The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1049 as compared to the previous day's fix of 7.1053 and 7.2279 Reuters estimates.
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Lallalit Srijandorn
FXStreet
Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.
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EUR/USD rapidly leaves behind four consecutive daily pullbacks, challenging the 1.1700 hurdle in response to the severe sell-off in the Greenback as investors continued to evaluate the Fed’s rate cut and the neutral message from Chief Powell. Next on tap on the docket will be the weekly US labour market report on Thursday.
GBP/USD punched a fresh hole into seven-week highs on Wednesday, rising back into the 1.3400 neighborhood after the Federal Reserve delivered a widely expected third straight interest rate cut. Fed Chair Jerome Powell gave a particularly cautious showing, hinting that the Fed could be poised for another extended “wait and see” period.
Gold is testing bearish commitments at the $4,250 psychological level on Thursday, pausing a two-day uptrend as markets weigh a less hawkish than feared US Federal Reserve policy announcements.
Terra, MemeCore, and XDC Network emerge as top performers over the last 24 hours. LUNA leads the rally with 40% gains while MemeCore and XDC hold steady on Thursday after 6% and 3% rise, respectively, on the previous day.
The Federal Open Market Committee’s (FOMC) latest dot plot, released on Wednesday, indicates that interest rates will average 3.4% by the end of 2026, in line with the September projection.
Hyperliquid is trading above $28.00 at the time of writing on Wednesday, after rebounding from support at $27.50. The broader cryptocurrency market is characterised by widespread intraday losses ahead of the Fed monetary policy decision.
