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Hello everyone, today XM Forex will bring you "[XM official website]: a collection of good and bad news that affects the foreign exchange market". Hope this helps you! The original content is as follows:
China's central bank promotes RMB internationalization: The People's Bank of China released the "2025 RMB Internationalization Report" and pointed out that it is necessary to develop the RMB foreign exchange derivatives market and study and promote RMB foreign exchange futures trading. Promote the listing and trading of RMB with more neighboring and Belt and Road countries and regions, appropriately increase the long-term and stable supply of offshore RMB liquidity, and study and promote the use of digital RMB in cross-border payments. This will help enhance the status and influence of the RMB in the international foreign exchange market and provide certain support for the RMB exchange rate.
China-US economic and trade consultations released positive signals: Vice Premier He Lifeng led a delegation to Malaysia from October 24th to 27th to hold economic and trade consultations with the United States. The two sides reached a substantive framework agreement, including that the United States will "no longer consider" imposing 100% tariffs on China. In addition, APEC will be held in South Korea from October 31 to November 1, and the heads of state of China and the United States are expected to continue to meet. If positive signals continue to be released, it will support the appreciation of the RMB.
Eurozone economic data rebounded: Both the manufacturing and services PMIs of the Eurozone rebounded in October. The manufacturing industry rose to 50.0 from the previous value of 49.8, once again rising to the line of prosperity and contraction, and the service industry rose to 52.6 from the previous value of 51.3, setting a new high since August last year. This shows signs of improvement in the euro zone economy and supports the euro exchange rate.
The Federal Reserve’s “hawkish interest rate cut”: Beijing timeIn the early morning of October 30, the Federal Reserve lowered interest rates from 4.25% to 4.00%. This was the second interest rate cut this year. However, Powell hinted that there was uncertainty about the December interest rate cut, and market sentiment turned sharply bullish. The U.S. dollar index (DXY) rose to 99.718, suppressing other currencies.
The U.S. government shutdown may cause tens of billions of losses: The continued U.S. government shutdown will still lead to a delay in the release of some subsequent economic data, such as the number of people receiving unemployment benefits this week, third-quarter GDP, etc. According to relevant estimates, the U.S. government shutdown may result in tens of billions of losses, which may have a certain negative impact on the U.S. economy and the U.S. dollar exchange rate, but the extent of its impact is still under observation by the market.
The market is worried about the economic outlook of the Eurozone: Although the Eurozone's third-quarter GDP growth exceeded expectations by 0.2% quarter-on-quarter, geopolitical tensions and U.S. tariff uncertainty still pose risks. The market expects the European Central Bank to cut interest rates again in the first half of next year. The euro has fallen short-term, and German government bonds have continued to fall. European Central Bank President Lagarde pointed out that the service industry and artificial intelligence drive growth, but the manufacturing industry is dragged down by the trade situation, which has also increased market concerns about the economic prospects of the euro zone, which is not conducive to the trend of the euro.
Meta caused market concerns: Meta triggered widespread market concerns about the input-output ratio of AI, causing the stock prices of technology stocks to fall, which in turn affected the market's overall risk appetite. Funds may flow to safe-haven currencies, such as the U.S. dollar, Japanese yen, etc., which is negative for other risk currencies.
The Bank of Japan kept interest rates unchanged, and there are obvious signs of depreciation of the yen: After the Japanese election, Sanae Takaichi was elected as the first female prime minister in history. Her policy is centered on loose monetary policy, and she has repeatedly stated that "it is necessary to proceed with caution when raising interest rates." The US dollar against the yen has rebounded from 150.50 and is currently fluctuating around 153.00, with obvious signs of depreciation of the yen.
The above content is all about "[XM official website]: Collection of good and bad news affecting the foreign exchange market". It is carefully www.centrdom.infopiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
Due to the author's limited ability and time constraints, some contents in the article still need to be discussed and studied in depth. Therefore, in the future, the author will conduct extended research and discussion on the following issues: