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PBOC sets USD/CNY reference rate at 6.7910 vs. 6.7990 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7910 compared to the previous day's fix of 6.7990 and 6.7695 Reuters estimate.
Euro gathers strength above 1.1400 after soft US inflation data
The EUR/USD pair gains ground to near 1.1425 during the early Asian trading hours on Wednesday. The US Dollar (USD) weakens against the Euro (EUR) as softer-than-expected US inflation data temporarily eased pressure on the Federal Reserve (Fed).
Japan Machinery Orders (MoM) came in at -12.4% below forecasts (-4.2%) in May
Japan Machinery Orders (MoM) came in at -12.4% below forecasts (-4.2%) in May
Japan Machinery Orders (YoY) registered at -1.9%, below expectations (12.9%) in May
Japan Machinery Orders (YoY) registered at -1.9%, below expectations (12.9%) in May
Chinese Yuan: Europe questions undervaluation and trade gap – Rabobank
Rabobank's Michael Every reports that Chancellor Merz has called for dialogue with China on monetary and FX policy, arguing CNY is 20–30% undervalued and should float more freely.
South Korea Unemployment Rate declined to 2.7% in June from previous 2.8%
South Korea Unemployment Rate declined to 2.7% in June from previous 2.8%
New Zealand Electronic Card Retail Sales (MoM) fell from previous 1.7% to -1.4% in June
New Zealand Electronic Card Retail Sales (MoM) fell from previous 1.7% to -1.4% in June
New Zealand Electronic Card Retail Sales (YoY): 1.3% (June) vs previous 3.3%
New Zealand Electronic Card Retail Sales (YoY): 1.3% (June) vs previous 3.3%
China: Fiscal support set to re-accelerate – Standard Chartered
Standard Chartered economists Carol Liao and Hunter Chan note that China’s fiscal support softened in Q2 2026 after strong Q1 activity, leading to a sharp slowdown in infrastructure FAI similar to H2-2025.
NZD/USD Price Forecast: Advance stalls at SMA clusters, bulls eye 0.59
The New Zealand Dollar extended its rally, registering solid gains versus the US Dollar after the latest US inflation report, which tempered speculation of a Fed rate hike and trimmed investors' bets by half. At the time of writing, the NZD/USD is trading at 0.5809, up by more than 1%.
Canada: Cyclical rebound and steady BoC stance – RBC
Royal Bank of Canada (RBC) economist Claire Fan expects Canada’s economy to rebound in Q2 2026, supported by resilient household spending, recovering business investment and expanding net trade.
British Pound strengthens after US CPI surprises to the downside
The British Pound (GBP) strengthens against the US Dollar (USD) on Tuesday after US inflation data surprised to the downside, reducing expectations of a near-term Federal Reserve (Fed) interest rate hike.
Indonesian Rupiah : Under pressure with hawkish BI bias – Societe Generale
Societe Generale notes Bank Indonesia’s (BI) reaction function is driven by the Indonesian Rupiah (IDR) and exchange rate stability. The report says the Rupiah faces pressure from a stronger US Dollar (USD) and hawkish Federal Reserve (Fed) pricing, with stress around USD/IDR 18,000.