China Press: New stimulus measures being considered

Joshua Gibson FXStreet

According to state-run Chinese media outlet the Daily news, new stimulus measures are being considered by the People's Bank of China (PBoC) in a bid to further boost consumption spending, though what those exact measures would be has not been revealed.

Elsewhere, the China International Capital Corporation stated that the PBoC is proposing another RRR cut, equal to unlocking an addition 400 billion yuan, while the PBoC is also allegedly considering making adjustments to how some banks' reserve ratios are calculated.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD faces next resistance near 1.1930

EUR/USD continues to build on its recovery in the latter part of Wednesday’s session, with upside momentum accelerating as the pair retargets the key 1.1900 barrier amid a further loss of traction in the US Dollar. Attention now shifts squarely to the US data docket, with labour market figures and the always influential CPI releases due on Thursday and Friday, respectively.

GBP/USD slips heading into the Thursday trading window

The Pound Sterling pulled back from four-year highs on Wednesday, weighed down by a combination of Bank of England dovishness and UK political uncertainty, even as the US Dollar weakened on soft labor market revisions.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.