfway through the meeting.</p><p>What are these guys,

<p>There are quite a number to take note of, as highlighted in bold.</p><p>The first ones are for EUR/USD, which could keep price action more contained just below 1.0900 before we get to the ECB later in the day. The most notable of those expiries is the one at the figure level itself, which is rather […]

<p>Societe Generale says that the ECB won't rock the boat today as the central bank is expected to communicate a more neutral language on rates. They should acknowledge recent progress on inflation but will wait before declaring victory on that front just yet. The firm also sees the ECB revising their projections to see inflation [&helli

<p>After a more dovish take by the Fed yesterday, will other major central banks also follow suit and deliver a similar message to wrap up the year? It was not really expected but after the surprise by Powell &amp; co. yesterday, nothing can be ruled out in trading this week.</p><p>The European session ahead will feature [&hel

<p>The greenback is sitting lower ahead of European trading as traders keep the post-FOMC reaction from yesterday going. It is a case of sell the dollar, buy everything else or a reversal of the theme that we have been accustomed to for most of 2022. USD/JPY is one of the more notable movers on the […]

<p>There is roughly 26 bps priced in for a move in March next year and that is a much changed timeline from before the FOMC meeting yesterday. Traders had previously priced in that amount for May next year. So, the Fed has essentially just vindicated the aggressive rate cut pricing in recent weeks and they […]

<p>The dovish Fed yesterday has more than vindicated the rally in the bond market over the last six weeks and what a rally it has been. At 5% yields in 10-years heading into November, it seemed like a given that yields would end the year much higher than where it started off. But right now, […]

<p>It wasn't just three days ago that they <a href="https://www.forexlive.com/news/goldman-sachs-brings-forward-fed-rate-cut-timing-to-q3-next-year-20231211/" target="_blank" rel="follow">brought forward their call</a> from Q4 2024 to Q3 2024, and now they have had to revise it to Q1 2024 already

<p>The Fed was surprisingly more dovish yesterday and that definitely caught plenty by surprise – myself included – and now we can start to see more calls for quicker rate cuts it would seem. As a whole for next year, JP Morgan is eyeing 125 bps worth of rate cuts. That is consistent with some […]