The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.Previous close was 7.1138PBOC injected 267.1bn yuan via 7-day reverse repos at 1.40%net 10.9bn yuan drain This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

Gold bounced up from the $3,630 area on Friday and is extending gains on Monday, supported by a cautious market mood and hopes of further Fed easing. The precious metal is trading at $3,720, with the following potential targets at $3,730 and $3,760.The fundamental backdrop remains supportive. Source: fxstreet.com (Read Full Article)

Jamie Dimon, chairman and CEO of JPMorgan Chase, warned that tariffs could carry modest inflationary effects and add pressure to the U.S. economy.Speaking on the broader implications of trade policy, Dimon said the impact of tariffs is unlikely to be limited to a one-off price shock. Instead, he argued, the costs are more likely to filter through in stages. “Some people say [tariffs are] just a one-time effect, but in reality they’ll come in pieces, not all at once. If they did come in immediately, you’d see a quick spike up and then down,” he said.Dimon added that while tariffs alone are unlikely to tip the economy into recession, they do contribute to downside risks. “All things being equal, it’s a little recessionary, but really just one straw on the camel’s back,” he said.The comments come as U.S. businesses brace for the ripple effects of trade tensions and tariff measures, with economists warning of pressure on consumer prices, supply chains, and corporate margins.—Dimon’s comments come from an interview he gave to The Times of India. This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Source: fxstreet.com (Read Full Article)

The Indian Rupee (INR) trades lower against the US Dollar (USD) during late Indian trading hours on Monday. Source: fxstreet.com (Read Full Article)

Japanese PM contender Hayashi:Must avoid issuing deficit-covering bonds to fund spending, keep sending out signal to markets Japan will maintain fiscal disciplineJapanese PM contender Takaichi:Will use tax revenues to fund tax cut, spending for steps to combat rising prices but if necessary, should issue bondsShould be mindful of risk of causing yield rise in guiding fiscal policy, but when interest rate rise so would interest from Govt assetsJapanese PM contender Koizumi:Should use expected increase in tax revenues, proceeds from expenditure cut in funding spending for steps to combat rising cost of livingMust be mindful of need for fiscal discipline, but achieving solid economic growth is basis for guiding sound fiscal policy-The comments from a few of the contenders for leadership. There are five MP’s vying to replace outgoing Prime Minister Shigeru Ishiba.The frontrunners are former economic security minister Sanae Takaichi and Farm Minister Shinjiro Koizumi.The vote will be held on October 4. This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

Just my take on what is going to happen in FTSE today. Source: fxstreet.com (Read Full Article)

Bank of Canada Governor Tiff Macklem, speaking at Saskatchewan Trade and Export Partnership (STEP) at 1430 Eastern time / 1830 GMT Last week the BoC trimmed rates by 25bp:Bank of Canada Governor Macklem: There was a clear consensus to cut by 25 basis points This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

The US Dollar rally against the Swiss franc was capped at 0.7970 on Monday, and the pair retreated to levels right below 0.7945 as market sentiment deteriorated during the European Session, with all eyes on a slew of Fed speakers due later today.Five Fed Governors are scheduled to give further detai Source: fxstreet.com (Read Full Article)

The USD/JPY pair trades subduedly near 148.00 during the European trading hours on Monday. The pair has been facing selling pressure above 148.00 from almost two weeks. Source: fxstreet.com (Read Full Article)