China Securities Journal hints at PBOC rate cut

Anil Panchal FXStreet

In its latest daily, China Securities Journal (CSJ) quotes a member of the Chinese Academy of Social Sciences to highlight the odds of a rate cut by the People’s Bank of China (PBOC).

Key comments (Google translation from CSJ)

China has made it clear that it wants to stabilize growth.

People's Bank of China has already taken some measures in this direction.

In the future, the People's Bank of China's policy interest rate, market benchmark interest rate and market interest rate will all decline further.

Market reactions

The news should have ideally helped the NZD/USD prices to remain firmer but mixed concerns over the Ukraine-Russia crisis seem to recently weigh on the quote.

Read: NZD/USD stays defensive around 0.6800 amid market’s anxiety over Ukraine, Fed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD bounces off one-week low amid Iran diplomacy hopes, ahead of UK CPI

The GBP/USD pair edges higher during the Asian session, snapping a four-day losing streak to the 1.3360 area, or a one-week low, touched the previous day. Spot prices, however, lack follow-through buying and trade below the 1.3400 mark, warranting caution before confirming that the recent pullback from an over two-month high has run its course.

EUR/USD holds gains above 1.1400 on hawkish ECB expectations despite US-Iran tensions

The EUR/USD pair trades with mild gains around 1.1405 during the early Asian session on Wednesday. A hawkish tone from the European Central Bank provides some support to the Euro against the US Dollar. Traders await the upcoming ECB interest rate decision on Thursday.

Gold: Strong recovery might face roadblock as oil price extends gains

Gold price extends its winning streak for the third trading day on Wednesday, trading 1.5% higher to near $4,140 during the Asian session. The precious metal recovered strongly in the past few trading days from its three-week low of $3,959.80 as traders scaled back Federal Reserve’s interest rate hike expectations for the monetary policy meeting next week.

Bitcoin holds firm as ONDO and GRAM lead rally

The broader cryptocurrency market is witnessing an easing of bearish momentum, with Bitcoin holding above $66,000 on Wednesday. Altcoins including Ondo and Gram, formerly known as Toncoin, are leading gains over the last 24 hours, driven by new features. Bitcoin holds above $66,000 on Wednesday, following a 2% surge the previous day.

UK CPI set to show receding inflation in June as GBP/USD fails at May highs

The UK Office for National Statistics will release the June Consumer Price Index figures on Wednesday at 06:00 GMT, a print that will matter for markets. Consensus expectations point to inflation pressures still above the Bank of England’s target, although losing further momentum.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.