USD/CNY Exchange rate
Editors’ Picks
EUR/USD holds near 1.0550 after Eurozone inflation data
EUR/USD trades marginally higher on the day at around 1.0550 in the European session. The data from the Eurozone showed that the annual HICP inflation rose to 2.3% in November from 2% in October, as expected. Financial markets in the US will close early on Friday.
GBP/USD loses traction, retreats below 1.2700
After climbing to its highest level in over two weeks at 1.2750, GBP/USD reverses direction and declines to the 1.2700 area on Friday. In the absence of fundamental drivers, investors refrain from taking large positions. Nevertheless, the pair looks to snap an eight-week losing streak.
Gold price eases off weekly highs, remains above $2,650
Gold eases from weekly highs but holds moderate gains above $2,650 on Friday. XAU/USD builds on this week's goodish rebound from the $2,600 neighborhood. US President-elect Trump's tariff plans, Russia-Ukraine geopolitical risks and dovish Fed bets power the bright metal.
Bitcoin attempts for the $100K mark
Bitcoin (BTC) price extends its recovery and nears the $100K mark on Friday after facing a healthy correction this week. Ethereum (ETH) and Ripple (XRP) closed above their key resistance levels, indicating a rally in the upcoming days.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.