China’s rate cuts were not enough to lift investor sentiment in the region. PBoC lowered its one-year medium-term lending facility rate by 10bps to 2.85%. The seven-day reverse repurchase rate was also cut by 10bps to 2.1%. They’re the first rate cut since April 2020. Also, the PBoC injected more liquidity by offering 700 billion […]
The post China’s rate cut failed to lift HSI appeared first on Action Forex.
Key Highlights GBP/USD started an upside correction from the 1.2500 support. It cleared a key contracting triangle with resistance at 1.2600 on the 4-hour chart. Bitcoin tested the $91,000 zone before the bulls appeared. USD/JPY Read more…
Businesses remain very upbeat about the year ahead. There are also some signs that current conditions are gradually improving. Key results (November 2024) Business confidence: 64.9 (Prev: 65.7) Expectations for own trading activity: 48.0 (Prev: Read more…
New Zealand’s ANZ Business Confidence dipped marginally in November, falling from 65.7 to 64.9, but it remains at what ANZ describes as an “impressive high” level. Own Activity Outlook, a key forward indicator, rose to Read more…