[MARKET UPDATE] Modest downside in oil prices has spurred USD weakness, G10s against the greenback has formed new session highs/lows, despite no clear driver; spot gold regains USD 4700 handle
The slight decline in oil prices seems to be weighing on the USD, contributing to weakness across the G10 currencies.
PBoC injects CNY 27bln via 7-day reverse repos with the rate maintained at 1.40%
PBoC sets USD/CNY mid-point at 6.8487 vs exp. 6.8087 (prev. 6.8562)
[MARKET UPDATE] Modest downside in oil prices has spurred USD weakness, G10s against the greenback has formed new session highs/lows, despite no clear driver; spot gold regains USD 4700 handle
PRE-MARKET CHINESE STOCK NEWS: CK Hutchison considering further sales, CITIC looking to sell Alcoa stake
US President Trump's advisers are increasingly worried about the political fallout from spiking jet fuel prices, with many advisers eager to end the war in Iran before November's midterm elections, WSJ reports citing sources
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This shift, while seemingly lacking a clear catalyst, suggests a potential reassessment of risk appetite, which may have broader implications for commodities like gold as it has regained the $4700 handle. Close monitoring of this evolving dynamic will be crucial, particularly for positions sensitive to currency fluctuations.
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