The EUR/USD pair has lost some ground this week, trading in the 1.1700 price zone. Central banks are cautiously moving toward trimming their massive stimulus programs. Growth-related data suggests a steeper deceleration of economic progress.
BOE leaves rates, asset purchases unchanged, warns on inflation. Federal Reserve and Chair Powell set the stage for bond taper. US Treasury rates move sharply higher after the FOMC meeting. GBP/USD drops below 1.3700 in Friday trading.
Following the previous week’s decline, gold staged a rebound and closed in the positive territory on Monday and Tuesday. After reaching its strongest level since last Thursday’s sharp decline at $1,787 on Wednesday.
PBoC bans crypto trading activities and a plethora of associated services, labeling it “illegal.” Overseas cryptocurrency exchanges providing services to Chinese residents will be investigated in accordance with the law.
As Q3 winds down and Q4 begins, the broad investment climate is being shaped by the turning of the monetary cycle. Norway was the first, and New Zealand will be next. It is not so much that these moves will force others to do the same.