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<ul><li>Prior 45.7</li><li>Manufacturing PMI 43.2 vs 42.5 expected</li><li>Prior 42.1</li><li>Composite PMI 44.2 vs 45.2 expected</li><li>Prior 44.8</li></ul><p>That's a 4-month low in France's services sector activity and it reaffirms a continued contraction in

<ul><li>Eurostoxx +0.6%</li><li>Germany DAX +0.9%</li><li>France CAC 40 +0.4%</li><li>UK FTSE +0.6%</li><li>Spain IBEX +0.6%</li><li>Italy FTSE MIB +0.3%</li></ul><p>It's a positive start no doubt, with US futures also rising to the highs for the day. S&a

<p>The greenback is losing some ground ahead of the European market open as risk sentiment is on the up while bond yields are also sitting lower today. USD/JPY is down 0.4% to 147.75 at the lows for the day, though still holding just above its 100-day moving average of 147.51 currently:</p><p>That remains the key technical [&helli

<p>Hong Kong's main stock index is now up over 3% on the day and rallying into the closing stages, after the Chinese central bank announced the first RRR cut of the year <a href="https://www.forexlive.com/centralbank/pboc-to-cut-reserve-requirement-ratio-from-5-february-20240124/" target="_blank" rel="follow&q

<p>It will be a hefty reduction this time around, as the Chinese central bank announces a 50 bps cut to the reserve requirement ratio (RRR). The weighted rate before the cut was 7.40%. In effect, this will release ¥1 trillion in the economy.</p><p>For some context, China went with two RRR cuts in 2023 i.e. one […]

<ul><li>Will keep yuan exchange rate basically stable</li><li>Will steadily promote yuan internationalisation</li><li>Financial risks are generally under control</li><li>Monetary policy is mainly based on domestic conditions</li><li>There is still sufficient room for monetary policy</li

<p>In December, the institute already slashed its estimate for the German economy for this year as seen here: <a href="https://www.forexlive.com/news/ifo-institute-cuts-german-gdp-forecast-to-next-year-20231214/" target="_blank" rel="follow">Ifo institute cuts German GDP forecast for 2024</a></p>

Bank of Canada Policy Meeting Today; Major US Stock Indices Hitting New Records; NZ Inflation as Expected

The USD/JPY hit a familiar hit bid at 148.70 as markets picked up the US Dollar (USD) through Tuesday, keeping the Japanese Yen (JPY) broadly lower on the day.

The NZD/USD pair hovers around the 0.6100 mark during the early Asian session on Wednesday.