On Thursday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1740 as compared to the previous day's fix of 7.1732 and 7.2561 Reuters estimates.
EUR/USD pulled back on Wednesday, shedding around one-quarter of one percent after US President Donald Trump insisted that tariffs are coming for the European Union too, not just Canada and Mexico.
Federal Reserve Bank of Atlanta President Raphael Bostic said late Wednesday that the Fed should hold interest rates where they are, at a level that continues to put downward pressure on inflation, per Bloomberg.
The White House said late Wednesday that US President Donald Trump issued an executive order aimed at implementing the Department of Government Efficiency's (DOGE) cost-cutting drive, per Reuters.
Nvidia set to announce Q4 earnings with expected record revenue increase driven by high demand for AI and graphics processing units. Investors watching for guidance on future trends and competition responses.
The US Dollar regained some composure after bottoming out in fresh two-month lows, managing to stage a decent bounce despite persistent uncertainty surrounding US tariffs and renewed concerns over the US economy.
The Dow Jones Industrial Average (DJIA) missed out on slim gains found by other US equity indexes, backsliding around 200 points as investors remain uneasy in the face of renewed tariff threats from US President Donald Trump.
The US Dollar Index (DXY), which tracks the performance of the US Dollar against a basket of six major currencies, is attempting a modest recovery on Wednesday but remains near yearly lows at 106.50.
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