News

Australia Imports (MoM) down to 1.1% in September from previous 3.2%

Australia Trade Balance (MoM) above forecasts (3850M) in September: Actual (3938M)

Australia Exports (MoM): 7.9% (September) vs -7.8%

Japan Jibun Bank Services PMI above expectations (52.4) in October: Actual (53.1)

The NZD/USD pair recovers some lost ground to near 0.5665, snapping the five-day losing streak during the early Asian session on Thursday. Nonetheless, the potential upside for the New Zealand Dollar (NZD) might be limited after the country’s Unemployment Rate rose to the highest level since 2016.

Nvidia CEO Jensen Huang has issued his starkest warning yet that the U.S. risks losing the artificial intelligence race to China, Axios reports. Speaking to the Financial Times (earlier headlines here) on the sidelines of an event in London, Huang said Beijing’s subsidies and pro-AI policies are outpacing Washington’s increasingly fragmented regulatory environment.

Huang cautioned that while U.S. states consider “50 new regulations,” China is actively lowering energy costs to accelerate AI computing. “China is going to win the AI race,” he told the FT. His remarks follow the Trump administration’s continued ban on exports of Nvidia’s most advanced chips to China, despite recent talks between Trump and President Xi Jinping.

Huang noted that roughly half of the world’s AI researchers and most of the leading open-source models are based in China — underscoring both the country’s talent strength and the importance of U.S. companies maintaining market access. Nvidia’s China business alone represents an estimated $50 billion opportunity.

The warning marks a sharper tone than Huang’s recent comments in Washington, where he urged U.S. policymakers to boost energy production and support AI developers to secure a lasting global lead.

This article was written by Eamonn Sheridan at investinglive.com.

People’s Bank of China USD/CNY reference rate is due around 0115 GMT.

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%.

How the process works:

• Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day’s trading.
• The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
• Intervention: If the yuan’s value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency’s value.

This article was written by Eamonn Sheridan at investinglive.com.

Trump is scheduled to make an announcement on Thursday, November 6, 2025 at 1100 US Eastern time

• 1600 GMT

Probably a distraction from the utter chaos at airports:

• The slashing of flight numbers in the US will include the 30 busiest airports

This article was written by Eamonn Sheridan at investinglive.com.

The post Eco Data 11/6/25 appeared first on Action Forex.

Rabobank expects the Japanese yen to strengthen over the next few months as markets anticipate another Bank of Japan rate hike, a move that could ease pressure for official currency intervention.

In a note to clients, senior FX strategist Jane Foley said the yen’s recent weakness against the U.S. dollar raises the risk that Japan’s Ministry of Finance might step in to support the currency if losses persist.

However, Foley said growing speculation about a possible BoJ rate increase in December could help the yen recover before intervention becomes necessary. Rabobank forecasts the dollar will fall to ¥147 within three months, compared with recent levels above ¥154.

This article was written by Eamonn Sheridan at investinglive.com.